From left: Founders Stig Kalvenes, Øyvind Bakke, and Vidar Rabben, are seeking new investors to grow the business.

Hybrid power expert Fjord Maritime seeks investors for expansion


The owners of hybrid power systems supplier Fjord Maritime have announced that they are looking for new partners to bring more capital into the company for expansion.

“We aim to drive the green revolution within the maritime and aquaculture sectors. It is ambitious, but the need is there. Therefore, we must gain access to strategic capital and new partners who can help escalate growth in the coming years,” said chief executive Vidar Rabben.

Fjord Maritime, which has supplied battery banks and operating hardware and software for hybrid feed barges in Norway, Chile, Scotland, and Canada, has a turnover of NOK 180 million in 2022 and has increased its workforce from three to 50 since 2016.

Founders Øyvind Bakke, Stig Kalvenes, and Vidar Rabben say the Norwegian company has a bright future which will contribute to the aquaculture industry reaching its climate goals.

Reducing emissions

“With our complementary background and over 40 years of experience in the aquaculture industry, we can quickly familiarise ourselves with customers’ situations and deliver the best solutions in close cooperation with industry players,” they said in a press release.

“Our most important role is to support the industry with excellent and forward-looking solutions to jointly reduce emissions and, not least, to reach the industry’s goal of zero emissions by 2050.

“After several inquiries, we have decided to engage DNB Markets as an adviser to help us with a strategic review.”

Fjord Maritime also sees opportunities to transfer its sustainable energy solutions to land-based industries and businesses nationally and globally.