Best Energy Tech Companies in Norway
The 321 best Energy Tech companies in Norway in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Morrow Batteries.
Norway's Energy Tech sector has a funding story worth reading straight: 321 companies, $1.7B in total disclosed capital, and one unicorn anchoring the whole map. eSmart Systems leads the directory at $136M raised, with Hystar at $32M and Volue at $54M not far behind. The sector's growing at a CAGR of roughly 7.1%, driven by rising global energy demand and the industrial push to digitize production processes that still run on paper records. And as shown in 2022 research on next-generation energy materials, the underlying science is moving fast enough to keep that growth rate honest. What's the figure that tells you momentum is real? Median app install growth across energy production platforms hit roughly 28% year-over-year across 138 tracked apps. That's not hype. That's usage.
I'll be direct: the best Energy Tech companies in Norway, ranked here by disclosed equity funding and recent funding momentum, reflect a market where Equinor and Innovasjon Norge are betting alongside Europa and Investinor on themes like EV battery technology, solar generation, and next-generation platforms. You won't find inflated valuations dressed up as traction. The numbers in this directory are validated filings, and the scale speaks without decoration.
- prnewswire.com
Our analysis of 287 Energy Tech companies
$109.4b in tracked funding; 82% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best Energy Tech companies in Norway
| # | Company | Revenue | Disclosed funding | Employees | Founded | Founder | Market signals (1y) | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Cognite 🦄 Provider of industrial artificial intelligence and data management platform solutions | $83M FY2022 | $225M | 623 | 2016 | Geir Engdahl Co-Founder & CTO | 4 signals ▼78% New product · Announcements · Hiring | — | — |
| 2 | DeepWell Well intervention company primarily providing wireline services to oil companies | $36M FY2018 | $46M | 163 | 2004 | — | — | 5 patents Subsea cutting tools for fluid-filled cavities in offshore well intervention | — |
| 3 | Hexagon Purus Provider of systems and solutions for clean transportation and energy applications | $15M FY2023 | $97M | 688 | 2018 | Morten Holum CEO | 11 signals ▲22% Earnings · Acquisition · Contracts | — | — |
| 4 | imove Provider of an online electric-cars subscription platform | $3M FY2023 | $22M | — | 2018 | Gunnar Birkenfeldt Co-Founder | — | — | — |
| 5 | Heimdall Power Provider of real-time dynamic line rating and grid monitoring solutions | $3M FY2024 | $29M | 20 | 2015 | Jorgen Festervoll CEO | — | 19 patents Installation and monitoring of overhead power line equipment and grid control systems. | 2 partnerships |
| 6 | Morrow Batteries Manufacturer of battery cells for energy transition and storage solutions | $3M FY2023 | $259M | 17 | 2020 | Rahul Fotedar Co-Founder & CTO | 5 signals ▲25% Leadership · Announcements | — | 1 partnership |
| 7 | Aptomar Integrated Field Monitoring sensors, systems and services for the oil and gas industry | $3M FY2016 | $6M | 9 | 2005 | — | — | 11 patents Integrated marine search and detection systems combining sonar and visual searchlights | — |
| 8 | Reelwell Developer of wired drill pipe technology for land and offshore use | $2M FY2024 | $8M | 14 14 → 34 (+143%) · sector median +39% | 2004 | — | — | 226 patents Integrated insulated electrical conductors within well tubing for geothermal and oil/gas applications | 1 job opening |
| 9 | Hystar Provider of hydrogen generation solutions using electrolyzers | $2M FY2023 | $32M | 20 | 2020 | Fredrik Mowill CEO | — | 18 patents Compressed hydrogen generation using PEM water electrolyzer systems | — |
| 10 | Evoy Developer of marine electric propulsion system | $2M FY2023 | $8M | 19 19 → 20 (+5%) · sector median +39% | 2018 | Leif Stavostrand Founder & CEO | — | 11 patents Electric outboard propulsion systems with integrated cooling and mounting solutions | — |
| 11 | Cenate Manufacturer of silicon anode materials for lithium-ion batteries | $872K FY2023 | $6M | 16 16 → 17 (+6%) · sector median +39% | 2015 | Martin Kirkengen Co-Founder & CTO | — | 26 patents Silicon‑carbon composite particles for high‑performance lithium‑ion battery anodes | — |
