Skagerak Varme

What Skagerak Varme does

Skagerak Varme AS is a Norwegian district heating (fjernvarme) operator and a wholly-owned subsidiary of Skagerak Energi AS, itself owned by three municipalities (Porsgrunn, Skien and Bamble at approximately 33.34% each) together with Statkraft. The company produces and distributes thermal energy for residential, commercial and public-sector buildings across the Telemark and Vestfold regions, operating physical district heating networks in Horten, Tønsberg, Porsgrunn and Skien. Its production mix is 97% renewable, with natural gas retained only as backup or spike-load capacity for special situations.

The core product is delivered through piped district heating infrastructure connecting heating plants directly to customer buildings; cooling is referenced as a potential adjacent service. The business is operated as a regulated utility within the Skagerak Energi family of companies (which also includes Skagerak Kraft, Skagerak Nett, Skagerak Energitjenester, Skagerak Energipartner, Skagerak Energitjenester, Skagerak Utvikling and Skagerak Mobil Energi). GTM is sales-led and infrastructure-bound: physical pipe networks in defined service territories are the primary go-to-market vehicle, supported by the group's corporate website and standard digital channels. Distribution is direct to mid-market residential and commercial customers in the served municipalities.

The revenue model is subscription/recurring, based on consumption of delivered thermal energy, though specific pricing is not publicly disclosed. Skagerak Varme reported EBITDA of 28 million NOK in 2018 (up from 20 million NOK in 2017), marking its first positive operating result before depreciation, with a stated internal goal to reach a positive after-tax result by 2020. The operating model emphasizes volume growth and fuel-cost management to drive profitability, with no disclosed technology product roadmap beyond the renewable production transition.

Name

Skagerak Varme

Legal name

Skagerak Varme AS

Website

https://skagerakenergi.no

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Skagerak Varme AS is a Norwegian district heating subsidiary of Skagerak Energi that produces and distributes 97% renewable thermal energy to residential, commercial and public-sector buildings across the Telemark and Vestfold regions.

Ownership category

akta.pro rank

Product category

District Heating & Cooling Utilities

NAICS

Steam and Air-Conditioning Supply (22133), Steam and Air-Conditioning Supply (221330)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

District Energy Biomass Plants (Heating Networks) (EUAAAGAB)

akta.pro secondary industry

Chillers, Boilers & Central Plant Operations (BPABACAG)

Keywords

• District heating services
• Renewable thermal energy
• District cooling networks
• Waste heat recovery
• Energy distribution utility

Headquarters

HQ city

Porsgrunn

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Marketing or Sales

Revenue model

1. District Heating Sales: Skagerak Varme generates revenue by selling thermal energy (heating and potentially cooling) through district heating infrastructure. The company experienced volume growth and reduced fuel costs driving positive development.
2. District Heating Services: Revenue from sale of heating and cooling solutions to residential, commercial and public sector customers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Skagerak Varme AS produces and distributes district heating (fjernvarme) and district cooling to residential, commercial, and public-sector customers in the Telemark and Vestfold regions of Norway. The heat supply is approximately 97% renewable, drawing on waste-heat recovery and bioenergy, with natural gas-fired plants reserved for backup and peak-load operation. The company owns and operates the underlying pipe network connecting customers in Horten, Tønsberg, Porsgrunn, and Skien.

Product overview

Based on the available source material, Skagerak Varme AS is a subsidiary of the Skagerak Energi group operating in the district heating sector. The parent company's website and consolidated group pages provide the primary context, but detailed product-specific pages for Skagerak Varme were not accessible in the scraped content. Skagerak Varme operates as part of the broader Skagerak Energi portfolio alongside Skagerak Kraft, Skagerak Nett, Skagerak Energipartner, Skagerak Energitjenester, Skagerak Utvikling, and Skagerak Mobil Energi. Skagerak Varme is described in group financial reporting as showing continued positive development with improved operating results in district heating operations across the Telemark and Vestfold regions.

