NIK II acquires 39.9% of Q Pharmaceuticals AS
Norsk Innovasjonskapital II (NIK II), managed by Televenture Management, has entered into an agreement with Bergen Teknologioverføring AS (BTO) in which NIK II acquires 39.9% of the total shares in Q Pharmaceuticals AS from BTO. Q Pharmaceuticals has developed and patented a new technology for treatment of sea lice in the fish farming market. For more information, please contact Sverre Slåttsveen, CFO at Televenture Management.
Oslo, May 2017: Franatech to deliver instrumented node to Lundin Norway AS
In May, Franatech and Lundin Norway entered into an agreement were Franatech will deliver an instrumented node for subsea monitoring in the Arctic region Franatech sniffers for Methane and CO2 are key elements of the instrumented node and together with Franatech’s expertise in subsea monitoring has been vital in the development of the final scope. Franatech and Lundin has over time defined the actual scope and solution. The solution will be placed at the sea bottom for up to a year and might also be expanded in time and scope when experienced is gained. The contract represents a breakthrough as it is the first of its kind for the specific application. The concept has already gained interest from other prospects in various parts of the world. The contract also confirms Franatech’s position as a technology leader for measuring dissolved gas under water.
Oslo, May 2017: Franatech to deliver two mobile laser methane sniffers for a major operator
Franatech has lately entered into an agreement to deliver two mobile laser methane sniffers for use at an oil and gas field outside Africa. Installed onboard a ROV, this will be the first part of a total reassessment of the asset integrity/leak detection monitoring at a major offshore field. This is another evidence of Franatech’s capabilities, and technology as attractive for mobile, semi-fixed and fixed solutions subsea.
Oslo, May 2017: Franatech to deliver simulator for leak detection system as part of subsea system delivery
Franatech has lately entered a contract for simulator for a leak detection system, being part of a total subsea system supply for a major operator. The customer is a major subsea system supplier and lay the ground for the first supply of Franatech’s fixed leak detection system, qualified for 25 years’ design life.
Oslo, May 2017: Applied Petroleum Technology AS received purchase order from Lundin Petroleum
Applied Petroleum Technology AS (APT) recently received a purchase order from Lundin Petroleum for a total sum of 17 mnok for geochemical- and biostratigraphic analyses services related to the company’s exploration program at the Norwegian Continental Shelf for 2017. In addition, APT also received a frame agreement from Cairn India Ltd. for a total of 3 mnok for deliveries of geochemical services and data interpretation in connection with their on-going exploration activities off the coast of India.
Trondheim, May 2017: Augmenti and the Norwegian Defense Research Establishment enters into an agreement on continued cooperation within Augmented Reality
Augmenti AS and the Norwegian Defense Research Establishment (FFI), with the support of the Ministry of Defense (MoD), have entered into a new agreement to develop a product that combines Augmented Reality and inertial navigation. The product called ARBiN (Augmented Reality Built in Navigation), will be groundbreaking in its combination of technology and application. Innovation Norway also supports the project.
Trondheim, April 2017: Augmentin and Major Defence Cooperation sign exclusive development agreement around Augmented Reality
The development agreement was signed in April 2017. The agreement is an extension of the Letter of intent agreement signed in 2015, which includes the development and implementation of Augmented Reality on BAE Systems Hägglunds platform CV90. If the parties find it appropriate, the agreement will also be expanded to include the BAE Systems Hägglunds platform BvS10. The project, which has already started and scheduled for completion in 2017, will integrate Augmented Reality functionality into the gunners sight of the CV90 combat vehicle. By adding georeferenced BMS (Battlefield Management System) symbology into the gunners view, who e.g. represent by red and blue forces, situation awareness are improved and time to engage is reduced due to improved visualization where detection, classification and identification of objects are indicated by symbols. The solution will be an effective way of improving awareness in situations when object are obscured or non-resolved in the gunners sight.
Oslo, January 2017: Elbit Systems and Nicarnica Aviation AS Performed Successful Ground Trials of Volcanic Ash Detection
Elbit Systems and Nicarnica Aviation achieved a significant milestone by successfully performing ground trials, demonstrating detection of volcanic ash using the ClearVision EVS system. The trial findings verify that the final product will achieve a successful detection at a range of 100 kilometers in sufficient time to allow pilots to avoid the no-fly zone affected by the presence of volcanic ash. For more information, please see www.elbitsystems.com/pressrelease&news, or contact Sverre Slåttsveen, CFO at Televenture Management.
Oslo, December 2016: Stingray Marine Solutions AS raised NOK 45 million
Stingray Marine Solutions AS, which offers a unique and patented high-tech optical delousing technology, closed in December a share issue of NOK 45 million at a pre-money valuation of NOK 225 million. The private placement was managed by Pareto Securities in Oslo. The investor interest for this capital raise was significant and the share issue was oversubscribed. For more information, please contact Sverre Slåttsveen, CFO at Televenture Management.
Oslo, January 2017: Metas AS awarded contract for the delivery of LoVe Phase II
Metas AS, which offers environmental monitoring system for the petroleum industry’s subsea installations has been awarded a contract in cooperation Kongsberg Maritime for the delivery of LoVe Phase II to the Lofoten Vesterålen Ocean Observatory. Total contract value is approx. NOK 25 million and delivery and installation will take place end 2017/early 2018. For more information, please contact Sverre Slåttsveen, CFO at Televenture Management.
Trondheim, April: Industrial cooperation between Augmenti and Norwegian defence and research establishments
In the Norwegian Defence Research Establishment´s (FFI) annual report for 2016, FFI explains the model “Triangle Partnership”, a model for collaboration on advanced technology between defence as a customer, FFI as a research establishment and Augmenti as the industrial partner, http://www2.ffi.no/aware
Bergen, April: Metas awarded Demo2000 contract of 7,5 MNOK
Delivery of CO2 leakage monitoring system to Petrobras in Brazil.
Trondheim, April: Augmenti enters into a joint marketing campaign with BAE Systems
Augmenti enters into a joint marketing campaign with BAE Systems in relation to their new BattleView 360 Intelligent Situational Awareness product.
Oslo, March 2016: Stingray begins leasing its “sea lice laser” tech
Stingray Marine Solutions — the sea lice-combating technology provider which Undercurrent News first covered at NASF in 2015 — has begun leasing its ‘optical delousing’ to Norwegian customers, CEO John Breivik said. He expects the system to be rolled out for international customers later in the year, perhaps by spring. “Last year Stingray was in contact with a number of farmers who increasingly were concerned about the predictability and improved cost-effectiveness connected with delousing,” the firm said in a press release. “More and more reported that the cost of combating lice had been both confusing, and made solid inroads into their investment budget, especially considering the structure of regulations against lice.” In a bid to give customers predictability over the space of a minimum of four years, Stingray has now begun leasing the technology, meaning “no appreciable increases or surprises on costs en route”. “This means that the company will be able to offer leasing to all new customers, providing fixed and predictable monthly costs with favorable conditions for farmers.”
Oslo, February 2016: Genetic Analysis signs distribution agreement for China and Finland
Genetic Analysis has entered into an exclusive distribution agreement for the Chinese and Finnish markets with Biohit Oyj (Biohit), a Finnish biotechnology and diagnostic company. Biohit also invests in Genetic Analysis through a share exchange agreement.
Oslo, February 2016: APT has opened an office in Houston, Texas
We are pleased to announce that APT now has an office in Houston, Texas. The office is manned by Dr. Richard Patience. Richard has over 30 years industry experience working for BP (UK), Statoil (Norway), Unocal and Chevron (USA).