The Lundin Foundation supports Lundin Energy’s transition to a lower-carbon energy future through carefully selecting and backing high-potential, early-stage companies that advance solutions to combat climate change. Through our joint investments and expertise, we helped launch and nurture the most promising climate tech companies targeting solutions to drive the energy transition.
In 2021, Lundin Energy provided $2 million USD in funding to the Lundin Foundation to invest in companies developing next-generation climate solutions and launch a bespoke climate accelerator program as part of the company’s decarbonization strategy. As a result, 79 climate-focused start-ups were supported generating over $18 million USD in revenue, leveraging $28 million USD in third-party financing and supporting 500 employees.
The Katapult Climate Accelerator Program powered by the Lundin Foundation supported ground-breaking climate start-ups seeking to develop their businesses and deepen their climate impact. The program attracted over 1,000 global companies competing for eight spots. Participants received training, technical expertise, mentoring, equity investment from a Lundin Foundation-anchored fund, and access to an extensive global network to scale up their businesses.
Lundin Energy and the Foundation also made direct equity investments in early-stage renewable energy companies, as well as providing extensive technical and commercial assistance. An investment into Ocean Harvesting Technologies (OHT) helped advance the company and their technology to transform waves into clean, reliable, and cost-efficient energy. In addition, Lundin Energy conducted a successful R&D project with OHT to study the viability of displacing the current energy supply to the Edvard Grieg offshore rig.
Investing in pre-commercial climate companies allows Lundin Energy to drive decarbonization efforts across the energy sector.
“Our investment with the Lundin Foundation adds significant value to our sustainability approach. It has helped us demonstrate that we can support decarbonization of the wider industry, which complements our overall ambition to be a decarbonization leader.”
– Nick Walker, CEO Lundin Energy
Partner Initiatives
Katapult Ocean
NorwayAccelerator and investment fund with a portfolio of 30+ start-ups targeting ocean impact, renewable energy and clean transport.
Evoy
NorwayEarly commercial Norwegian company developing electric marine propulsion systems targeting a zero-emissions marine industry.
Trine
SwedenAward-winning Swedish crowd-lending platform providing working capital to solar companies in Africa.
Ocean Harvesting Technologies
SwedenSwedish pre-commerical, R & D stage wave energy start-up developing scaleable point absorber wave energy converters.
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:
