Nysnø
Nysnø Klimainvesteringer AS is Norway's state-owned climate investment company that provides long-term venture and growth capital, both direct and fund-of-funds, to early-stage climate technology companies alongside private investors. Founded in 2017 and managing 5.5 billion NOK, it channels state capital into emissions-reducing ventures.
- Company typePrivate
- Founded2017
- HeadquartersStavanger, Norway
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Nysnø does
Nysnø Klimainvesteringer AS is Norway's state-owned climate investment company, established in December 2017 by the Norwegian Ministry of Trade, Industry and Fisheries (Nærings- og fiskeridepartementet) and operational since June 2018. Headquartered in Stavanger with a secondary office in Oslo, the firm employs approximately 20 people under CEO Siri Kalvig. Its mandate is to make long-term investments in companies and funds that contribute to reducing greenhouse gas emissions, and it invests always alongside private investors in order to mobilize private capital into the climate transition.
Nysnø's business model is a hybrid of direct equity investing in early-stage climate technology companies and fund-of-funds investing in specialist climate VC and growth funds. As of end-2025, the portfolio comprised 49 investments (25 direct, 24 fund investments) spanning sectors including green hydrogen (Hystar, ZEG Power, AP Ventures), battery materials and gigafactories (Cenate, Morrow Batteries), rare earths and critical minerals (REEtec), carbon storage (44.01), subsea desalination (Flocean), autonomous maritime (Maritime Robotics), semiconductors (Lace Lithography), precision agriculture AI (DAT, Nofence, Ducky), and software for emissions measurement (MoreScope, Metizoft, eSmart Systems, Spoor). The firm manages approximately 5.5 billion NOK in assets and reported 244 million NOK in pre-tax profit and a 6.9% gross return on investments in 2025. Each krone Nysnø invests directly has mobilized an average of 7.8 kroner from other investors in 2025, and since inception Nysnø has contributed capital to 429 climate technology companies through direct and indirect channels.
The firm generates economic returns through capital gains, dividends, interest, and management fees on its fund investments. As a state-owned entity operating commercially under a public-policy mandate, Nysnø balances financial return with quantified climate impact, applying a proprietary "Klimaeffekt metodikk" to evaluate investments and calculate avoided emissions. It is not a software or product company, has no products or APIs of its own, and earns no revenue from sales of goods; its outputs are portfolio companies, fund commitments, and documented climate impact. Notable risk exposures include the May 2026 bankruptcy of Morrow Batteries following a ~1 billion NOK investment, illustrating the execution risk inherent in deep-tech climate investing.
Nysnø firmographics
Firmographics- Name
- Nysnø
- Legal name
- Nysnø Klimainvesteringer AS
- Website
- https://nysnoinvest.no
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Nysnø Klimainvesteringer AS is Norway's state-owned climate investment company that provides long-term venture and growth capital, both direct and fund-of-funds, to early-stage climate technology companies alongside private investors. Founded in 2017 and managing 5.5 billion NOK, it channels state capital into emissions-reducing ventures.
- Ownership category
- akta.pro rank
Nysnø industry classification
Industry- Product category
- Climate Investment / Venture Capital
- NAICS
- Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399)
- SIC
- Investors, Nec (6799)
- akta.pro primary industry
- Energy & Sustainability / Climate Growth Equity (FSANACAG)
- akta.pro secondary industries
- Climate / Clean Tech & Decarbonization Funds (FSANAJAA), Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD), Environmental & Resource Efficiency Funds (Water, Waste, Recycling, Efficiency) (FSANAEAE)
Keywords
Where Nysnø is headquartered
LocationHeadquarters
- HQ city
- Stavanger
- HQ country
- Norway
- HQ region
- Europe
Offices2 records
Markets served
Nysnø business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Investment Returns: Nysnø generates returns through capital gains, dividends, and interest from its portfolio of direct investments in climate technology companies and fund investments. As a state-owned investment company, it operates commercially while fulfilling a public mission of reducing greenhouse gas emissions.
- Management Fees: Revenue from managing fund investments and co-investment structures, generating fee income from portfolio management activities.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Nysnø product offering
Product offeringCore offering
Nysnø Klimainvesteringer AS is Norway's state-owned climate investment company, deploying long-term risk capital into early-stage climate technology companies through direct equity investments and into climate-focused venture and growth funds through fund investments. The company always invests alongside private investors, mobilizing additional capital (an average of 7.8 NOK of private capital per 1 NOK directly invested in 2025) and targeting both financial return and measurable greenhouse gas reduction. As of end-2025, it managed approximately NOK 5.5 billion in assets across 49 portfolio investments and contributed capital to 429 climate technology companies since inception.
Product overview
Nysnø Klimainvesteringer (Nysnø) is a Norwegian state-owned climate investment company that provides venture capital and growth financing to early-stage climate technology companies. The company makes both direct investments in individual companies and fund investments, building a portfolio that balances risk, return, and climate impact. Their investment services focus on financing companies that contribute to reducing greenhouse gas emissions across sectors including renewable energy, digital technologies, resource efficiency, sustainable consumption, and circular economy. Nysnø does not offer a software product, platform, or technology solution; its offering consists of investment capital, risk financing, and portfolio management services for climate technology companies.
Differentiator
Problem solved
Functional benefit
Products and services
- Direct Equity Investments in Early-Stage Climate Technology Companies Long-term risk capital invested directly into early-phase (pre-seed to growth) climate technology companies developing solutions that reduce greenhouse gas emissions across renewable energy, digital technologies, resource efficiency, sustainable consumption, and circular economy. Nysnø typically leads or co-leads investment rounds alongside private investors.
