Nordic Circles

What Nordic Circles does

Nordic Circles AS is a privately held Norwegian company headquartered in Bergen, founded in 2020, that upcycles steel from decommissioned ships and oil rigs into construction-grade building products without melting. The core technology cuts, scrubs, bends, repaints, and recertifies steel plates — preserving their original metallurgical properties — and was co-developed with AF Offshore Decom (gentle decommissioning methods) and Skanska Steel Factory (welded profile and robotic sheet piling production). The product portfolio comprises four lines: HSQ Beams (welded profiles to NS1090-2 with CE marking), Sheet Piling (foundation solutions with near-zero carbon footprint), SuperDock (regenerative urban quay fronts that create subsea marine habitat), and Marine Habitat structures (artificial reefs). The company achieved the world's first CE marking for upcycled maritime metal beams in 2024 and reports 97% CO2 reduction versus conventional steel, at competitive (not premium) pricing.

The business model is project-based B2B hardware sales through direct enterprise sales, channel partnerships, and event-driven demand creation. Primary customer segments are real estate developers and property companies (Rieber Eiendom, Bara Eiendom), government and municipal project owners (Statsbygg, Oslobygg KF, Oslo Kommune), construction contractors, and port authorities. Distribution is executed through a partner value chain — AF Offshore Decom for feedstock, Skanska for fabrication, Green Yard Kleven for production, and general contractors for installation. Major contracts include 60 tonnes of upcycled steel for an 8-floor Bara Eiendom building (2025), the Fenderen commercial building, and the Løren Activityhall pavilion in Oslo. The company is scaling via the 171 million NOK Grønn Platform consortium grant (2024), AF Gruppen's 10% equity stake (2025), and a partnership with Höegh Autoliners to recycle up to eight vessels with 4,000-5,000 tonnes of annual steel availability from 2027.

Name

Nordic Circles

Legal name

Nordic Circles AS

Website

https://nordiccircles.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Nordic Circles AS, based in Bergen, Norway, upcycles decommissioned ships and oil rigs into CE-marked construction steel products (HSQ beams, sheet piling, SuperDock urban quay fronts), achieving 97% CO2 reduction. It serves real estate developers, government entities, and construction firms across Norway.

Ownership category

akta.pro rank

Product category

Upcycled Construction Steel

NAICS

Ship Building and Repairing (336611), Rolling and Drawing of Purchased Steel (33122), Rolled Steel Shape Manufacturing (331221)

SIC

Ship & Boat Building & Repairing (3730), Fabricated Structural Metal Products (3440)

akta.pro primary industry

Marine-Grade Steel Plate, Profiles & Sections (IMAJAKAA)

akta.pro secondary industries

Marine Piling & Deep Foundations (Jetties, Dolphins, Moorings) (IMAFAJAE), Port Rehabilitation, Maintenance & Asset Renewal (Repairs, Strengthening) (IMAFAJAL)

Keywords

• Upcycled construction steel
• Circular construction materials
• Marine steel upcycling
• Low carbon steel products
• Decommissioned ship recycling

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Upcycled Construction Steel Products: Sale of upcycled steel building products including HSQ beams, welded profiles, and sheet piling to construction companies and real estate developers. Products are certified to construction standards (NS1090-2) with CE marking.
2. SuperDock Urban Quay Products: Sale of SuperDock regenerative quay front elements that combine urban waterfront facilities with marine habitat creation. Priced competitively with traditional waterfront solutions.
3. Large-Scale Project Steel Supply: Supply of upcycled construction steel for major building projects. Example: 60 tonnes of upcycled construction steel for 8-floor building project with Bara Eiendom.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Nordic Circles transforms decommissioned ships and oil rigs into construction-grade steel products without melting the metal. Through cutting, scrubbing, bending, repainting, and recertifying, the company produces CE-marked HSQ beams, sheet piling, SuperDock urban quay fronts, and marine habitats that achieve up to 97% CO2 reduction compared to conventional steel.

Product overview

Nordic Circles operates as a single unified offering focused on upcycling steel from ships and oil rigs into construction products with up to 97% reduced CO₂ emissions. The product portfolio includes: (1) SuperDock — a regenerative urban quay front that increases biodiversity while providing waterfront infrastructure; (2) HSQ Beams (Welded Profiles) — CE-marked construction steel beams meeting industry standards NS1090-2, used in buildings and construction projects; (3) Sheet Piling — upcycled foundation solutions for the building industry; and (4) Marine Habitat — underwater structures made from decommissioned vessels that function as artificial reefs. All products share the core upcycling methodology of cutting, scrubbing, bending, repainting, and recertifying steel without melting, enabling near-zero carbon footprint production.

Differentiator

Problem solved

Functional benefit

Brands

• SuperDock: Urban quay front product that creates subsea residences for fish and marine life while providing urban waterfront facilities. Made from upcycled maritime metal.
• HSQ Beams
• Sheet Piling

Products and services

• SuperDock An urban quay front element made from upcycled maritime metal that creates subsea habitat for marine life while providing urban waterfront facilities. A regenerative product that increases biodiversity in city ports and waterfronts, sold to port authorities and urban planners.
• HSQ Beams (Welded Profiles) Welded construction steel beams built to standard NS1090-2 with CE marking. Made from recertified steel plates, produced in Norway with modern fabrication techniques. Box-shaped tailor-made beams with emissions of 0.15 tonnes CO2e per 1 tonne beam, offering 97% reduced emissions compared to conventional steel, used in commercial and public building construction.
• Sheet Piling Upcycled foundation solutions and sheet piling profiles for the building industry with near-zero carbon footprint. NC sheet piles delivered with industry standard interlocking edges, formed from upcycled welded steel plates using robotic production methods, used for foundation work and earth retention systems.
• Marine Habitat

Quantifiable outcome

• 97% reduction in CO2 emissions compared to conventional steel profiles
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

17 partnerships are on record, tiered core, flagship and minor.