Differentiator

Problem solved

Functional benefit

Products and services

• District Heating (Fjernvarme) Centralized production and piped distribution of hot water for space heating and domestic hot water to residential, commercial, and public-sector customers in Telemark and Vestfold, with approximately 97% renewable supply.
• District Cooling (Fjernkjøling) Piped distribution of cooling to connected commercial and public-sector buildings in the same Telemark and Vestfold service territory, extending Skagerak Varme's revenue base beyond heat supply.
• Waste-Heat Recovery and Bioenergy Heat Production Production of renewable thermal energy from industrial waste-heat recovery and bioenergy sources, forming the backbone of the ~97% renewable heat mix delivered through Skagerak Varme's distribution network.
• Natural Gas Backup and Peak-Load Heating Natural gas-fired boiler capacity used as backup and to meet peak heat demand when renewable production and waste-heat recovery are insufficient, securing year-round supply reliability.

Quantifiable outcome

• Achieved positive operating result after depreciation for the first time in 2018

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Skagerak EnergicoreStrategic or Co-development PartnerSkagerak Varme is a wholly-owned subsidiary of Skagerak Energi AS, part of the Skagerak group. The company operates under the parent's corporate structure, strategy and branding. Skagerak Energi is owned by three municipal companies (33.34% each) and Statkraft.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Agder Energi Varme: Norwegian district heating subsidiary within the Agder Energi group. Direct comparable — operates district heating networks in southern Norway with similar municipal ownership and biomass/renewable fuel mix to Skagerak Varme.
• Halmstad Energi och Miljö: Municipally-owned Swedish district heating and energy utility. Comparable — small-to-mid scale regional district heating operator with renewable sources and a municipal shareholder base analogous to Skagerak Varme's Telemark/Vestfold footprint.
• Stockholm Exergi: District heating (and cooling) provider serving the Stockholm region, owned by Stockholm municipality and Ankhiale. Direct comparable — operates urban district heating networks with renewable and CHP sources, similar utility-style recurring revenue model to Skagerak Varme.
• Kraftringen: Swedish municipally-owned energy company providing district heating and cooling in southern Sweden. Direct comparable — similar municipal ownership structure, regional district heating focus, and renewable/biomass mix as Skagerak Varme.

Regional players

• Mälarenergi: Swedish municipal energy company providing district heating in the Mälardalen region. Comparable — operates urban district heating networks from biomass/waste with similar utility regulation and municipal ownership, though in a different geography.
• Eidsiva Energi: Norwegian regional energy company with district heating operations in the Innlandet region. Comparable — regional Norwegian energy utility with district heating exposure, similar scale profile to Skagerak Varme though serving a different geography.
• Trøndelag Kraft: Norwegian regional energy group with district heating operations in Trondheim area. Comparable — Norwegian municipal/regional energy utility operating district heating networks with renewable sources, similar utility regulation environment.

Broad incumbents

• Fortum: Finnish/Nordic energy major with significant district heating operations across the Nordics and Baltics. Comparable as a multi-country district heating utility player; much larger but operates similar CHP and biomass-fired heating networks.
• Eviny: Large Norwegian energy group (formerly BKK and Skagerak-adjacent) with district heating, power production and grid operations. Comparable as a broader Norwegian incumbent with district heating exposure, though much larger and more diversified than Skagerak Varme.
• Veolia Energie Praha / Dalkia (Veolia Thermal Solutions): Veolia operates urban district heating and cooling networks across multiple European cities via its Dalkia thermal-energy business. Comparable as a major district heating operator with utility-style recurring revenue; far larger and more international than Skagerak Varme.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/channel/UC5BHsnVZWqXpleUWphfBdsA
• Facebookfacebook.com/SkagerakEnergi?ref=hl+
• LinkedInlinkedin.com/company/skagerak-varme-as
• Instagraminstagram.com/skagerak_energi?igshid=YmMyMTA2M2Y%3D

Revenue estimate

Valuation estimate

Number of profiles

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 Skagerak Varme