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.

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.

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.

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.

Scatec Innovation's stated mandate is renewable energy and advanced materials. The firm does not list any technology verticals it explicitly avoids, but its concentration in industrial decarbonization — solar manufacturing, rare earth separation, thermoelectrics, titanium additive manufacturing — suggests a deliberate non-participation in software, consumer internet, and biotech beyond radionuclide production.

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.

No public philanthropic foundation or charitable vehicle associated with Scatec Innovation or its principals has been disclosed. The firm's website lists a 'We support' page, but no details are publicly accessible to characterize the nature or scale of that support.