Lundin Energy develops oil and gas resources in Norway efficiently and responsibly for a more sustainable future. By propelling a new generation of innovative, lower-carbon solutions, the Foundation supports Lundin Energy’s Decarbonization Strategy.
Lundin Energy and the Foundation invest in early-stage, scalable start-ups. In 2020, the partnership supported 62 start-ups that generated $8.3 million USD in revenue and secured $14 million in follow-on funding.
In 2020, the partnership made an equity investment in Ocean Harvesting Technologies (OHT), a pre-commercial wave energy company. The investment accelerated the path to commercial launch and helped secure a matching grant from the Swedish Energy Authority.
With the support of the Foundation, Norwegian start-up Evoy secured a $2.1 million EUR grant and won the Nordic Startup Award for “Best Newcomer.” The rapidly growing business launched the world’s fastest electric motor propulsion systems, bringing it closer to achieving its mission of zero emissions in the small marine industry.
The partnership’s investment in Katapult Ocean Fund continues to prosper, with portfolio companies securing $10.9 million in follow-on funding. Looking to the future, Lundin Energy is supporting the launch of a bespoke climate accelerator program to support tech entrepreneurs advancing zero and low-carbon solutions.
Equity investment into electric boat motor company to support zero emission marine transportation
Ocean Harvesting TechnologiesSweden
Equity investment into wave energy company to support clean energy production
Accelerator and fund focusing on early-stage businesses dedicated to protecting the oceans
Debt financing to renewable energy companies
Incubator program supporting first-generation immigrant entrepreneurs
UN Sustainable Development Goals
Our initiatives strive to improve people's lives and protect the planet and are in support of the following UN SDGs: