Statoil Technology Invest - commercialising technologies within the oil and gas industry

Statoil recognizing the need to support SMEs, particularly during the first critical years before their technologies have achieved commercial success, formed Statoil Technology Invest (STI) to provide expert technical and financial guidance as well as project based or venture capital funding. STI is staffed with Statoil employees with experience in venture, M&A and developing oilfield technology companies.

From ideas to companies

At STI we invest in companies with varying levels of maturity. We have divided them into three phases: STI’s LOOP program provides project funding and access to technical expertise & pilots without taking ownership, while SEED funding and Venture Capital both involve STI paying for an ownership stake in a company.

LOOP program

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STI's LOOP program provides project specific funding, technical expertise and access to pilot wells without taking an ownership stake in the company. Companies applying for LOOP funding can in many cases have other commercial technologies but require Statoil's technical expertise and financing to accelerate the development of a specific technology of interest to Statoil. Portfolio includes:

E Plug AS, ISPAS AS

Seed funding

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SEED funding would typically be used for companies with technologies at or around the proof of concept stage. When working with SEED companies STI typically focuses on developing their technologies, validating prototypes and eventually piloting the technology. Portfolio includes:

Bio Architecture Lab, Inc, Danotek Motion Technologies LLC, Energreen

Venture capital

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Venture capital would be applied to companies with commercial or near commercial technologies. When working with Venture companies STI typically focuses on validating the technology and building the organization to support sales and service delivery. Portfolio includes:

Resman AS, Aptomar AS, Marine Cybernetics AS, Octio AS, Sekal AS