Umoe Gruppen AS

What Umoe Gruppen AS does

Umoe Gruppen AS (legal entity Umoe AS) is a privately held Norwegian industrial investment company headquartered in Lysaker, founded in 1984 by Jens Ulltveit-Moe. The firm acquires, develops and holds ownership stakes in a portfolio of nine operating companies spanning biofuels, clean technology, defense, advanced composites and manufacturing — combining wholly owned and majority-owned operating businesses (Umoe Bioenergy 100%, Umoe Mandal 91%, Umoe Advanced Composites 67%, Umoe Industries 80%) with minority growth investments in cleantech and autonomous-systems companies (Maritime Robotics, Alotta, Differ Energy, Ocean Sun, N2 Applied).

Underlying technologies across the portfolio include Umoe Bioenergy's sugarcane cultivation and bioethanol/electricity production at 3.0 million tons/year capacity in Paranapanema, Brazil; Umoe Advanced Composites' Type IV glass-fibre composite pressure tanks for hydrogen, biogas and CNG storage; Umoe Mandal's Wavecraft air-cushion catamaran vessels (40-45 knots, wave compensation up to 2.5m) and naval composite structures (mast structures for the UK Type 26 frigate program); and Ocean Sun's patented hydro-elastic membrane floating photovoltaic technology licensed per installed watt.

Revenue mechanics combine direct hardware sales (defense structures, pressure vessels, crew transfer vessels, aluminum products, bioethanol/electricity), asset-light technology licensing (Ocean Sun's per-watt license fees, Sunneng Technology agreement in China), and long-term enterprise and government contracts. Customers include BAE Systems, Ørsted, World Marine Offshore, Gen2 Energy, Hypower, Befar Group and GreenBulk. Revenue is not publicly consolidated; the corporate website reports 0.0 b NOK turnover as a placeholder.

Name

Umoe Gruppen AS

Legal name

Umoe AS

Website

https://umoe.com

Company type

Private

Founded year

1984

Operating status

Operating

Short description

Umoe Gruppen AS is a privately held Norwegian industrial investment company founded in 1984 that acquires and develops portfolio companies across biofuels, clean technology, defense composites, and manufacturing, serving enterprise and government customers in energy, maritime, hydrogen, and solar markets.

Ownership category

akta.pro rank

Product category

Industrial Investment Holding Company

NAICS

Chemical Manufacturing (325)

SIC

Industrial Organic Chemicals (2860)

akta.pro primary industry

Biofuel Plant EPC, O&M & Process Technology Providers (EUAAAHAK)

akta.pro secondary industries

Biogas/RNG Plant Development, EPC & Project Delivery (EUAAAEAH), Anaerobic Digestion (AD) Biogas Plants (Agricultural, Industrial & Municipal) (EUAAAEAA), Anaerobic Digestion (AD) & Biogas/RNG Production (Organics Feedstocks) (BPALAEAC)

Keywords

• Industrial investment
• Clean technology
• Composite manufacturing
• Defense solutions
• Renewable energy

Headquarters

HQ city

Lysaker

HQ country

Norway

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment Holding Returns: Umoe operates as an industrial investment company holding wholly owned subsidiaries, majority owned companies, and minority positions. Revenue flows through portfolio company operations in biofuels, advanced composites, defense manufacturing, aluminum products, and renewable energy.
2. Bioenergy Production: Umoe Bioenergy cultivates and harvests sugarcane on approximately 40,000 hectares and produces sustainable bioethanol and electricity with production capacity of 3.0 million tons of sugarcane per year.
3. Composite Pressure Vessel Manufacturing: UAC develops and manufactures advanced lightweight pressure tanks in composite materials. Revenue from sales of hydrogen, biogas and CNG pressure vessels and transportation modules. UAC delivered NOK 150 million revenue in 2021, 50% increase from prior year.
4. Ocean Sun Technology Licensing: Ocean Sun operates a highly scalable and asset-light business model, receiving a technology license fee per installed watt from its floating photovoltaic patents.
5. Defense Manufacturing: Umoe Mandal delivers advanced composite solutions for maritime sector and defense industry, including mast structures for UK Type 26 frigates and crew transfer vessels.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Umoe is an industrial investment company that acquires, develops, and holds ownership stakes in portfolio companies spanning biofuels, clean technology, defense, and manufacturing. Its portfolio operates businesses in sustainable bioethanol production from sugarcane, Type IV composite pressure vessels for hydrogen/biogas/CNG storage, advanced composite maritime and defense structures including crew transfer vessels, aluminum products, autonomous surface vessels, floating photovoltaics, and plasma-based agricultural nitrogen technology.

Product overview

Umoe is an industrial investment company with a portfolio of wholly owned subsidiaries, majority owned companies, and minority positions spanning biofuels, clean technology, defense, and manufacturing sectors. The portfolio includes: UMOE Bioenergy (sustainable bioethanol from sugarcane in Brazil, 100% owned); UMOE Advanced Composites (type IV composite pressure tanks for hydrogen/biogas/CNG, 67% owned); UMOE Mandal (advanced composite solutions and Wavecraft vessels for maritime/defense, 91% owned); UMOE Industries (aluminum products, 80% owned); Maritime Robotics (autonomous navigation systems, 9%); Alotta (floating solar for aquaculture, 25%); Differ Energy (solar power plant development, 23%); Ocean Sun (floating photovoltaics technology, 12%); and N2 Applied (sustainable nitrogen technology for agriculture, 16%).

Differentiator

Problem solved

Functional benefit

Products and services

• Umoe Bioenergy - Sustainable Bioethanol and Electricity

Quantifiable outcome

• UAC achieved 46% compound annual growth rate since 2017, with NOK 150M revenue in 2021 (+50% YoY), expected to exceed NOK 200M in 2022
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• Gen2 EnergycoreStrategic or Co-development Partner · 20 December 2022Gen2 Energy (Norwegian company developing integrated green hydrogen value chain) and UAC signed contract to jointly develop containers for large-scale transport and storage of green hydrogen using type IV glass fibre pressure vessels. Contract includes base order of 50 containers with options for 300+. Gen2 Energy also acquired a minority shareholding in UAC.
• Sunneng TechnologycoreOEM/ Whitelabel/ Licensing Partner · 26 September 2021Sunneng Technology (Beijing-based renewable energy developer) signed technology license agreement with Ocean Sun for construction of 1 MWp FPV pilot in Yantai, China. Project fully funded by String Capital. This is Ocean Sun's first license agreement in the Chinese market.
• Scatec (consortium partner)coreStrategic or Co-development Partner · 7 September 2021Ocean Sun part of Scatec-led consortium awarded NOK 79 million under Norway's Green Platform initiative to develop the world's first large-scale hybrid hydro and floating solar power plant, including a platform for planning and optimization of hybrid power plants. Partners include Prediktor, SINTEF Energi, IFE and Solenergiklyngen.
• Norsk Hydro (AluGreen consortium)coreStrategic or Co-development Partner · 7 September 2021Ocean Sun part of Norsk Hydro-led AluGreen consortium awarded NOK 77 million under Green Platform to explore and pilot high-value circular aluminum products. Ocean Sun focuses on subsea cables for energy distribution with Hydro, Nexans, Metalco, Statnett, SINTEF and NTNU.
• Befar Group (China)coreStrategic or Co-development Partner · 3 May 2021Befar Group, one of China's 500 largest companies, co-invested with Yield Capital in UAC and is a partner in the Chinese JV. Befar Group subsidiary Binhua Hydrogen Energy placed a USD 60 million conditional order for hydrogen pressure tanks. Hypower also placed a parallel order.

Scale indicators12 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Scatec ASA: Norwegian solar power developer with global renewable energy project development — comparable to Umoe portfolio company Differ Energy in ground-mounted solar development and to Ocean Sun consortium partnerships.
• Aker ASA: Norwegian privately-held industrial investment holding company with a portfolio across energy (Aker BP, Aker Solutions), seafood, and emerging technologies — closely mirrors Umoe's model of a family-controlled industrial conglomerate investing across energy transition themes.
• Ciel & Terre International: French floating photovoltaic (FPV) technology company and pioneer of the category — the most direct competitor to Umoe portfolio company Ocean Sun, with overlapping utility-scale FPV deployments globally.
• Hexagon Composites ASA: Norwegian manufacturer of composite pressure tanks for hydrogen, CNG, and biogas storage — the most direct competitor to Umoe Advanced Composites (UAC), with overlapping product lines and enterprise hydrogen customers.
• Odfjell SE: Norwegian family-controlled privately-held industrial investment company with maritime and chemical operations — comparable to Umoe as another long-duration, family-led Norwegian industrial holding with roots in shipping.
• Stolt-Nielsen Limited: Norwegian family-controlled privately-held industrial investment company with shipping, tankers, and aquaculture divisions — directly comparable to Umoe as a long-duration, family-led Norwegian industrial holding company.

Broad incumbents

• Yara International ASA: Norwegian global fertilizer and crop nutrition company — adjacent peer to Umoe portfolio company N2 Applied, which targets on-farm sustainable nitrogen production; Umoe's CEO previously spent 15 years in industrial leadership at Yara.
• Norsk Hydro ASA: Norwegian aluminum and energy company with growing hydrogen and battery ventures — directly comparable to Umoe Industries (aluminum products) and aligned with Ocean Sun's AluGreen consortium partnership with Hydro.
• Kongsberg Gruppen ASA: Norwegian defense and maritime technology conglomerate with significant exposure to naval composites, ship systems, and aerospace — comparable to Umoe Mandal's defense composite structures and the broader Norwegian industrial-defense ecosystem.

Emerging players

• Nel ASA: Norwegian hydrogen equipment and fueling station company that operates in the same hydrogen infrastructure ecosystem as UAC's Type IV pressure tanks, addressing overlapping end-customers in green hydrogen transport and storage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/umoe

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries9 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 Umoe Gruppen AS