Nordic Technology Group

What Nordic Technology Group does

Nordic Technology Group AS (NTG) is an Oslo-based, Euronext-listed industrial holding company founded in 2021 to acquire, protect, and internationally scale patented Norwegian deep-technology assets. The group operates four wholly-owned subsidiaries organized into two verticals. The Sensor Technology vertical comprises Hammertech AS, which produces the AquaField™ platform — marketed as the world's first PVT-independent Multiphase Fraction & Salinity Meter for the oil and gas industry, with sub-products AquaField™ GREEN (water cut), AquaField™ GOLD (multiphase flow), and AquaField™ Mud Meter (real-time mud logging) — and Wavetrain Systems AS, an ISO 9001-certified provider of level crossing warning systems in which all components are sited within 15 meters of the crossing. The Clean Technology vertical comprises MossHydro, which supplies filter solutions for seawater, brackish water, and freshwater applications, and Hystorsys, a spin-off from the Norwegian Institute for Energy Technology that builds hydrogen compressors and solid-state storage systems based on metal hydride technology, characterized by no moving parts and the ability to operate on waste heat at near-zero energy cost.

NTG's business model is industrial holding-style rather than direct product sales: the parent supplies capital, an experienced management team, internationalization expertise, and an executive network to portfolio companies, which then sell hardware and engineered solutions through direct enterprise sales channels to B2B customers in their respective verticals (oil & gas operators, railway authorities, municipal and industrial water buyers, and clean energy companies). Pricing is quote-based and not publicly disclosed; revenue is generated through portfolio company operations rather than group-level fees. Revenue figures are not disclosed in the source material, while group-level scale signals include 98M NOK invested across the portfolio, an average of 42 employees across portfolio companies, and a stated 300 investors on the NTG homepage.

The group is led by founder and Group CEO Rune Rinnan, with Sverre Slåttsveen as Group CFO/EVP, subsidiary CEOs Pål Bratlie (Wavetrain) and Kaare Lunde (Hammertech), and Chairman Henrik A. Christensen. NTG is positioned as an explicit alternative to private equity exits, with a stated objective of retaining Norwegian IP and value creation under long-term public ownership.

Name

Nordic Technology Group

Legal name

Nordic Technology Group AS

Website

https://nordictechnologygroup.no

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Nordic Technology Group is a Norwegian-listed industrial holding company that acquires and scales patented Norwegian sensor and clean technology companies, currently operating four wholly-owned subsidiaries serving oil & gas, railway safety, water treatment, and hydrogen storage customers globally.

Ownership category

akta.pro rank

Product category

Industrial Technology Holdings

NAICS

Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (3345), Mining Machinery and Equipment Manufacturing (333131), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Industrial Instruments For Measurement, Display, And Control (3823), Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532)

akta.pro primary industry

Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)

akta.pro secondary industry

NRW Data Management & Water Balance (IWA Methodology, GIS/SCADA Integration, Digital Twins) (EUANAKAJ)

Keywords

• Industrial holding company
• Sensor technology
• Clean technology
• Multiphase flow metering
• Hydrogen storage systems

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Industrial Investment Holdings: NTG operates as an industrial investment group holding four Norwegian technology companies. Revenue is generated through the operational performance of its portfolio companies (Hammertech, Wavetrain Systems, MossHydro, Hystorsys) across sensor and clean technology sectors targeting international markets.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Nordic Technology Group AS is an industrial investment holding company that brings together four innovative Norwegian technology companies under experienced management with internationalization expertise, financial capacity, and an executive network. Through its portfolio companies, NTG develops and commercializes patented sensor technology (multiphase flow metering, railway crossing safety) and clean technology (water filtration, hydrogen compression and storage) for global B2B industrial markets aligned with mega-trends such as energy transition, water scarcity, and railway safety.

