Norway’s Emerging Climate Champions: 5 Startups Driving Sustainable Innovation

A place of breathtaking beauty among several Nordic countries, courtesy of its fjords, Norway is equally well-known for its dedication to environmentally friendly practices. It’s interesting to note that the country is on its way to becoming the epicenter of climate innovation.

To overcome sustainability challenges worldwide through revolutionary solutions, Norway has become home to several startups focused on an array of solutions involving the latest battery technologies to a complete change in the way ships are maintained, not to mention incorporating climate crisis measures into digital platforms.

It’s safe to say that these startups speak volumes about their involvement in contributing to a greener and more sustainable future.

Five Leading Startups Driving Sustainable Innovation

To learn more about how Norway is substantially contributing to a cleaner and greener future, let us delve into five start-ups that are gaining prominence through their work on sustainable innovation.

Norsjór

The company is the brainchild of Amalie Eliersten and her co-workers from the University of Agder and was founded to deal with the ongoing issue involving biofouling on ship hulls. For those who’re unfamiliar with the term, Biofouling refers to the process of gradual accumulation of bacteria, algae, and small sea animals on surfaces that remain in water for a prolonged period, like ship hulls and underwater sensors.

As a result of biofouling, there’s an increase in drag, which in turn results in higher levels of fuel consumption and greenhouse gas emissions.

The company makes use of a very creative process to combat the biofouling issue. It uses sophisticated laser technology that works on removing biofouling while not harming the marine environment to even the slightest degree. The outcome is two-fold:

• Reduce emissions from fuel consumption and greenhouse gases

• Little to no requirement for hazardous chemicals generally used in cleaning processes

As a token of acknowledgment and appreciation for its proficiency in sustainable maritime solutions, the organization was selected for the esteemed 2023 Equinor & Techstars Energy Accelerator.

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Volue

In 2020, four Nordic companies, Markedskraft, Powel, Scanmatic, and Wattsight, merged to form Volue. The organization is responsible for offering digital solutions for four core sectors, including energy, water, power grid, and infrastructure.

Volue is based in Oslo and uses the power and potential of sophisticated software to increase efficiency and sustainability in different industries. Its various platforms enable the following:

• Combine renewable energy sources

• Maximize grid performance

• Assist in technical upgrades for important infrastructure

Thanks to its creative innovations, Volue received a grant from Innovation Norway for lowering water waste using ML and real-time data.

Yet another feather in its cap includes Volue being recognized by the European Commission (one of the primary institutions of the European Union) as a core innovator under the Horizon 2020 funding program for creating an energy trading platform.

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Morrow Batteries

Also founded in 2020, in Arendal, Norway, the primary objective of the organization is to expedite the move to green energy by developing sustainable batteries (the key component of electric vehicles) that are also reasonably priced.

To tackle the challenges associated with the transition to green energy, Morrow is building what can be termed Europe’s first gigawatt-scale lithium iron phosphate (LFP) battery factory, aiming to begin commercial production this year.

Morrow believes in going sustainable all the way, and this is reflected in its 100 percent use of renewable hydropower for producing batteries, thereby creating ones with fairly smaller quantities of carbon dioxide emissions.

Among its other accomplishments, the company is spearheading the development of cutting-edge batteries like LNMO, which removes cobalt and lowers the usage of nickel while tackling ethical and environmental issues surrounding customary battery materials.

To turn its goals into a reality, Morrow has received funding, including a loan of NOK 1.5 billion from Innovation Norway, the Norwegian government’s official body for developing Norwegian industries.

Interestingly, the organization works with 30 different research institutions and has set up the Morrow Research Center in Grimstad to boost innovation.

chooose

Founded in 2017, chooose has enabled individuals and organizations to use its software platform to perform impactful climate activities. It facilitates organizations in terms of incorporating carbon offsetting into customer experiences, with instances including checkout processes or while using apps.

The company’s intuitive interface offers automated carbon dioxide emission calculations and directs them to a marketplace of carbon solutions, all of which are corroborated, such as Sustainable Aviation Fuel (SAF) and carbon removals. With the help of this process, comprehending and alleviating carbon footprints is easier.

chooose’s achievements have drawn considerable attention from top-notch organizations like Air Canada, British Airways, and Booking.com.

One of its biggest accomplishments includes raising funds to the amount of €13.8 million in a funding campaign headed by GenZero and SOUNDWaves.

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Evoy

Another Norwegian startup, founded in 2018, Evoy stands out in terms of its core business. How? To begin with, the organization is disrupting the maritime industry through the manufacture of its high-performance electric propulsion system for boats.

Ultimately, they aim to eradicate emissions resulting from boating by providing robust electric motors for a range of vessels, including commercial boats and leisure crafts.

Evoy’s electric systems seamlessly integrate into existing setups, thereby offering a better and cleaner substitute to conventional combustion engines.

Using electric engines in place of diesel ones helps in multiple ways; it helps lower noise levels, maintenance costs, and impact on the environment, resulting in cleaner air and waterways.

As a result of their versatility and creativity in terms of sustainable maritime solutions, the organization secured funding from the European Innovation Council’s ‘Green Deal’ initiative in 2020, highlighting the critical role it plays in furthering green technology in the maritime sector.

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Final Thoughts

Needless to say, the five Norwegian startups we’ve covered embody Norway’s dedication to sustainability. Each startup deals with core aspects of the climate crisis.

Irrespective of the nature of the problem, whether it involves maritime maintenance and digital infrastructure or battery technology and circular economy measures, these organizations serve dual purposes: One, they play an instrumental role in helping Norway move to green technology, and two, they set critical standards for world environmental innovation.

With their continued development, not to mention collaboration, we can expect a far more sustainable future that has the potential to bounce back in the face of adversity.

While we're on the topic of a sustainable future, it is essential to mention that KnowESG, our very own sustainability hub, is committed to curating ESG-related news, education, events, and company information while sharing deep insights for organizations and professionals exploring the developing landscape.

Last but not least, let us also add that our KnowESG Marketplace caters to all ESG enthusiasts by collaborating with some of the most reputable ESG data and service providers, providing a plethora of services ranging from sustainability consulting and strategy to renewable energy and utilities, among many others.

Frequently Asked Questions

What makes Norway a hub for climate-focused startups?

Courtesy of Norway’s supportive government, clean energy infrastructure, and a culture that prioritizes innovation, the country is the quintessential place for start-ups tackling climate change issues.

Which sectors are these climate startups primarily focused on?

The startups that have been shared have five core areas of focus, namely, carbon capture, renewable energy, circular economy, green mobility, and sustainable aquaculture.

How do these startups contribute to Norway’s climate goals?

These startups offer low-emission solutions that are in sync with Norway’s aim to become a low-carbon society by 2050, supporting the move to green technology locally as well as the world over.

Are these startups attracting global investors?

Undoubtedly. Thanks to their creative technologies, alignment with ESG factors, and capability for growth, international VCs and sustainability funds are showing a deep interest in them.

What role does government funding play in their success?

Agencies such as Enova and Innovation Norway offer important early-stage grants, which help in lowering risks and enhancing the pace of development.

How are these startups impacting the global climate tech scene?

Through clean technology export and international collaboration, Norway is being touted as a climate innovation leader worldwide.