Lyse Vekst AS
Lyse Vekst AS is the corporate venture arm of Lyse AS, a municipally-owned Norwegian energy and telecom conglomerate, investing in early-stage technology and renewable energy companies across Stavanger, Norway.
- Company typePrivate
- Founded1999
- HeadquartersStavanger, Norway
- Headcount—
- GTM typeB2B
- OfferingServices
What Lyse Vekst AS does
Lyse Vekst AS is the venture investment arm of Lyse AS, a Norwegian energy and telecommunications conglomerate owned by 15 municipalities in Southern Rogaland and Agder. As a corporate venture entity, Lyse Vekst AS invests in early-stage technology and renewable energy companies, leveraging the broader Lyse Group's infrastructure expertise and regional position. The parent Lyse Group operates across four core business areas: renewable energy (32 hydroelectric power plants through Lyse Kraft DA with 10 TWh annual production and 2,500 MW installed capacity, co-owned 74.4% with Hydro); telecommunications (Lyse Tele AS operating Altibox fiber broadband with 708,913+ customers and ice mobile services, including 5G rollout); grid infrastructure (Lnett AS as regulated monopoly electricity grid operator across 9 municipalities under NVE oversight); and circular energy/district heating (Lyse Neo AS, Lyse Bio AS for biogas, Lyse Lux AS for street lighting, and Lyse Lading AS for EV charging).
The group's business model centers on subscription/recurring revenue across regulated and market-based services: regulated grid fees (Lnett), subscription energy sales (Lyse Energi AS for electricity, gas, district heating), telecom subscriptions (Altibox fiber, ice mobile), and infrastructure services. For FY2025, Lyse Group reported NOK 26,659 million in revenue and NOK 3,404 million in annual profit, with 2,410 employees as of December 31, 2025. Geographic reach spans Southern Rogaland (core), Østlandet (Viken Fiber), Northern Norway (Signal Bredbånd), Bergen/Vestland (Bergen Fiber), Dalane/Agder (Altifiber), Molde region (Istad Fiber JV), and Denmark (Altibox Danmark). Lyse Vekst AS specifically channels strategic venture capital into technology and renewable energy startups aligned with the group's green transition strategy, including partnerships with Nordic Edge and Innoasis for 5G/IoT testing infrastructure.
Lyse Vekst AS firmographics
Firmographics- Name
- Lyse Vekst AS
- Legal name
- Lyse Vekst AS
- Website
- https://lysekonsern.no
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Short description
- Lyse Vekst AS is the corporate venture arm of Lyse AS, a municipally-owned Norwegian energy and telecom conglomerate, investing in early-stage technology and renewable energy companies across Stavanger, Norway.
- Ownership category
- akta.pro rank
Lyse Vekst AS industry classification
Industry- Product category
- Corporate Venture Capital
- akta.pro primary industry
- Roll-Up / Buy-and-Build ETA (FSANALAF)
Keywords
Where Lyse Vekst AS is headquartered
LocationHeadquarters
- HQ city
- Stavanger
- HQ country
- Norway
- HQ region
- Europe
Offices1 record
Markets served
Lyse Vekst AS business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Others
Revenue model
- Renewable Energy Sales: Sale of hydroelectric power through Lyse Produksjon AS and Lyse Kraft DA. Revenue from power generation and trading, including financial power and currency portfolio for risk management.
- Energy Sales (Electricity, Gas, District Heating): Lyse Energi AS sells electricity, gas, district heating, and cooling to homes, housing cooperatives, and businesses. Also includes EV charging services through Lyse Lading AS.
- Telecommunications Services: Lyse Tele AS operates Altibox (fiber/broadband/TV) and ice (mobile) brands. Revenue from broadband subscriptions, mobile plans, TV/entertainment services, and IoT solutions. Altibox has 708,913 customers (2020).