• Höegh AutolinerscoreStrategic or Co-development Partner · 5 June 2025Billion-kroner scheme to kick-start new upcycling industry in Norway. Up to eight vessels from Höegh Autoliners set to undergo upcycling with first decommissioned in 2026 at AF Offshore Decom in Vats. Potential emissions savings of 100,000 tons of CO2. Partnership launched at Nor-Shipping with Secretary John Kerry and Andrew Forrest.
• AF Offshore DecomcoreStrategic or Co-development PartnerAF Offshore Decom decommissioned Curlew offshore production ship using new gentle decommissioning methods developed with Nordic Circles. Dismantled ship's sides in way allowing metal to be reused rather than sent for melting. First large-scale decommissioning in Norwegian history. Partner for Höegh Autoliners project at Vats facility.
• Skanska StålfabrikkencoreStrategic or Co-development PartnerSkanska Steel Factory developed new procedures and industrial methods to produce upcycled beams, producing world's first recycled I beams with Nordic Circles. Produced HSQ beams for Løren Activityhall project.
• SkanskacoreStrategic or Co-development PartnerPartnership for construction steel production. Skanska delivered construction steel to Rieber Eiendom project using upcycled steel from AF Offshore Decom.
• StatsbyggflagshipOthersNorwegian government's building and property directorate received world's first HSQ beam from maritime metal with CE marking for exhibition at Oslo Ombrukssentral, Ombygg.
• Oslobygg KFflagshipOthersProject owner for Løren Aktivitetspark - world's first upcycled construction steel in active building project. Pergola structure delivered by Nordic Circles.
• Akvariet i Bergen (National Aquarium)flagshipStrategic or Co-development PartnerFirst SuperDock prototype installed at Bergen Aquarium. Site provided testing conditions for interaction between modules and marine life. Important proof of concept for regenerative urban quay.
• NORCEcoreStrategic or Co-development PartnerResearch partner for SuperDock project. Scientists from NORCE helped design the marine habitat. Effects on marine life monitored and studied by NORCE researchers.
• Radøy GroupcoreStrategic or Co-development PartnerHigh performance steel producer working mostly for oil industry. Piloting steel products with Nordic Circles using their skills and facilities to produce building products with upcycled steel. Important part of strategy to involve Norwegian steel producers in green industry.
• SmartOslominorOthersInnovation financier for Løren Activityhall project. Oslo Kommune innovation program supporting circular building materials development.
• VillminorImplementation/ SI/ Consulting PartnerStrategy and communication partner for projects. Design and project management for SuperDock at Akvariet.
• EquinorminorOthersEnergy company partner in Grønn Platform consortium for establishing circular economy in Norway.
• Green Yard KlevenminorStrategic or Co-development PartnerProduction facility for Nordic Circles' first conventional sheet piling product from Normand Atlantic offshore ship.
• Maritime BergenminorOthersMaritime industry association partner in Grønn Platform consortium.
• LABminorOthersReal estate partner in Grønn Platform consortium.
• EGD PropertyminorOthersReal estate partner in Grønn Platform consortium.
• SivaminorOthersNorwegian innovation agency partner listed on team page.

Scale indicators10 records

Recent moves6 records

Expansion highlights12 records

Direct peers

• Econcrete: Israeli company producing bio-enhancing concrete solutions for marine and coastal infrastructure, including marine habitat modules. Directly comparable to Nordic Circles' SuperDock product line for urban waterfront and biodiversity-positive quay construction.
• Stegra (formerly H2 Green Steel): Swedish hydrogen-based green steel producer targeting the European construction and automotive markets. Stegra competes with Nordic Circles for the same 'low-CO2 steel for construction' procurement budgets, offering a primary-production alternative to upcycling.

Broad incumbents

• Norsk Hydro: Norwegian low-carbon metals producer (primarily aluminum, but expanding into low-carbon steel/value-add). Operates in the same Norwegian industrial ecosystem and competes for the same decarbonization-mandated construction customers as Nordic Circles.
• SSAB: Swedish integrated steel producer leading the HYBRIT fossil-free steel initiative with LKAB and Vattenfall. SSAB competes broadly with Nordic Circles for low-CO2 steel contracts in Nordic construction while operating a much larger conventional steel portfolio.
• Voestalpine: Austrian steel and technology group running 'greentec steel' to phase out coal-based blast furnaces by 2027. Competes with Nordic Circles for low-CO2 steel specification in European construction while serving a much broader industrial customer base.
• ArcelorMittal: World's largest steel producer, with publicly stated decarbonization roadmaps (e.g., Sestao, Gijon green-steel projects). Offers low-CO2 steel alternatives at global scale that compete with Nordic Circles' value proposition in construction procurement.

Emerging players

• Boston Metal: U.S. startup commercializing molten oxide electrolysis for green steel production. Targets the same decarbonized steel market as Nordic Circles with a different technology route, and has raised significant growth-stage capital.
• Electra: U.S. electrochemical green steel startup producing iron from iron ore using renewable electricity. Pursues the same decarbonized-steel-for-construction value proposition as Nordic Circles via an alternative process.
• Hydnum Steel: Spanish green steel startup planning a hydrogen-DRI facility in Puertollano. Targets European low-CO2 steel demand similar to Nordic Circles' market, with a focus on construction and infrastructure-grade steel.
• GravitHy: French hydrogen-DRI green steel startup backed by ENGIE and other industrial investors. Targets European decarbonized steel for automotive, construction, and industrial uses - directly competing with Nordic Circles' low-CO2 steel proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nordic-circles

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

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 Circles