Participated · Series C · Mar 2023

Norsepower develops Rotor Sails™, wind-assisted propulsion systems that augment ship propulsion to reduce fuel consumption and emissions. Its fully mechanical auxiliary system operates with zero emissions and achieves average fuel savings of 5–25%, with some installations showing up to 50% depending on vessel and route. As of the article, Norsepower has 32 Rotor Sails™ installed across 18 vessels for operators including IINO Lines, Oldendorff, and Union Maritime. The company opened a dedicated rotor sail factory in Dafeng, China in 2023 and plans to scale production capacity to 100 units per year by 2027. Norsepower integrates physical wind propulsion with digital tools such as Norsepower Sentient Control™ and Norsepower Cloud to monitor and optimise thrust in real time. Since its founding in 2012 it has raised €70 million to date and is preparing a further €30 million raise to support increased manufacturing capacity, expanded commercial operations, and continued digital development. Norsepower develops mechanical Rotor Sails that provide auxiliary wind propulsion for large ships to improve fuel efficiency and cut emissions. The Norsepower Rotor Sail™ uses rotating cylinder-shaped rotors that require a minimal amount of the ship’s electric power to operate. The product has been in customer use for over eight years and has 250,000 operating hours of verified performance data. Installations and collaborations include customers such as Bore, Sea-Cargo, Scandlines, Vale, CLdN, Nippon Marine, and Socatra. Led by CEO Tuomas Riski, the company intends to scale production and expand the reach of its fuel-saving and emissions-reducing technology. Norsepower recently raised €28M in a Series C to support those plans. Norsepower is a Finland-based cleantech startup that develops software-operated wind propulsion systems (Rotor Sail) for large ships. Founded in November 2012, the company focuses on auxiliary wind propulsion to reduce maritime emissions. It has completed installations including the Rotor Sail onboard Viking Line’s M/S Viking Grace in April 2018 and has worked on projects with Maersk Tankers and Viking Line. Norsepower has raised more than €13 million to date prior to this round, with its most recent previous funding in 2016 from the European Commission and Finland’s Tekes. The company has just raised €3.6 million in a funding round led by Korkia. Proceeds will be used to drive expansion in Asia, invest in sales and marketing to raise market awareness, and to optimise and streamline manufacturing to improve cost efficiency. Norsepower develops the Rotor Sail Solution, a modernized Flettner rotor that uses the Magnus effect to harness wind power and cut fuel use for cargo vessels. The system can be retrofitted to existing ships or specified for newbuilds and is intended to allow main engines to be throttled back when conditions permit. The company recently installed a second rotor sail on Bore’s Ro‑Ro vessel MS Estraden as part of testing and piloting. Norsepower was established in November 2012 and is led by CEO Tuomas Riski. The firm has raised more than $6m to date, supporting development, testing and piloting of its technology. The recent financing will further support deployment and commercialization of the Rotor Sail Solution.

Participated · Equity · Jan 2018

DEPsys is a Swiss technology company whose core product, GridEye, is a hardware-plus-software control platform for distribution network operators to integrate decentralized renewable generation, manage microgrids and support neighborhood energy solutions. The company says demand is rising due to increased renewable generation, electromobility and grid digitalization, and large-scale rollouts are under way. DEPsys doubled its number of customers in 2018 and is present in ten markets across two continents; it has acquired three major customers in Asia and plans entry into North America while continuing to focus on Germany and Switzerland and broader European expansion. The 2019 funding is intended to accelerate international growth and market penetration. Prior financings in 2016 and 2018 helped professionalize the corporate structure and strengthen international presence. DEPsys builds GridEye, a decentralized smart-grid platform that monitors, stabilizes and optimizes low-voltage power grids using high-precision measurements and advanced control algorithms. The solution is plug-and-play, easy to install and does not require a grid model, avoiding regular updates. DEPsys says the product has matured over the past 18 months and has signed a number of important international agreements and contracts in 2017. Statkraft Ventures notes the company grew from prototype stage to a player with dozens of international customers. The company plans to accelerate application development and expand its international market presence. Financially, DEPsys completed a CHF 3 million Series A in 2016 and has secured additional funding to continue commercialization and expansion. DEPsys develops GridEye, a decentralized, real-time measurement and control platform designed to stabilize low-voltage electrical networks and optimize energy flows. The solution uses intelligent algorithms and a decentralized architecture to secure supply without requiring an electrical network model. GridEye can be installed on existing hardware, needs no central compute infrastructure or heavy communications, and is marketed as a plug & play solution. DEPsys customers in Switzerland have used GridEye for more than two years to avoid costly network investments, improve stability and better exploit produced energy. One of the largest French-speaking Swiss grid operators has integrated GridEye into its strategic roadmap to 2030 with plans for full deployment. GridEye version 3 is entering industrial production and the company has started developing the West-European market; the startup recently closed its first external financing of CHF 3 million.

Participated · Series B · Dec 2014

WeSustain provides cloud-based Enterprise Sustainability Management software that enables companies to publish efficient reporting processes and compliant reports covering environmental data (carbon emissions, energy usage, waste, recycling) and social performance metrics. Its platform is used by more than 200 companies, including Daimler, Allianz and Commerzbank. The company operates from three sites and has representations in all major European markets. In 2013 it signed a strategic partnership with Deutsche Telekom for re-selling and support of its software. Led by CEO Dr. Manfred Heil, WeSustain intends to use new funding to strengthen market development and its sales organization. The company is based in Buxtehude, Germany. WeSustain develops and sells a cloud‑secured software suite for enterprise sustainability management. The solution comprises modules for governance, stakeholder management, operations, reporting, collaboration and communication. It focuses on performance indicators such as carbon footprint, data security, staff equal opportunity, supply‑chain working conditions and plant operating safety. The product has in recent years established itself as an adjunct to financial reporting for major companies' sustainability departments. The company plans to use newly committed capital to support development of its first software release and the product's market launch. WeSustain was established in August 2010 and is based in Buxtehude, Germany.

Led · Equity · Mar 2010

dilitronics develops technology for the energy-efficient and intelligent control of light-emitting diodes (LEDs), focusing on ASIC solutions. The company is based in Jena, Germany and develops and distributes products for general illumination, industrial illumination, display backlighting and automotive lighting. Its product strategy centers on extending an ASIC product portfolio for LED control. The recent financing is intended to fund that ASIC extension and to support international market expansion. dilitronics received around €2m from Finnish venture capital company VNT Management Oy in this round. In 2008 the company received initial funding from High-Tech Gründerfonds.