Press release -
Norwegian technology company raises 50 million for further industrialization
HIPtec - a Norwegian technology company producing advanced metal components with lower energy use and greenhouse gas emissions, raises 50 MNOK from Scatec AS, Nysnø Climate Investments AS and Roht Invest AS.
The demand for advanced metal components is increasing. More and more customers are requesting sustainable solutions and the components must therefore be lighter and stronger, and manufactured in a cost-effective way with a low CO2 footprint. HIPtec has developed a technology that does the job and will now establish the first production line on an industrial scale for further product qualification in collaboration with strategic customers.
- HIPtec has developed an innovative production technology that is both cost-effective and environmentally friendly. The industrial potential is significant, says John Andersen, Jr., CEO of Scatec and chairman of the board of HIPtec.
- We are very pleased that Nysnø Climate Investments and Roht Invest have chosen to invest in HIPtec together with us in Scatec. Their capital contribution and expertise will strengthen HIPtec in the further work towards industrialization, saysAndersen.
Advanced components with lower carbon emissions
HIPtec is producing advanced metal components of high quality with low CO2 footprint. Typical components have complex geometries and are composed of different materials. HIPtec has so far entered into agreements on product qualification and further industrialization with customers in the maritime sector, oil and gas, power production and medical equipment.
A core element of HIPtec's production technology is the use of Hot Isostatic Pressing (HIP). HIP combines high pressure with high temperature to join metals into complex components. Compared with traditional production methods, costs are lower - and material consumption, energy consumption and greenhouse gas emissions are significantly reduced.
- HIPtec ticks all the boxes for us with a large market potential, long-term profitability, reduced greenhouse gas emissions, and positive societal effects – as well as industrial potential, says John Egil Johannessen, Investment Manager at Nysnø Climate Investments.
Industrial potential attracts strong interest from investors
HIPtec is now raising NOK 50 million in new growth capital from Scatec AS, Nysnø Climate InvestmentsAS and Roht Invest AS. In addition, for the upcoming pilot phase, HIPtec has received support from Innovation Norway's Environmental Technology Scheme. Following the establishment of the first production line, HIPtec's goal is to scale further to a capacity of over 600 tonnes of high-value metal products.
- HIPtec has a proprietary, cost-effective and environmentally friendly production technology with the potential to develop many interesting market niches within a large accessible market. We look forward to participating in the industrialization of the company's technology, says Jørn Aage Johansen, Roht Invest AS.
Contact person HIPtec/Scatec John Andersen, Chairman of the Board
john.andersen@scatec.no tel. +47 901 74 080
Contact person Nysnø John Egil Johannessen, Investment Manager
john.egil.johannessen@nysnoinvest.no tel. +47 93 41 76 82
Contact person Roht Invest Jørn Aage Johansen
jaj@nsv-invest.no, tel. +47 97 65 13 16
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About HIPtec
HIPtec is a technology company that has developed a novel process for the industrial production of metal components. The environmentally friendly processes can be applied to a large range of metallic alloy systems. The HIPtec team has extensive experience in technology development and industrial production and is part of the Scatec system - a leading Norwegian player in renewable energy and advanced materials with expertise in innovation and industrialization.
About Nysnø Climate Investments (Nysnø)
Established in 2017, Nysnø Climate Investments (Nysnø) is a state-owned company that invests in companies and funds with profitable and smart solutions to climate change. With 1.7 billion NOK in assets under management Nysnø invests within clean energy, digital and enabling technologies, resource efficiency, sustainable demand, and the circular economy. Nysnø is based in Stavanger and owned by the Norwegian Ministry of Trade, Industry & Fisheries.
About Roht Invest AS
Roht is an investment company owned by Tyns-Ring AS (Christian Ringnes) and NSV Invest AS. The company has also previously invested in projects together with Scatec, among others REEtec AS and Thor Medical AS.