Product overview

Nordic Technology Group (NTG) is an industrial investment holding company that brings together four innovative Norwegian technology companies under experienced management. The group focuses on two main technology areas: Sensor Technology and Clean Technology. Within Sensor Technology, NTG portfolio includes Hammertech (multiphase flow metering with its AquaField™ platform including GREEN, GOLD, and Mud Meter products) and Wavetrain Systems (railway crossing safety systems). Within Clean Technology, NTG portfolio includes MossHydro (water filtration solutions) and Hystorsys (hydrogen compressors and storage systems using metal hydride technology). The group's strategy leverages patented technology and competitive advantages to enable international growth for its portfolio companies.

Differentiator

Problem solved

Functional benefit

Products and services

• AquaField™ GREEN Multiphase Water Cut Meter A water cut meter that identifies shifts in water production from individual wells and provides critical measurements including oil and gas fractions and salinity. Built for oil and gas operators needing production monitoring.
• AquaField™ GOLD Multiphase Flow Meter A state-of-the-art multiphase flow measurement device specifically designed to measure production flow rates and salinity from individual oil and gas wells.
• AquaField™ Mud Meter A drilling fluid logging solution that optimizes mud logging through digitalization and automation with online and real-time measurements. Designed for oil and gas drilling operators.
• Wavetrain Level Crossing Warning System An ISO 9001 certified railway crossing safety system that detects trains directly at level crossings. All components are located within 15 meters, reducing installation complexity and lifecycle cost for railway authorities and infrastructure operators.
• MossHydro Water Filtration Solutions Cutting-edge filter solutions for filtering water from seawater, brackish water, and freshwater. Built on highly automated manufacturing with improved self-cleaning ability, reduced footprint, and low maintenance requirements for industrial and municipal water treatment customers.
• Hystorsys Hydrogen Compressor and Storage System A hydrogen compressor and storage system based on metal hydride technology with no moving parts and minimal noise or vibrations. Can be operated at near-zero energy cost using waste heat, with solid-state hydrogen storage at low pressures for clean energy companies.

Quantifiable outcome

• Addresses 8 of the top 10 global challenges according to the United Nations

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators4 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Indutrade: Swedish industrial holding company that acquires and grows niche industrial technology businesses across diverse verticals. Closely comparable to NTG's holding structure, acquisition-led growth model, and decentralized operating model, though at significantly larger scale (SEK ~20B+ revenue).
• Lifco: Swedish serial acquirer of niche industrial and infrastructure businesses, holding 200+ operating companies. Comparable to NTG as an industrial holding group pursuing decentralized growth of small-to-mid-sized technology businesses with strong margins.
• AddTech: Swedish industrial group acquiring and developing companies in industrial components, machinery, and process technology. Comparable to NTG as a Nordic industrial holding focused on technical B2B niches with a bolt-on acquisition strategy.
• Lagercrantz: Swedish technology group that owns and develops niche technology businesses in IT, electronics, and industrial sensors. Comparable to NTG's focus on sensor technology and clean tech verticals, with a similar decentralized holding structure and niche acquisition strategy.
• Endress+Hauser: Swiss family-owned industrial measurement instrumentation specialist serving process industries including water, oil and gas, and chemicals. Comparable to Hammertech's measurement technology focus and MossHydro's industrial water customer base.

Emerging players

• Nel ASA: Norwegian hydrogen technology company providing electrolyzers and hydrogen fueling solutions. Comparable to Hystorsys as a Norwegian hydrogen technology business serving the clean energy transition, though Nel is much larger and publicly traded.
• Hexagon Purus: Norwegian-based company developing composite pressure vessels and hydrogen storage systems for clean mobility. Comparable to Hystorsys's hydrogen storage business and its Norwegian clean-tech roots.

Broad incumbents

• SLB (formerly Schlumberger): Global oilfield services leader offering multiphase flow metering and production optimization technologies. Comparable to Hammertech's AquaField multiphase meter business in oil and gas production measurement, though at vastly greater scale and with a full-service offering.
• Emerson Electric: Global industrial automation and measurement instrumentation provider serving oil and gas, water, and process industries. Comparable to NTG's portfolio as a broad incumbent in industrial measurement, automation, and process control across similar end markets.
• Xylem: Global water technology company providing pumps, filtration, and treatment solutions for utilities and industrial customers. Comparable to MossHydro's water filtration business as a broad incumbent in industrial and municipal water treatment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nordic Technology Group