Greenstat
- Company typePrivate
- Founded2015
- HeadquartersBergen, Norway
- Headcount11–50
- GTM typeB2B
- OfferingServices
Greenstat firmographics
Firmographics- Name
- Greenstat
- Legal name
- Greenstat AS
- Website
- https://greenstat.no
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Greenstat industry classification
Industry- Product category
- Renewable Energy Production
- NAICS
- Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991), Engines & Turbines (3510)
- akta.pro primary industry
- Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending (EUAJAJAF)
- akta.pro secondary industries
- Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI), Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)
Keywords
Where Greenstat is headquartered
LocationHeadquarters
- HQ city
- Bergen
- HQ country
- Norway
- HQ region
- Europe
Offices5 records
Markets served
Greenstat business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Supply Chain
Revenue model
- Sale of Self-Produced Solar/Wind Electricity: Greenstat owns and operates solar power plants (e.g., 45 MWp Petnjik plant in Bosnia) and wind projects. Revenue is generated by selling self-produced electricity to the grid or directly to consumers. Also owns and operates hydrogen production facilities.
- Green Energy Project Development and Ownership: Develops and owns projects and companies contributing to zero-emission solutions and green value creation. Long-term ownership model generating returns from energy production assets.
- Solar System Sales and Installation Services: Through Greenstat Solar Solutions AS, acts as a general contractor selling complete solar systems to external customers (industrial, commercial, agricultural). Handles full project delivery: sales, engineering, procurement, installation, and final inspection. Customer owns the installed system.
- Green Transition Analysis and Consulting: Offers analysis around profitable green transition. Consulting services related to hydrogen, solar, and wind project development.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Greenstat product offering
Product offeringCore offering
Greenstat develops, owns, and operates renewable energy projects focused on green hydrogen production (via water electrolysis), solar power plants, and industrial wind. The company generates revenue by selling self-produced electricity and hydrogen, while also providing turnkey solar system installations through its general contractor subsidiary Greenstat Solar Solutions AS. Greenstat operates multiple hydrogen production hubs across Norway and internationally, with a portfolio of approximately 450 MW in gross capacity across all project types.
Product overview
Greenstat is a Norwegian green energy company organized into specialized sub-brands: Greenstat Hydrogen develops and operates green hydrogen production facilities across Norway through subsidiaries and joint ventures; Greenstat Solar manages and operates solar power plants in Norway and internationally; and Greenstat Solar Solutions provides turnkey solar installation services for residential, agricultural, and commercial customers. The company also develops industrial wind projects. Major projects include hydrogen hubs (Agder, Glomfjord, Stord, Meraker, Viken, Htwo-Fuel, Rørvik), solar power plants (Petnjik 45 MWp in Bosnia, Engene 5.8 MWp in Norway), and wind projects (Elgane, Kjerlingland). The company operates internationally with subsidiaries in India and partnerships across Europe.
Differentiator
Problem solved
Functional benefit
Brands
- Greenstat Solar: Subsidiary managing, owning and operating solar power plants for selling self-produced electricity
- Greenstat Hydrogen
- Greenstat Energy
- GreenPod
Products and services
- Hydrogen Production Green hydrogen production through water electrolysis powered by renewable energy sources (hydroelectric, wind, solar). Hydrogen is supplied for transport, maritime, industrial, and heating applications. Production capacity across multiple facilities including Agder Hydrogen Hub (20 MW), Glomfjord (8 tonnes/day), Stord (140 tonnes/year), and others.
- Industrial Wind Power
Quantifiable outcome
- Petnjik Solar PV Plant produces ~65 GWh/year, enough to contribute significantly to renewable energy share in South-Eastern Europe
- +4 more outcomes
Companies that use Greenstat
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles3 records
Greenstat technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Greenstat partnerships and signals
Strategic signalPartnerships
31 partnerships are on record, tiered core and minor.
- EverfuelcoreGreenstat took over Everfuel's shares in the Agder Hydrogen Hub project and made a final investment decision for the 20 MW hydrogen production plant. Everfuel was previously a partner in Stord Hydrogen and brought experience from its Nyborg facility in Denmark.