| 12 | Oliasoft Provider of well planning solutions | $786K FY2018 | $4M | 39 39 → 60 (+54%) · sector median +39% | 2015 | Marius Kjeldahl Founder | — | — | 1 internship · 2 launchs · 1 partnership |
| 13 | Hynion Operator of hydrogen refueling stations for vehicles in Scandinavia | $439K FY2023 | $6M | 7 | 2019 | — | — | — | — |
| 14 | Amina Manufacturer of AC charging hardware designed for integration and easy use | $100K FY2022 | $10M | 10 10 → 24 (+140%) · sector median +39% | 2021 | Arne Magnus Berge Founder | — | — | 1 partnership |
| 15 | Evyon Provider of energy storage systems | $93K FY2022 | $9M | 4 | 2020 | Jorgen Erdal Co-Founder & CEO | — | — | — |
| 16 | Beyonder Developer of battery cells and modules for industrial energy storage | $88K FY2021 | $34M | 63 63 → 49 (-22%) · sector median +39% | 2016 | Svein Kvernstuen Founder & CEO | — | 32 patents Patents concentrated in electrical & electronics | — |
| 17 | 2K Tool Mud handling products for the drilling industry | $85K FY2016 | $4M | 3 | 2006 | Kjell Mikalsen Co-Founder | — | — | — |
| 18 | Kyoto Group Provider of thermal energy storage solutions for industrial process heat applications | $53K FY2023 | $13M | 21 21 → 48 (+129%) · sector median +39% | 2016 | — | — | 7 patents Solar thermal power plant components: flow systems, thermal storage, and heliostat optics | 1 partnership |
| 19 | Skyfri Provider of solar power plant management solutions | $45K FY2022 | $5M | 206 | 2021 | Pratik Ghoshal Co-Founder | — | — | — |
| 20 | Greenbird Open source middle ware for integration of data from various devices | $37K FY2025 | $11M | 43 | 2010 | — | — | — | — |
| 21 | HYDROGEN Mem-Tech Provider of hydrogen generation solutions from renewable energy | $12K FY2022 | $18M | 13 13 → 15 (+15%) · sector median +39% | 2017 | Thomas Reinertsen CEO | — | 18 patents Membrane attachment methods for hydrogen electrolysis and fuel cell systems | — |
| 22 | Volue Provider of data, forecasts, and software for energy market participants | — | $54M | 800 | 2020 | Trond Straume CEO | 4 signals ▲33% M&A · Leadership | — | 1 launch · 1 partnership |
| 23 | Corvus Energy Developer of energy storage systems (ESS) based on lithium NMC technology | — | $28M | 179 | 2009 | Mette Hanestad Interim CEO | 3 signals Funding · Capital raise | 16 patents Safety and support systems for fuel cell and battery energy storage modules | — |
| 24 | eSmart Systems Provider of virtual grid asset inspection and digital inventory solutions | — | $136M | 69 69 → 96 (+39%) · sector median +39% | 2012 | Knut Gustavsen Co-Founder | — | 2 patents Machine learning data classification using dynamic vector partitioning techniques | — |
| 25 | ONiO Developer of wireless microcontrollers designed for energy harvesting and battery operation | — | $11M | 10 | 2016 | — | — | 66 patents Wireless low‑power biomedical sensor platforms using backscatter and integrated transceiver technology. | 1 job opening |
| 26 | WindSim Provider of cloud-based software for wind energy simulation | — | $738K | 8 | 2005 | — | — | — | 1 launch |
| 27 | Glint Solar Cloud based design software for solar energy operators | — | $11M | 3 | 2020 | Harald Olderheim Co-Founder & CEO | — | — | — |
| 28 | Freyr Developer of a lithium-ion battery | — | $132M | 212 | 2018 | — | 4 signals ▼88% Contracts · Capital raise · Announcements | — | — |
| 29 | Vind AI-assisted recruiting platform | — | $3M | — | 2022 | Hilde Njoten Co-Founder & CFO | — | — | — |
| 30 | EnergyNest Developer of thermal energy storage systems for industrial heat applications | — | $131M | 10 | 2011 | — | — | 69 patents Modular high‑temperature thermal energy storage systems using molten‑salt/heat‑battery technology | 1 job opening · 1 partnership |
| 31 | TECO 2030 Developer of proton exchange membrane-based fuel cell | — | $21M | 23 23 → 14 (-39%) · sector median +39% | 2019 | Tore Enger Chief Executive Officer | — | 5 patents Fuel cell fuel delivery units and startup control methods for liquid fuel cells | 1 partnership |
| 32 | Versiro Real-time multi-market decision support platform for electrical power assets | — | $2M | 5 | 2022 | Markus Loschenbrand Co-Founder | — | — | — |
| 33 | Wattif EV Developer of EV charging infrastructure | — | $54M | 70 | 2020 | Bjorn Dale Co-Founder | — | — | — |
| 34 | WindSpider Developer of crane technology for wind turbine installation and maintenance | — | $2M | — | 2020 | Kent Vinkel CEO | — | 6 patents Wind turbine tower construction, climber crane systems, and maintenance device integration. | 2 partnerships |
