Green energy and clean technology

Hydro power station, Øvre Forsland. Credit: Stein Hamre Arkitektkontor

Norway is a unique location for energy-intensive industries with ambitions for reducing their carbon footprint.

Norway is a treasure chest when it comes to renewable energy. 98% of electricity production in Norway is renewable, and in a typical year, Norway produces more energy than it consumes. This leads to extremely competitive prices and minimal greenhouse gas emissions.

We welcome energy-intensive, international companies with climate ambitions to Norway.

A Global Green Processing Industry

Since the beginning of the last century, international companies have strategically placed their metal processing and extrusion operations in Norway. Highly efficient hydropower plants are located in the fjords with access to deep water ports. Today, the industrial sector consumes approximately 50 TWh of power annually, and comprises a significant share of overall value-added in Norway.

In 2017, Norway’s exports amounted to a total of USD 153 billion. Many of our export-intensive industries are based on access to low-cost, reliable, and clean energy. In fact, metal alone accounted for approximately 6.2% of total exports (USD 9.5 billion) in 2017.

Norway is extremely ambitious with regards to achieving the UN sustainability goals. The Norwegian process industry recently developed a roadmap for carbon neutrality by 2050, as a response to the Paris Agreement. The advantages of selecting a site in Norway are therefore manifold, as there is an entire ecosystem across the country with world-leading expertise on how to be sustainable and highly profitable.

Circular economy and carbon management

Within the circular economy, we would especially like to highlight the opportunities within CCU, Carbon capture and utilization and storage. Norway is a very competitive country for CCUS; we have a long history and thus knowledge on carbon capture and storage through our oil and gas industry, we have a surplus of renewable power to produce green hydrogen and we are building a national highway for CO2 transport, making available large quantities of CO2.

Although Norway has focused primarily on CCS, the recycling or utilization of carbon (CCU) is a new industrial opportunity that Norway wants to pursue. It is also a necessity in a world where the natural biomass is not sufficient to supply the population and where the use of fossil hydrocarbons have to be reduced due to the climate challenge.

We would like to invite foreign companies and investors to set up CCU facilities, to do testing or demo or to invest in some of the ongoing projects in Norway.

Norway’s main advantages within CCU are

  • A surplus of renewable energy to produce hydrogen
  • The possibility of producing blue hydrogen through steam reforming of natural gas with CCS
  • An extensive experience and knowledge of CCS from our oil and gas industry
  • The national CCS project and the Northern Lights project

In Norway today, there are several projects on carbon capture and utilization, including projects on producing e-fuel, both from a chemical process but also by using biotechnology (fermentation). There are projects on producing PHA (plastics) and also a very exciting project on producing single cell protein, targeted towards the large aquaculture market in Norway.

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Per Stensland

  • Investment Manager
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Explore green energy and clean tech

A green industry with hydrogen

Norway is also in a unique position to become a large producer of blue hydrogen. In 2017 weexported 117.4 billion m3 of natural gas, enough to produce about 25 million tonnes of hydrogen. Norway also has extensive experience with CCS, and considerable capacity for CO2 storage on the Norwegian continental shelf.

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Forestry

Norway’s productive forest covers nearly 20 million acres, divided between 129,000 properties throughout the country. Norway spruce and pine are the most common species of wood in Norwegian forests, comprising approximately 79% of the total volume. The fibre properties of Norway spruce make it well suited for the production of high-quality niche products.

Battery power

Norway is uniquely positioned and qualified in battery development and production. Parts of the battery value chain are very energy-intensive, and thus ideally suited to places with easy access to affordable, renewable energy, like Norway, where 98% of all energy comes from renewable sources.

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Data Centers

Data centers are the foundation of the digital infrastructure upon which our modern lives rely. Data centers are also quite energy intensive, especially large so-called hyperscale facilities that house the “cloud” where both businesses and consumers store, process and access their data.

Norway has a unique combination of natural resources, technological expertise and a regulatory environment that makes it an environmentally optimal location for such large data centers. 98% of electricity production in Norway is based on renewables, like hydro and wind. In a typical year, Norway produces more electricity than it consumes, and based on increased production of wind power, the Norwegian energy directorate estimate that the surplus will continue to grow.

In addition to our abundance of low-cost renewable energy sources, our cool climate enables energy-efficient cooling, and several locations involve reuse of existing infrastructure and/or excess heat.

In addition to the clean technologies found in Norway, the country is also famed for its creative and skilled work force, innovation, production companies and fast time to market. No matter which cleantech you are interested in, you know you will find your interests in good hands in Norway.

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