- Neptun Tromsø AScoreNeptun Glomfjord Green Ammonia AS is a joint project between Greenstat Hydrogen AS and Neptun Tromsø AS to establish a complete value chain from green hydrogen to green ammonia in Glomfjord Industripark. Planned capacity: 60-100 tonnes green ammonia per day as carbon-free maritime fuel. Neptun Tromsø is a partnership between Troms Kraft and German asset manager Prime Capital AG.
- HYDS (Hydrogen Solutions AS)coreHYDS is the largest owner and operator of Stord Hydrogen AS and delivers the flexible, module-based production plant for compressed hydrogen via electrolysis. Greenstat is a partner in Stord Hydrogen. HYDS has expressed goal of achieving scalable hydrogen production with multiple locations.
- Sustainable Energy Norwegian Catapult CentrecoreGreenstat partnered in Stord Hydrogen AS, the hydrogen production facility located at Energy House test centre premises at Heiane, Stord. The test centre validates new technologies for maritime propulsion systems using hydrogen as fuel.
- Alltec Services AScoreAlltec Services is a partner in Stord Hydrogen AS and CEO of Alltec Services leads the Energy House test centre where the hydrogen production facility is co-located. Alltec leverages energy created during tests at Energy House by converting it to hydrogen.
- Liquiline AScoreLiquiline is the Norwegian partner for Danish Green Hydrogen Systems' electrolysis technology supplied to Stord Hydrogen plant. This is their first delivery of this type of electrolyser to Norway.
- Green Hydrogen Systems A/ScoreDanish company supplying electrolysis technology for Stord Hydrogen plant, through Norwegian partner Liquiline. Their flexible, module-based production plant produces compressed hydrogen via electrolysis.
- Asplan Viak ASminorAsplan Viak was engaged by Greenstat to conduct impact assessments (consequence evaluations) for the planned Grimstad solar power plant project in Reddal.
- Rejlers ASminorRejlers conducted a preliminary grid analysis for the Grimstad solar project area, showing that grid injection of approximately 8 MWp on the AC side can be implemented in the existing grid.
- NORWEP (Norwegian Energy Partners)minorGreenstat participated in NORWEP's roadshow to the Western Balkans together with Norwegian embassies, meeting government representatives, regulators, and local developers and investors in Albania, Montenegro, and Bosnia-Herzegovina.
- Norwegian Embassies (Albania, Montenegro, Bosnia-Herzegovina)minorNorwegian embassies in Albania, Montenegro, and Bosnia-Herzegovina facilitated B2B meetings with regional developers and investors as part of the NORWEP roadshow to the Western Balkans.
- Bjørn Simonsen (Senior Advisor)minorBjørn Simonsen was brought in as Senior Advisor for Greenstat in the period leading toward an IPO. He will also join the board of Greenstat Asia and Greenstat Hydrogen. He was central in the listing process of Nel Hydrogen in 2014 and led Saga Pure as part of its development through 2020.
- GP Toming D.O.O.coreGreenstat Solar partnered with GP Toming D.O.O. to build and operate the 45 MWp Petnjnik solar power plant in Bosnia-Herzegovina. This is Greenstat's first foreign solar investment and the start of a pipeline of co-owned solar projects in Bosnia and the Western Balkans. GP Toming brings valuable long experience in building large solar power plants.
- Deling ASminorDeling is building the main transformer station for the Petnjnik solar power plant in Bosnia-Herzegovina. Deling is a reputable engineering and construction company with expertise in renewable energy projects.
- Htwo-Fuel AS (Co-owners and local developers)coreHtwo-Fuel AS was established in 2021 to make hydrogen and hydrogen carriers available for the maritime market along the West Coast of Norway. Greenstat is co-owner together with developers and local owners. Lutelandet is strategically located on the shipping route between Bergen and Florø.
- NTE (Nord Trøndelag Energi)coreH2 Marine, where Greenstat is the largest owner, built a hydrogen production and bunkering facility together with NTE for a hydrogen-powered aquaculture work boat owned by SalmoNor. The Pilot-E funded project was completed in Q3 2023.
- Troms Kraft AScoreTroms Kraft AS is co-owner in Glomfjord Hydrogen AS (with Greenstat, Nel, Meløy Energi). Troms Kraft entered as owner in 2021 and has been an important partner through its ownership in Neptun Tromsø for realising ammonia as a solution in Glomfjord.