- Electricity Grid Services: Lnett AS operates as local grid company for 9 municipalities in Southern Rogaland. Monopoly regulated activity controlled by NVE (Norwegian Water Resources and Energy Directorate). Revenue from grid fees.
- Infrastructure Services: Street lighting (Lyse Lux AS), outdoor lighting projects (Lyse Agon AS), and district heating infrastructure services (Lyse Neo AS).
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Lyse Vekst AS product offering
Product offeringCore offering
Lyse Vekst AS is the venture arm of Lyse AS, investing in early-stage technology and renewable energy companies. As a wholly-owned subsidiary of the municipally-owned Lyse Group, it deploys corporate venture capital into startups operating in clean energy, fiber/telecom, and 5G/IoT technology, leveraging Lyse's regulated infrastructure assets and the 5G testbed at Innoasis to support portfolio company development.
Product overview
Lyse Vekst AS operates as part of the Lyse Group (Lyse-konsernet), a Norwegian energy and telecom conglomerate organized with Lyse AS as the parent company. The consortium consists of multiple subsidiaries organized into four business areas: renewable energy (hydroelectric power via Lyse Kraft DA, Lyse Produksjon AS), telecom (fiber, mobile, broadband via Lyse Tele AS, Altibox, ice brands), infrastructure and circular energy (district heating, gas networks, street lighting via Lyse Neo AS, Lyse Lux AS, Lnett AS), and regional markets (Lyse Marked AS, Bergen Fiber AS, Signal Marked AS). Lyse Vekst AS participates in this diversified portfolio alongside sister subsidiaries including Lyse Marked AS, Lyse Dialog AS, and various other entities serving residential and business customers across southern Rogaland and beyond.
Differentiator
Problem solved
Functional benefit
Brands
- Altibox: Fiber broadband and TV/entertainment services brand operated by Lyse Tele AS
- ice
- Signal Bredbånd
- Bergen Fiber
- Viken Fiber
Products and services
- Early-Stage Technology and Renewable Energy Venture Investments
Companies that use Lyse Vekst AS
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles1 record
Lyse Vekst AS technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Lyse Vekst AS partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor and core.
- Nordic EdgeminorLyse and Nordic Edge have established a 5G/IoT lab at Innoasis in Stavanger. The lab provides a closed 5G network for testing use cases, ideal for startups wanting to test technology.
- InnoasisminorHost location for the 5G/IoT lab co-established with Nordic Edge. Innoasis in Stavanger provides the facility for testing and experimenting with 5G technology.
- Hydro Energi AScoreHydro owns 25.6% of Lyse Kraft DA (with Lyse owning 74.4%). Hydro Energi AS operates the power plants while Lyse Produksjon AS handles production planning and physical dispatching in the market.
- Altibox Partnership NetworkcoreAltibox is a national partnership of fiber companies delivering broadband and entertainment services. Lyse Tele manages the Altibox brand along with ice mobile services. The partnership includes regional fiber companies across Norway.
- Å Energi ASminorÅ Energi AS owns 26.5% of Viken Fiber AS, one of Norway's largest fiber companies with over 250,000 customers.
- Lier Everk Holding ASminorLier Everk Holding AS owns 4.6% of Viken Fiber AS.
- Hadeland Energi ASminorHadeland Energi AS owns 3.9% of Viken Fiber AS.
- Istad ASminorIstad AS co-owns Istad Fiber AS (50% each) with Lyse Fiberinvest AS. Istad Fiber delivers fiber broadband in Molde, Hustadvika, Gjemnes, and Aukra municipalities.
- Bio Jæren ASminorLyse Bio AS develops biogas production through partnership with Bio Jæren AS in the Rogaland region.
- Bioenergi Finnøy ASminorLyse Bio AS develops biogas production through partnership with Bioenergi Finnøy AS in Rogaland.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Lyse Vekst AS competitors and assessment
Company assessmentDirect peers
- BKK: Norwegian utility company operating power production, electricity grid, and fiber broadband in Western Norway. Comparable to Lyse's vertically integrated Norwegian utility model with renewable generation and telecom diversification.