| 35 | MIRIS Developer of sustainable real estate development solutions | — | $124M | — | 2016 | Jan-Gunnar Mathisen Founder & CEO | — | — | — |
| 36 | Enode Provider of API enabling connection and control of distributed energy resources | — | $17M | 15 | 2019 | Thorvald Thorsnes Co-Founder & CRO | — | — | 2 partnerships |
| 37 | Elfly Group Electric aircraft manufacturers | — | $8M | 6 | 2018 | Eric Lithun CEO | — | — | — |
| 38 | ZEG Provider of hydrogen generation solutions for natural gas and biogas | — | $19M | 19 | 2008 | Arild Selvig Chief Executive Officer | — | — | — |
| 39 | Wind Catching Systems Provider of offshore wind floating systems | — | $10M | 1 | 2017 | Arthur Kordt Co-Founder | — | 18 patents Floating offshore wind turbine platforms and multi‑turbine matrix array systems | — |
| 40 | Shoreline Provider of AI-powered platform for wind farm design and operations | — | $12M | 9 | 2014 | Ole-Erik Endrerud Founder & Chief Product Officer | — | 9 patents Simulation platforms for business process modeling and e‑commerce data analysis | 1 partnership |
| 41 | Electromagnetic Geoservices 3D electromagnetic data provider for offshore oil and gas exploration | — | $30M | 16 | 2002 | — | — | 186 patents Marine electromagnetic surveying systems and low‑noise electric field sensors for hydrocarbon exploration | — |
| 42 | Crayonano Provider of graphene based nanowires for UV LEDs | — | $3M | 24 | 2012 | Knut Sandven Co-CEO | — | 67 patents Nanowire-based UV optoelectronic semiconductor devices and related contact structures | — |
| 43 | Defigo Provider of an IoT-enabled access control system for commercial buildings | — | $4M | 13 13 → 24 (+85%) · sector median +39% | 2014 | Joachim Stray Co-Founder & Group CEO | — | — | — |
| 44 | Birdsview Provider of infrastructure construction services | — | $2M | — | 2017 | Simen Husoy Co-Founder | — | — | — |
| 45 | Verdande Technology Provider of real-time drilling decision support for oil and gas industry | — | $14M | 51 | 2004 | — | — | 24 patents AI-driven real-time monitoring and analytics for drilling operations in oil and gas. | — |
| 46 | Sorbwater Technology Provider of flocculation based technology solutions for oil-water separation | — | $9M | 3 | 2007 | Svein Egil Steen CEO | — | 49 patents Multiphase fluid separation and continuous liquid pollutant removal technologies | — |
| 47 | eDrilling Developer of 3D simulation-based well-drilling simulator software | — | $1M | 23 | 2008 | Toni Fadnes CEO | — | — | — |
| 48 | Norhybrid Renewables Provider of distributed energy solutions integrating wind, solar, and battery storage | — | $2M | 4 | 2020 | — | — | — | 1 launch |
| 49 | Prediktor Offering IoT solutions for industries to increase efficiency, sustainability and operational scalability | — | $3M | 40 | 1995 | Steinar Saeid Co-Founder & CTO | — | — | — |
| 50 | ExproSoft Data driven performance analytics provider for the oil & gas industry | — | $4M | 20 | 2000 | — | — | — | — |
Top 12 Energy Tech companies in Norway
#1
Public · Oslo, Oslo · founded 2020 · 800 employees$54Mraised▾
Provider of data, forecasts, and software for energy market participants. The company offers solutions for trading, optimization, planning, and asset operations. It also provides a portfolio supporting distribution system operators in planning and optimizing energy grids. The company delivers actionable energy market insights and a platform for automated, multi-market energy trading.
- Feb 2026Post IPO—
- Oct 2020Series C$54M
#2
Acquired · Nesttun, Hordaland Fylke · founded 2009 · 179 employees$28.2Mraised▾
Developer of energy storage systems (ESS) based on lithium NMC technology. It provides users with a company designed and built for industrial, commercial, and high power applications. It provide solutions for commercial hybrid and electric vessels. Vessels and equipment hybridized or fully electrified with the ESS, consume less fuel, operate more efficiently and effectively, and emit substantially fewer greenhouse gases.
- Oct 2025Series C$60M
- Jan 2024Series B—
- May 2020Grant (prize money)$743.9K
- Dec 2019Grant (prize money)$120.1K
#3
Series C · Oslo, Oslo · founded 2020 · 20 employees$31.9Mraised▾
Provider of hydrogen generation solutions using electrolyzers. The company leverages a proton exchange membrane (PEM) technology that enables green hydrogen to be produced at higher efficiencies.