- Meløy Energi AScoreMeløy Energi AS is co-owner in Glomfjord Hydrogen AS, established in 2016 as one of the first developer companies for hydrogen production in Glomfjord Industripark.
- Christian Michelsen Research / NORCEcoreGreenstat was established on 19 January 2015 as a subsidiary of Christian Michelsen Research (now NORCE). This founding relationship established Greenstat's initial expertise and market position in the Norwegian energy sector.
- Nel ASAcoreNel ASA is co-owner in Glomfjord Hydrogen AS (together with Greenstat, Troms Kraft, Meløy Energi) and in Viken Hydrogen AS (with Akershus Energi, Greenstat, Østfold Energi, H2 Energy). Nel has been instrumental in developing Glomfjord Hydrogen with its long history in green hydrogen production.
- Norwegian Hydrogen ASminorGreenstat works closely with Norwegian Hydrogen along with other companies throughout the entire hydrogen value chain.
- Gen2Energy ASminorGreenstat works closely with Gen2Energy along with other companies throughout the entire hydrogen value chain.
- Akershus Energi AScoreAkershus Energi is co-owner of Viken Hydrogen AS, which aims to develop at least 100 MW of electrolysis capacity around the Oslofjord for decarbonisation of industry and heavy transport.
- Østfold Energi AScoreØstfold Energi is co-owner of Viken Hydrogen AS, expanding the regional footprint for green hydrogen development around the Oslofjord region.
- H2 Energy AScoreH2 Energy is co-owner of Viken Hydrogen AS, contributing to the development of at least 100 MW electrolysis capacity in the Oslofjord region.
- JB Ugland Fornybar Energi ASminorJB Ugland Fornybar Energi AS and Greenstat are exploring the possibility of creating an Energy Hub at Kjerlingland, combining green hydrogen from industrial wind and solar with utilisation of excess heat from hydrogen production. Hydrogen to be filled directly for heavy traffic along E-18 highway.
- Indian Oil Corporation LtdminorGreenstat Hydrogen India collaborates with Indian Oil, the state-owned energy company, as part of its strategy to partner with the most important energy and technology companies in India's hydrogen market.
- Peenya GasesminorHYGREEN India Pvt Ltd is a joint venture with Peenya Gases where Greenstat India owns 49% equity. The venture aims to set up a 1 MW (18 kg/hr) green hydrogen plant with 5 MW solar farm, targeting local retail consumers of green hydrogen gas.
- Axis Energy / Brookfield (ABC Clean Tech JV)minorABC Clean Tech is a joint venture platform between Axis Energy and Canadian asset manager Brookfield to develop, own and operate Green Hydrogen and derivatives projects in India. Greenstat Hydrogen India is sole Knowledge Partner, conducting feasibility studies, assisting with equipment procurement, and exploring export of Green Ammonia and Green Methanol. Target: up to 10% ownership in ABC Clean Tech projects.
- Midwest Heavy Sands (Pvt) LtdminorJoint venture SPV for 100 MW (Phase 1) solar project in Sri Lanka to supply round-the-clock power to Midwest Heavy Sands' mineral processing operations near Trincomalee Port. Land provided on lease; ultimate solar capacity target 1000 MW. Debt:Equity 70:30.
- Skagerak Kraft AScoreSkagerak Kraft co-owns Engene Solar AS (50/50 with Greenstat Solar AS) for the 5.8 MWp Engene solar power plant in Larvik, Norway. Investment of approximately NOK 45 million. Engene Solar AS is the project company.
Scale indicators11 records
Recent moves9 records
Expansion highlights6 records
Greenstat competitors and assessment
Company assessmentRegional players
- Otovo ASA: Otovo is a Norwegian residential and commercial solar installer with a subscription-based business model. It is comparable to Greenstat Solar Solutions' turnkey solar installation services in the Norwegian market, though focused on smaller-scale residential vs. Greenstat's commercial and agricultural focus.
Direct peers
- Norwegian Hydrogen AS: Norwegian Hydrogen is a Norway-based green hydrogen producer with similar focus on distributed production facilities. Greenstat works closely with Norwegian Hydrogen across the value chain, and both target maritime and industrial hydrogen customers in Norway.