- Å Energi: Norwegian energy company combining hydropower, grid operations, and telecom/fiber investments (notably 26.5% stake in Viken Fiber). Highly comparable to Lyse's diversified energy-plus-telecom model with regional Norwegian focus.
- Agder Energi: Norwegian regional energy company with hydropower generation, electricity grid, and telecom services. Comparable to Lyse as a municipal-owned Norwegian utility with similar business mix and Agder regional exposure.
- Hafslund: Norwegian utility group with hydropower production, electricity grid operations, and district heating. Directly comparable to Lyse's integrated energy model with municipal/government ownership heritage and similar Norwegian regulatory exposure.
- Skagerak Energi: Norwegian regional utility with hydropower production, electricity grid, and energy services. Comparable to Lyse's municipal-owned Norwegian energy operations with similar regulatory and market dynamics.
- Statkraft: Norwegian state-owned renewable energy company and Europe's largest generator of renewable energy. Directly comparable to Lyse as a Norwegian hydropower operator with diversified renewable portfolio and government-affiliated ownership structure.
Regional players
- Akershus Energi: Norwegian regional utility with energy and telecom interests around the Oslo/Akershus region. Comparable to Lyse as a Norwegian municipal-owned energy utility, though operating in a different geographic region.
Broad incumbents
- Telia: Major Nordic telecom operator with mobile and fiber services across Norway, Sweden, and Finland. Comparable to Lyse Tele AS for fiber and mobile competition in the Norwegian market at a regional Nordic scale.
- Equinor: Norwegian state-majority energy company with significant renewable energy ambitions and corporate venture arm (Equinor Ventures). Comparable as a Norwegian energy major with diversification into renewables, though larger and oil-and-gas heritage.
- Telenor: Norway's largest telecom operator with mobile, fiber, and 5G services across the Nordics. Directly comparable to Lyse Tele AS's mobile (ice) and fiber (Altibox) operations, but at much larger national scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Lyse Vekst AS social profiles
Digital presenceLyse Vekst AS financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lyse Vekst AS leadership team
Management profileNumber of profiles
Lyse Vekst AS subsidiaries and ownership
Company hierarchySubsidiaries14 records
Lyse Vekst AS funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lyse Vekst AS M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lyse Vekst AS
What does Lyse Vekst AS do?
Lyse Vekst AS is the venture arm of Lyse AS, investing in early-stage technology and renewable energy companies. As a wholly-owned subsidiary of the municipally-owned Lyse Group, it deploys corporate venture capital into startups operating in clean energy, fiber/telecom, and 5G/IoT technology, leveraging Lyse's regulated infrastructure assets and the 5G testbed at Innoasis to support portfolio company development.
Is Lyse Vekst AS a public or private company?
Lyse Vekst AS is a private company. It is classified as state government owned and is currently operating.
When was Lyse Vekst AS founded?
Lyse Vekst AS was founded in 1999.
Where is Lyse Vekst AS based?
Lyse Vekst AS is headquartered in Stavanger, Norway, in the Europe region.
How does Lyse Vekst AS make money?
Five revenue lines are on record. Renewable Energy Sales are the primary driver. The others are energy Sales (Electricity, Gas, District Heating), telecommunications Services, electricity Grid Services and infrastructure Services.
Who are Lyse Vekst AS's main competitors?
Direct peers on record are BKK, Å Energi, Agder Energi, Hafslund, Skagerak Energi and Statkraft. Akershus Energi is listed as a regional player. Broad incumbents are Telia, Equinor and Telenor.
Does Lyse Vekst AS have an API?
No public API is recorded for Lyse Vekst AS.
What industry is Lyse Vekst AS in?
Lyse Vekst AS's product category is Corporate Venture Capital. Its primary akta.pro industry code is FSANALAF, Roll-Up / Buy-and-Build ETA.