Energy Valley member TGS has announced that TGS and PGS will combine to create a strong full-service energy data company.

“We are excited to announce a merger with PGS, completing a major milestone of building a fully integrated and robust global energy data provider. Our clients will benefit from scale, a unique technology portfolio and premier service quality. Bringing together two distinct, yet complementary, companies position us even better for a continued upcycle in the energy sector,” says Chief Executive Officer of TGS, Kristian Johansen.

Following the completion of the transaction, TGS and PGS shareholders will own approximately 2/3 and 1/3 of the combined company, respectively, on the basis of the share capital of each of the companies as of 15 September 2023. 
The transaction is supported by the Board of Directors of both companies. Kristian Johansen and Sven Børre Larsen will continue as CEO and CFO post transaction.

“The seismic industry is changing whereby production seismic is becoming increasingly important alongside the traditional exploration seismic. By combining TGS and PGS’ complementary resources, we create a fully integrated geophysical service provider well positioned to generate significant value for all stakeholders” stated Rune Olav Pedersen, President & Chief Executive Officer of PGS.

The combined company will be a full-service geophysical data company with a strong offering in segments including Multi-Client data, streamer data acquisition, ocean bottom node (‘OBN’) data acquisition, imaging and new energy data. Moreover, the transaction helps mitigate supply chain risks and will add further to economies of scale and efficiency, enhancing the value offered to clients.

Definitive merger agreements are expected to be entered into in October 2023, with closing of the transaction expected during the first half of 2024.

Energy Valley member Deep Wind Offshore announces that Octopus Energy will join the ownership side of the company, together with the existing industrial owners Knutsen OAS, Haugaland Kraft and Sunnhordland Kraftlag.

“The potential for offshore wind is absolutely massive and in many ways we’re only at the start of this burgeoning industry. Working with Deep Wind Offshore is hugely exciting, providing access to new offshore wind markets for us where they have deep expertise. Ultimately, the more offshore wind farms built across the globe, the quicker we can drive down bills and create a more secure energy system for everyone,” says CEO of Octopus Energy Generation, Zoisa North-Bond.

Deep Wind Offshore is an international offshore wind developer with a pipeline of projects in Norway, Sweden and South Korea, countries that all have enormous wind resources and strong government support for offshore wind. The company aims to build 10 GW of new offshore wind by 2032, with 2 GW under exclusive development in South Korea.

“Welcoming Octopus as an investor will enable Deep Wind Offshore to accelerate international growth and strengthen its position in Norway. Knutsen OAS, Haugaland Kraft and SKL have formed the ideal basis for the company and will continue to be key owners,” says CEO of Deep Wind Offshore, Knut Vassbotn.

Octopus’ investment will accelerate Deep Wind Offshore’s growth and further develop the company’s pipeline of fixed and floating offshore wind farms, also towards new markets.

“The support from Octopus combined with our expertise means that we now have the strength to grow significantly, also internationally. The investments from Octopus and our connection with Norwegian municipalities ensure that we will not only provide plenty of renewable energy, but also a basis for future growth on both sides of the North Sea,” continues Vassbotn.

Deep Wind Offshore was founded in Norway in January 2021 and has since grown rapidly in a number of countries and has partnerships with large energy companies such as EDF Renewables and bp.

The vast majority of Octopus’s managed funds comes from large UK pension funds and institutional investors. This investment by Octopus will be funded purely by UK pension capital.

The agreement comes in the wake of Octopus’ announcement to release 20 billion dollars in investment for offshore wind globally. It marks Octopus’ entry into Norway and South Korea’s renewable markets, and increases the project portfolio of Octopus Energy Generation to 15 countries.

Forecasts estimate that the offshore wind sector could be worth $1 trillion by 2030 and span at least 24 markets, highlighting the scale of the industry’s growth potential.