- Nel ASA: Nel ASA is the leading global electrolyser manufacturer and a hydrogen value chain partner of Greenstat (co-owner in Glomfjord Hydrogen and Viken Hydrogen). Nel has similar Norwegian roots and pursues the same green hydrogen infrastructure opportunity, making it the most direct comparable for technology, market access, and capital requirements.
- Everfuel: Everfuel is a Nordic green hydrogen production and distribution company that was previously a partner in Stord Hydrogen and Agder Hydrogen Hub before Greenstat took over its shares. Everfuel pursues the same Nordic green hydrogen buildout and serves as a near-direct competitor in the Norwegian market.
- Gen2Energy AS: Gen2Energy is a Norwegian green hydrogen producer developing small to mid-scale hydrogen production facilities. Greenstat works with Gen2Energy across the hydrogen value chain, and both target similar customers in maritime and industrial segments in Norway and Europe.
- HYDS (Hydrogen Solutions AS): HYDS is a Norwegian hydrogen technology and project developer and the largest owner of Stord Hydrogen where Greenstat is a partner. HYDS pursues the same small-to-mid scale hydrogen plant model with modular electrolyser technology, serving overlapping Norwegian customers.
- Norsk Solar AS: Norsk Solar is a Norwegian solar energy developer focused on emerging markets, with utility-scale projects comparable to Greenstat's Petnjik plant in Bosnia. Similar geography (Norway-headquartered, emerging-market operations), similar scale, and overlapping customer segments in commercial/industrial solar.
Broad incumbents
- Scatec ASA: Scatec is a Norwegian renewable energy developer and IPP active in solar, wind, and storage across emerging markets. Comparable to Greenstat Solar's utility-scale solar development model (e.g., Petnjik), though Scatec operates at significantly larger scale and broader geographic footprint.
- Aker Clean Hydrogen: Aker Clean Hydrogen is a large-scale, publicly backed hydrogen developer that was Greenstat's earlier strategic investor and partner. While broader in scope and larger in scale, Aker pursues the same Norwegian and European green hydrogen infrastructure opportunity and represents a higher-capital alternative pathway for the market.
- Fred. Olsen Renewables: Fred. Olsen Renewables is a large Norwegian wind, solar, and hydrogen developer and operator with significant asset base. Comparable to Greenstat's industrial wind focus and broader renewable energy project development model, though at substantially larger scale with longer operating history.
Market position
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Greenstat social profiles
Digital presenceGreenstat financial estimates
Financial estimateRevenue estimate
Valuation estimate
Greenstat leadership team
Management profileNumber of profiles
Profiles7 records
Greenstat subsidiaries and ownership
Company hierarchySubsidiaries6 records
Greenstat funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Greenstat M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Greenstat
What does Greenstat do?
Greenstat develops, owns, and operates renewable energy projects focused on green hydrogen production (via water electrolysis), solar power plants, and industrial wind. The company generates revenue by selling self-produced electricity and hydrogen, while also providing turnkey solar system installations through its general contractor subsidiary Greenstat Solar Solutions AS. Greenstat operates multiple hydrogen production hubs across Norway and internationally, with a portfolio of approximately 450 MW in gross capacity across all project types.
Is Greenstat a public or private company?
Greenstat is a private company. It is classified as corporate owned and is currently operating.
When was Greenstat founded?
Greenstat was founded in 2015. It employs 11 to 50 people.
Where is Greenstat based?
Greenstat is headquartered in Bergen, Norway, in the Europe region.
How does Greenstat make money?
Four revenue lines are on record. Sale of Self-Produced Solar/Wind Electricity is the primary driver. The others are green Energy Project Development and Ownership, solar System Sales and Installation Services and green Transition Analysis and Consulting.
Who are Greenstat's main competitors?
Otovo ASA is listed as a regional player. Direct peers are Norwegian Hydrogen AS, Nel ASA, Everfuel, Gen2Energy AS, HYDS (Hydrogen Solutions AS) and Norsk Solar AS. Broad incumbents are Scatec ASA, Aker Clean Hydrogen and Fred. Olsen Renewables.
Does Greenstat have an API?
No public API is recorded for Greenstat.
What industry is Greenstat in?
Greenstat's product category is Renewable Energy Production. Its primary akta.pro industry code is EUAJAJAF, Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending, with a secondary code of EUAMAOAI, Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls). Its NAICS code is 221114 and its SIC code is 4991.