Heimdall Power raised NOK 35 million from Investinor, BKK, Lyse and Sarsia Invest


Heimdall Power, a Steinkjer, Norway-based energy company announced that it secured ca new capital raise of NOK 35 million.

The funding was provided by existing investors, including Investinor, BKK, Lyse and Sarsia Invest. Lars Ove Skorpen of Pareto Securities fame joins also the shareholders in the company with a financial contribution.

At the same time, teh company announced management changes - Knut Sandveen joins as the new COO company, while Øyvind Teigen is employed as the new CTO. In addition, Dag Honningsvåg joins as the new chairman of the board.

Heimdall Power, founded in 2015 as Policon AS,  has its roots in Steinkjer and makes bullets that attach to high voltage leads and monitors the condition online. This allows for a completely different utilization of the power grid, which today is operated without direct monitoring of the capacity of the lines. The company has 20 employees distributed in offices in Steinkjer, Stavanger, Oslo and Germany.

Prior to this round, Heimdall Power raised almost $7 million.