For the past months we have worked closely with Energy Valley member Stem Agency on new webpages and an update and expansion of the Energy Valley brand identity. The new identity has been gradually adapted over the past few months, and now we can finally show you the real gem in process, our new webpage.

We hope that the new website will bring value to both our members, and anyone interested in what we do, bringing better user-friendliness and clarity. The expansion of the brand also brings elements to it that will make Energy Valley more recognizable and lead to a more consistent identity, visually connecting the website, our social media channels, presentations, and everything else we do.

Stem Agency is a digital design and communication agency that has helped us at Energy Valley with updated branding and a new and user-friendly website. In connection with the launch of our new website, Stem Agency offers all members a 1-hour free workshop where they can assess your branding, positioning and web, and assist with tasks regarding overall communication, graphic profile, and website.

Book a meeting here: English | Norwegian

Energy Valley member, Nebb, has been acquired by the newly established software group, Init, giving the group a strong presence in Norway.

“Nebb has strong organisations in both Norway and North Macedonia constituting a great foundation for further development and growth, in which we have found Init to be the best partner for us,” says CEO of Nebb, Alexander Risøy.

Nebb will maintain its current activities, including work and project approaches, and the management will continue in their current roles.

“We look forward to becoming an even stronger partner in and outside Norway and collaborate with all our new colleagues throughout Europe,” continues Risøy.

With the acquisition of Norwegian Nebb, Init strengthens its position on the Scandinavian market.

“Nebb will especially contribute to our joint group with competences in software development, process knowledge, IT/OT architecture and specialized solutions for marine and subsea control systems,” says CEO of Init, Knut Akselvoll.

The group says they have ambitions of becoming the Nordic region’s leading supplier of industrial IT and automation solutions for the industry.

“With Nebb as part of the Init group, we now have a strong presence in Norway, as well as Denmark and Sweden,” Akselvoll continues.

Init was established in January 2022 with the merger of Danish Picca and PD- Automation, and includes Swedish-Norwegian Acobia, Swedish Martensson Consulting and the Danish companies Logimatic, AN Group, Inuatek, 3Tech Automation, ProjectBinder, MBB Consult, Daniit. and now Norwegian Nebb.

Since 1996, Nebb has provided solutions for automation and industrial IT within process industry, pharma, marine, energy, and subsea. Nebb aims to be at the very forefront of technology and a center of excellence in their fields of competences. The company is headquartered in Asker, Norway and has an office in Skopje, North Macedonia.

Caption picture: With Nebb being acquired by Init, it will strengthen the groups presence in Norway. From left: COO of Nebb, Espen Trengereid; CEO of Nebb, Alexander Risøy; CEO of Init Group, Knut Akselvoll; CTO of Nebb, Espen Davidsen and CBDO of Init Group, Frederik Klinge.

Unsure how to spend your time at Arendalsuka? We have put together a list of events that our members and collaborators are responsible for or take part in.

See the whole program here.

Energy Valley invites you to a panel discussion about the future of renewable energy in Norway at Arendalsuka. 

The event, hosted in collaboration with SINTEF, SEB, and Capgemini, will be held at one of the largest venues at Arendalsuka, Arendal Kino, with a capacity of 260. 

What does the future have to bring for renewable energy? Norway has a unique position to take the lead in the global transition to renewables. But are we about to fall behind? Will we remain an oil producer, or will we be able to make the transition? And what is needed to accelerate this transition to both reach net-zero goals and make new jobs? 

Read more here. 

These, and other questions will be debated the panel discussion, named “Bli med på en spennende reise inn i fremtidens fornybare energilandskap.” Leaders from the industry, finance, and academia will provide their views on the matter. 

The event, taking place at Bærekraftscenen in Arendal, will last from 20:30 to 21:30, after which light refreshments will be served – providing a venue for socialization. 

