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Scatec Innovation
Scatec Innovation contributes to innovation within renewable energy and advanced materials. It paves the way for new ideas to be developed into sustainable...
Scatec Innovation
Scatec Innovation contributes to innovation within renewable energy and advanced materials. It paves the way for new ideas to be developed into sustainable businesses benefiting society and shareholders. Its portfolio ranges from start-ups to listed companies. The firm’s strength is in the development phase, identifying and industrializing promising new technologies, and it generally manages and finances early-phase development on its own.
General information
Firm type
Private Equity
Year founded
1987
Location
Region
Europe
Country
Norway
City
Oslo
Corporate office
Karenslyst allé 9C, NO-0278 Oslo, Norway
Principals
Tone Bjørseth-Andersen
Chairperson
John Andersen, Jr.
CEO
Gisle Bjørnstad
Board Member
Linda Helland
Board Member
Vidur Khanna
Board Member
Nina Brynildsen
Board Member
Petter Barkost
Board Member
Rita Antonsen
Board Member
Sector focus
Frequently asked questions
Who runs investment decisions at Scatec Innovation?
CEO John Andersen jr. and Chairperson Tone Bjørseth-Andersen lead the firm's strategic direction and investment decisions. John Andersen jr. previously spent 12 years at REC group in top operational roles, including COO of the REC Group. The board, which includes professional directors such as Gisle Bjørnstad and Linda Helland, works closely with management on portfolio composition and technology selection.
How does Scatec Innovation source its technology bets?
The firm develops and industrializes early-stage technologies predominantly through its internal network and Alf Bjørseth's legacy in the Nordic deep-science community. Scatec Innovation manages early-phase development in-house, identifying promising technologies in renewable energy and advanced materials, then building companies around them before seeking external growth capital — as seen with REEtec's NOK 1,200 million plant financing in late 2022.
Does Scatec Innovation take outside limited partners, or is it self-funded?
Scatec Innovation does not disclose a fund structure or outside limited partners. The firm states it 'manages and finances early phase development on its own,' implying the family holding company Alchemia Capital provides development-stage capital. Portfolio companies subsequently raise project or growth financing from external investors, as REEtec did in 2022.
What is the relationship between Scatec Innovation and the listed company Scatec ASA?
Scatec ASA, formerly known as Scatec Solar, is a portfolio company of Scatec Innovation and operates independently as a leading renewable power producer. Scatec Innovation acts as an industrial developer and anchor shareholder. In February 2023, Scatec ASA sold its South African Upington plant for NOK 569 million to recycle capital into further growth, a decision executed by Scatec ASA management rather than directly by Scatec Innovation.
Where does the underlying capital come from?
The firm was founded by Alf Bjørseth, a Norwegian scientist and entrepreneur who built a fortune through solar-industry company creation — starting with ScanWafer in 1994. Since 2017, control has passed to his daughter Tone Bjørseth-Andersen and her husband John Andersen jr., who co-own Scatec Innovation with their three children through the holding company Alchemia Capital.
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