- May 2025Series C$36M
- Oct 2024Grant (prize money)$28M
- Jan 2023Series B$26M
- Mar 2021Series A$5.9M
#4
Series B · Halden, Viken · founded 2012 · 69 employees$136Mraised▾
Provider of virtual grid asset inspection and digital inventory solutions. The company offers image-based digital inventory and grid asset intelligence services. It delivers digital approvals and access permits. The company partners with power grid operators to advance asset risk mitigation strategies. It helps identify vulnerabilities and uses data analytics to locate assets in high-risk zones. The company equips field teams with visual and risk-based data before deployment. It offers inspection-as-a-service and software-as-a-service for grid digitalization.
#5
Series A · Oslo, Oslo · founded 2016 · 10 employees$11.4Mraised▾
Developer of wireless microcontrollers designed for energy harvesting and battery operation. These microcontrollers offer power flexibility for various applications. The microcontrollers can be used in medical sensors, smart textiles, and smart buildings. They integrate radio, memory, and power management into a single package.
- Jun 2025Series A$5.7M
- Jan 2021Grant (prize money)$131.8K
- Nov 2020Grant (prize money)$2.5M
- 2020Grant (prize money)$3.1M
#6
Series A · Stavanger, Rogaland · founded 2004 · 14 employees$8.4Mraised▾
Developer of wired drill pipe technology for land and offshore use. The company focuses on digital telemetry, power delivery, and reliability in downhole drilling. Their technology aims to improve efficiency and reduce well construction costs. The company’s drill pipe has undergone testing to ensure reliability.
- Mar 2025Series A$3.8M
- Oct 2022Grant (prize money)$1.1M
- Jun 2022Series A—
- Apr 2010Series A$8.4M
#7
Seed · Tonsberg, Vestfold and Telemark · founded 2005 · 8 employees$738Kraised▾
Provider of cloud-based software for wind energy simulation. The company offers WindSim - a simulator that optimizes energy production from wind turbines. and WindSim Express - a CFD-based micro-siting solution. The company also offers consulting and training related to the use of WindSim.
- Dec 2025Seed—
- Nov 2007Seed$738K
#8
Series B · Trondheim, Trondelag · founded 2017 · 13 employees$17.7Mraised▾
Provider of hydrogen generation solutions from renewable energy. It uses a palladium membrane technology to separate hydrogen from oxygen in a separator. It offers the solution to refineries, chemical plants, power generation companies, and more.
- Nov 2024Series B—
- May 2022Series B$17.7M
#9
Series B · Bergen, Vestland · founded 2015 · 20 employees$28.6Mraised▾
Provider of real-time dynamic line rating and grid monitoring solutions. The company offers technology to unlock capacity and meet growing demand on power grids. It provides tools for mitigating outages with forecasting and flexibility. The company’s technology detects environmental conditions to protect and reinforce grid assets. It also offers solutions to simplify compliance within transmission and distribution operations.
- Jul 2024Series B$25M
- Oct 2019Series A$3.6M
- Apr 2018Seed—
- Aug 2017Seed—
#10
Series D · Oslo, Oslo · founded 2020 · 17 employees$259Mraised▾
Manufacturer of battery cells for energy transition and storage solutions. The company focuses on developing sustainable battery technology for various applications. It produces battery cells and conducts research into future battery technologies. The organization aims to provide solutions for decarbonization, electrification, and sustainable energy systems.
- Sep 2023Series D$73.7M
- May 2023Series C$53.3M
- May 2022Series C$105.5M
- Sep 2021Series B$26.5M
#11
Series A · Oslo, Oslo · founded 2020 · 3 employees$11Mraised▾
Cloud based design software for solar energy operators. It is a software platform designed for utility-scale solar developers to optimize project workflows. The platform allows users to manage, collaborate, and streamline projects for greenfield solar development. The platform enables users to analyze and identify a solar site. It allows users to generate 3D project visualizations with elevation profiling. It enables users to track pipeline process and identify blockers in real time.
- Nov 2024Series A$8M
- Jun 2022Seed$3M
#12
Funding Raised · Mo i Rana, Nordland · founded 2018 · 212 employees$131.8Mraised▾
Developer of a lithium-ion battery. It provides industrial-scale clean battery solutions to reduce global emissions.
- Jan 2024Grant (prize money)$110.5M
- Feb 2022Grant (prize money)—
- Mar 2021Grant (prize money)$16.6M
- Feb 2021Grant (prize money)$4.6M
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Energy Tech coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
How research on Grid Energy Storage is moving in Norway
A read on the academic research around Grid Energy Storage — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 269 Norway-affiliated papers.
- Norwegian University of Science and Technology78
- SINTEF62
- University of South-Eastern Norway19
- University of Oslo12
- Institute for Energy Technology9
- Electrochemistry1→5
- Renewable energy36
- Battery (electricity)32
- Thermal energy storage24
- Power (physics)20
- Process engineering18
- Battery (electricity)1→10
Where energy storage is researched across Norway
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Common questions
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.