The Norwegian Investment Company Saga Pure ASA has entered into an agreement to invest NOK 75 mill into Sarsia Seed portfolio company Heimdall Power AS to help accelerate the company’s growth strategy. The total transaction was 155mNOK involving existing investors and KLP.
Saga Pure will hold 16,5 percent of the company following the transaction, and will be appointed to the Board of Directors.
– Heimdall Power is an extremely exciting technology company with proprietary smart grid solutions that help grid companies digitalize their power grids and improve operations. The electric grid is the worlds’ largest man-made machine, spanning the entire globe. It’s also an essential infrastructure to enable a sustainable, green energy transition. However, the grid needs to become smarter and more digital like everything else. It needs an upgrade to prepare for a new energy future. Heimdall has a proven technology which combines state-of-the-art sensors with artificial intelligence to ensure optimized grid performance. We look forward to supporting the company in the upcoming growth and expansion phase,” says Bjørn Simonsen, CEO of Saga Pure.
Existing owners will also participate in the capital increase. Investinor enters with 30 mNOK. Sarsia, BKK Spring, Lyse Vekst and Hafslund Ny Energy contribute a total of NOK 20 million, equally distributed.
– This transaction confirms the potential we saw in Heimdall Power when we invested in the company right after the start-up, says Jon Berg, partner in Sarsia.