At the event, you will meet the EVP at Capgemini Invent, Karl Thomas Reinertsen, Country Manager Norway at SEB, John Turesson, Head of Strategic Export Priorities at Innovation Norway, Eli Wærum Rognerud, Chief Commercial Officer (CCO) at ZEG Power, Kathrine Ryengen, CEO at Siemens AS and Managing Director Siemens Smart Infrastructure Nordic & Baltic, Nils Klippenberg, and lastly, Executive Vice President Sustainability at SINTEF, Nils Røkke.

Energy Valley member, Deep Wind Offshore and EDF Renewables are cooperating with Norwegian supplier Moreld Ocean Wind for the floating solution at the offshore wind development on Utsira Nord.

“Moreld Ocean Wind’s solution is the most cost-effective and sustainable of those we considered. It also represents the Norwegian way of doing things, with Moreld providing technology, engineering, procurement, and construction. This cooperation aligns with our goal of maximizing local content, which is crucial not only to achieve social acceptance in the first offshore wind projects but also to be able to upscale the industry to deliver further projects to reach the 30 GW target. Both parties in the consortium are fully aligned on this matter,” says Knut Vassbotn, CEO of Deep Wind Offshore. 

Renewable energy major EDF Renewables has been working with offshore wind developer Deep Wind Offshore on the first offshore wind projects in Norway since 2021.

This work includes producing a competitive bid for the qualitative Utsira Nord tender and one of the focus areas is the development of a robust supply chain in Norway. The consortium has now chosen its preferred supplier for floating wind foundations in the Norwegian supplier Moreld Ocean Wind.

Strengthening the Norwegian local supply chain 

The consortium has investigated several floating solutions. Moreld Ocean Wind is a Norwegian leading industrial group based in Stavanger, specializing in offshore energy and marine industries.

The Ocergy floater that Moreld offers is an innovative steel three-column construction that ensures good stability, fast assembly, and low weight. It is what the consortium considers to be the most sustainable and cost-effective solution at Utsira Nord.

“EDF Renewables has more than 10 years of experience in offshore wind and is currently constructing one of the first floating wind farms in the world, Provence Grand Large. We’re pleased to partner with Deep Wind Offshore on this project, who complement our global experience and extensive technical expertise with their local presence and in-debt knowledge of the local supply chain,” says Frédéric Belloy, Executive Vice President of International operations of EDF Renewables and adds:

“We’ve already enjoyed strong interactions with the Norwegian supply chain across a range of our projects and are delighted to continue doing so with Moreld and Ocergy to deliver a robust offer as part of the Utsira Nord bidding process”  

This decision further illustrates the attention paid by the consortium to strengthening the Norwegian local supply chain while preparing itself for the next stages of the tender process.

With this project, EDF Renewables and Deep Wind Offshore are committed to supporting Norway to achieve its goal of doubling power production by 2040, including 30 GW of offshore wind production.

The start-up Enernite is joining the Energy Invented office space for the summer while building up their spatial analysis software. 

“Energy Invented provides, in our opinion, the best infrastructure for ambitious entrepreneurs within the energy space with great internet, good office facilities, a gym, and a great cafeteria. Additionally, the people are pretty amazing as well,” says Co-Founder & CEO at Enernite, Fredrik Moger. 

The two-year-old start-up launched with an ambition to make a site screening tool for renewables but quickly realized that they could expand to be the first all-in-one geographic information system (GIS) tool on the web. Get to know Enernite here. 

 “GIS is complex and requires specialized knowledge. Only about 2 million people worldwide work as GIS professionals, while billions of users depend on information with a location component. And that’s what we’re going to change,” says Moger.  

The company wants to make spatial analysis accessible to everyone. 

“We want to empower everyone, especially any office worker who depends on IT tools, to build what they need themselves. Quickly, simply, and inexpensively. And this gets the Enernite team up in the morning and working hard every day,” says Moger. 

The innovation platform Energy Invented offers office facilities, innovation, and business development programs as well as a valuable industrial network for start-ups, growth companies, and the SME segment within energy technology. Energy Invented is run by Energy Valley.