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– I believe Oslo will be an energy capital in the future
Preben Strøm is the managing director for Energy Valley, a Norwegian center of expertise for energy technologies. They work as a national instrument for the Norwegian Government and for the industry to accelerate the energy transition and help members become more competitive and find new business opportunities in a changing market. We asked him about the investment opportunities in the green energy sector right now.
Why should investors look to the Norwegian green energy sector?
– It’s natural to look to Norway for investment opportunities, especially within green energy right now. We have proven for decades that we are the leading oil and gas nation. Now, the same people and the same competence are transferring into the renewable energy and the sustainable energy side. By looking to Norway they will find trustworthy competence, solid institutions, and employees with a work/life balance, which means a stable labor force. People here are loyal and eager to work hard for their employer. We have renewable energy-based companies that are growing really fast right now and the digital side of the transition is a fast-growing market here.
Norway has always been known for its enormous capability to change fast. We have a very trust-based society and a trust-based working environment. We also have world-leading engineers and project managers that have been developing the oil and gas industry for the past 50 years, not only in Norway but in a global market.
And why should they especially look at the Oslo region?
– We have the competence, we have the culture and we have a flat hierarchy that allows employees to grow and develop instead of being afraid of making mistakes. We are great at developing work opportunities. People that previously worked in the oil and gas industry are currently moving on to more renewable and green sources like solar power, batteries, offshore power, carbon capture and storage, and hydrogen. We are rapidly becoming large in the renewable energy sector and I believe Oslo will be an energy capital in the future.
What are the current trends in the sector?
– The biggest trend on a global scale is the fast-moving transition from oil and gas towards renewable sources. Another trend we see now is that people are increasingly more concerned with sustainability in their daily lives. We humanize energy and the way energy affects our lives – this thought is a lot stronger today than just a few years back.
What are valuable opportunities in the sector right now?
– The opportunities in the sector are huge. In Norway, we see more focus on renewable power than ever before. There are heavy investments now in offshore wind, hydrogen, and other renewable, green energy sources. The interest is growing globally and it really is an emerging industry.
Do you have any examples of success cases in your sector?
– A lot of our companies are taking new positions and new companies are emerging from the cluster as a result of the energy transition. In Norway, and especially in our region, the best success case so far is the establishment of Cognite, a digital company that started up five years ago at Fornebu in Oslo. It’s the first multibillion unicorn in Norway. They went from 0 employees in 2016 to 600 employees in 2022 and that is quite a journey. This proves that Norway is taking a position as a green energy nation, also in the digital area of the transition.
If you look at the listings of new companies at the Euronext stock exchange, the Oslo region has the highest number of companies being listed over the last two years in Norway, and they are all renewables. It is a pretty good success story that proves the region's position within green, renewable and sustainable energy.
Where can investors find more information about investment opportunities in your sector?
– An entrance to the whole ecosystem in Oslo would be to go to the Energy Valley website. Our innovation platform is also a good place to research if investors are looking for other companies or contacts. We have a great ecosystem for companies and clusters in the region. You have Kjeller Innovasjon, NCE Smart Energy Markets in Halden, and The Solar Energy Cluster in Oslo. These are great entry points for investors and are proof of the green energy opportunities that are in Oslo.
News & investment opportunities for green energy
- Renewable energy flows through Norway - The Explorer
- Norwegian Centres of Expertise (NCE) Energy Technology (Energy Valley), based in Oslo, Norway
- Norwegian Centres of Expertise (NCE) Smart Energy Markets, based in Halden, Norway
- The Solar Energy Cluster - based in Oslo, Norway
- The Hydrogen Cluster, based in Oslo, Norway
- It is a pretty good success story that proves the Oslo region's position within green, renewable and sustainable energy.
Energy Valley is a technology cluster and Norwegian Centre of Expertise (NCE) in energy technology with a centre of gravity in the greater capital region of Norway.
With a center of gravity in the greater capital region of Norway, Energy Valley’s approx. 200 member companies and institutions represent the entire value chain of the energy sector. This includes several large international technology companies, a broad supplier base of technology and service SMEs, start-ups, and growth companies, and academic- and research institutions.
The key business domains, technologies, and services in Energy Valley are to be found within Oil & Gas, Energy Utilities, Renewables, Transportation and Maritime.
By offering infrastructure for collaboration, knowledge transfer, and new insight, Energy Valley help their members adapt to, benefit from, and contribute to the energy industry in transition.
Technology scouting and targeted matchmaking
Energy Valley is continuously mapping the key technology and competence differentiators of its member companies and institutions and actively help partners connect with the specific technology experts for their project or challenge at hand.
Expertise within the cluster members ranges from additive manufacturing and automation through submersible electronics and ROVs to data analytics and new business models for the digital transition.
Invest in business in Oslo
Some of the good reasons for doing business in Norway are the high level of education, high productivity, and a longstanding culture of innovation. Norway has one of the world’s strongest economies. High priority is given to knowledge development, innovation, technology, and while creating a sustainable and green business sector.
Norway is a world leader in the oil and gas, energy, maritime, and seafood sectors, but also offers sectors where they are creating innovative and groundbreaking solutions and services to solve the SDGs. Medtech, FinTech, Edtech, and other technology clusters are flourishing.
Find your next big investment success in the Oslo region.