Verdande Technology and Aptomar serve the oil & gas industry with software and hardware solutions. Verdande Technology’s EDGE software identifies and analyzes data patterns real-time, using past events to predict future problems. Aptomar provides products for marine surveillance and oil spill detection and has a strong position in Norway, the Gulf of Mexico and Brazil. The two companies were founded in 2005 and 2004, respectively, and are both headquartered in Trondheim.
“We have been active in the Trondheim region, which is known for great entrepreneurship and technology spinouts, for nearly a decade. Verdane funds have invested in companies such as Reslab, Smartmotor, Resman and Industriverktøy in the area, and we are looking forward to working closely with Verdande Technology, Aptomar and the other owners to make them even stronger. We have developed 100-day plans for both companies that already are being put into action,” says Lars Ekström, Investment Manager at Verdane Capital Advisors.
Verdane funds have invested in a number of energy technology companies in Norway and most recently sold SmartMotor to Rolls Royce Marine in August 2013. During Verdane Capital V’s ownership, SmartMotor increased revenues six-fold and moved from being a small Norwegian technology company to a global leader in customised Permanent Magnet (PM) machines. Verdane Capital V has also invested in the Trondheim-based company Resman, which offers wireless reservoir surveillance technology to the upstream oil & gas industry.
“We are very pleased to bring Verdane in as a new investor in both Aptomar and Verdande. We know Verdane as a value adding co-investor in Resman, and are confident that they will add value in Aptomar and Verdande also,” says Ståle Myhre, Investment Director of Statoil Technology Invest.
Investinor also welcomes Verdane as co-investor.