- Fund-of-Funds Investments in Climate-Focused Venture and Growth Funds Capital commitments to climate-focused venture and growth funds in Norway and internationally, enabling a diversified portfolio that balances risk, return, and climate impact across geographies and stages.
Quantifiable outcome
- Contributed capital to 429 climate technology companies since inception
- +2 more outcomes
Companies that use Nysnø
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles2 records
Nysnø technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Nysnø partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Maritime CleanTechcoreNysnø and Maritime CleanTech co-produce the Klimaklok podcast focused on climate technology and transition. Maritime CleanTech is a world-leading Norwegian cluster for green shipping.
- Skift – Næringslivets klimaledereminorNysnø became a member of Skift, a member organization that brings together business leaders to discuss how to cut emissions by 2030 while creating competitiveness for Norwegian business. Skift works with major climate transitions toward a zero-emission society in areas such as food and agriculture, buildings and property, mobility, and energy.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Nysnø competitors and assessment
Company assessmentDirect peers
- Astanor Ventures: European impact venture fund focused on food, agriculture, and climate tech; Nysnø is an LP in Astanor's Good Harvest Ventures I fund. Directly comparable as an early-stage climate impact investor with overlapping thesis in sustainable food and agricultural systems.
- European Investment Fund: EIF is an EU body owned by the European Investment Bank that invests in climate-tech, venture, and growth funds across Europe. Comparable in fund-of-funds strategy, sovereign backing, and Article 9-aligned climate mandates, though substantially larger and EU-wide.
- Swedfund: Swedish state-owned development finance institution making sustainable investments in developing markets. Comparable as a Nordic state-owned investor with a climate and sustainability mandate, though Swedfund's focus is emerging markets vs. Nysnø's Norway-first thesis.
- Breakthrough Energy Ventures: Bill Gates-backed venture fund investing exclusively in climate-tech startups across energy, transportation, agriculture, and buildings. Direct competitor/peer for sourcing climate-tech deals and a co-investment partner referenced in Nysnø's broader climate ecosystem.
- Generation Investment Management: Co-founded by Al Gore, invests in sustainable public and private companies with a long-term horizon. Comparable as a long-duration, sustainability-led investment manager balancing financial returns with measurable climate impact.
- KfW Capital: German federal government-owned growth/venture fund-of-funds managed under KfW Group, investing in tech and climate venture and growth funds with German and European focus. Closest structural analog to Nysnø as a sovereign-backed fund-of-funds with co-investment capabilities.
- Bpifrance: French state-owned investment bank providing direct equity, fund-of-funds, and climate innovation financing, with both early-stage and growth mandates. Directly comparable state-owned model with an explicit climate/transition pillar supporting French and European companies.
- Finnish Climate Fund: Finnish state-owned climate investment company with a mandate to combat climate change through domestic and Nordic investments. Near-identical structural model to Nysnø in mission, ownership (Finnish state), and Nordic regional focus.
Broad incumbents
- Temasek Holdings: Singapore state-owned investment company managing a diversified global portfolio. Comparable in sovereign ownership and long-term capital pool, but operates at vastly greater scale with non-climate thematic focus — an incumbent reference for how state-owned capital can be deployed.
- KfW Group: German state-owned development bank, parent of KfW Capital and DEG. Comparable as a sovereign-backed German development and climate finance institution; broader mandate includes green bonds, project finance, and SME lending beyond venture/growth equity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Nysnø social profiles
Digital presenceNysnø financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nysnø leadership team
Management profileNumber of profiles
Profiles7 records
Nysnø funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nysnø M&A and investment
M&A and investmentM&A
Investments34 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nysnø
What does Nysnø do?
Nysnø Klimainvesteringer AS is Norway's state-owned climate investment company, deploying long-term risk capital into early-stage climate technology companies through direct equity investments and into climate-focused venture and growth funds through fund investments. The company always invests alongside private investors, mobilizing additional capital (an average of 7.8 NOK of private capital per 1 NOK directly invested in 2025) and targeting both financial return and measurable greenhouse gas reduction. As of end-2025, it managed approximately NOK 5.5 billion in assets across 49 portfolio investments and contributed capital to 429 climate technology companies since inception.
Is Nysnø a public or private company?
Nysnø is a private company. It is classified as state government owned and is currently operating.
When was Nysnø founded?
Nysnø was founded in 2017. It employs 1 to 10 people.
Where is Nysnø based?
Nysnø is headquartered in Stavanger, Norway, in the Europe region.
How does Nysnø make money?
Two revenue lines are on record. Investment Returns are the primary driver. The others are management Fees.
Who are Nysnø's main competitors?
Direct peers on record are Astanor Ventures, European Investment Fund, Swedfund, Breakthrough Energy Ventures, Generation Investment Management, KfW Capital, Bpifrance and Finnish Climate Fund. Broad incumbents are Temasek Holdings and KfW Group.
Does Nysnø have an API?
No public API is recorded for Nysnø.
What industry is Nysnø in?
Nysnø's product category is Climate Investment / Venture Capital. Its primary akta.pro industry code is FSANACAG, Energy & Sustainability / Climate Growth Equity, with a secondary code of FSANAJAA, Climate / Clean Tech & Decarbonization Funds. Its NAICS code is 52394 and its SIC code is 6799.