# ZEG Power AS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zeg-power

- Industry: Renewable Energy
- Headquarters: Norway
- Website: www.zegpower.no
- Total disclosed funding: $30M
- Latest round: Series B (Sep 21, 2022)
- Investors on record: 11

## About

ZEG Power AS is a Norwegian company focused on providing innovative clean hydrogen production solutions, utilizing advanced technology for sustainable energy production.Founded in 2008 in Norway, ZEG Power specializes in clean hydrogen production through its proprietary ZEG ICC™ technology. The company does not have any public subsidiaries or parent entities. The founder's history is not documented. ZEG Power has completed 5 deals and successfully raised NOK 200.000 mn in its latest funding round, Series B, led by Schlumberger New Energy with participation from various investors including AP Ventures and Nordea Investment Management.ZEG Power develops and deploys advanced clean hydrogen production solutions, leveraging its ZEG ICC™ technology to produce low-cost, low-emission hydrogen from gas. They offer various hydrogen plants, including small-scale (1-10 TPD), mid-scale (10-50 TPD), and large-scale (>100 TPD) production units, catering to clients in industries with high energy demands, primarily in Europe and North America. Their flagship facility, the ZEG H1 plant, is located in Kollsnes, Norway and exemplifies their commitment to clean hydrogen production.For the year 2023, ZEG Power generated a revenue of NOK 663,625.50 with an EBITDA of NOK -4,253,029.10, indicating operational challenges despite revenue generation.ZEG Power AS plans to enhance its product offerings by designing new hydrogen production systems aimed at meeting growing market demands. The company is targeting expansion into key markets across Europe and North America by the end of 2025. Recent funding will be directed towards these initiatives, specifically to support new product development and market entry strategies, including a new funding round from IFE Invest AS.

## Funding rounds

- Series B, Sep 21, 2022, $19M — Nordea Investment Management, SPARX Group, Danske Invest Asset Management, AP Ventures, StartupLab, IFE Invest AS, Nysnø Climate Investments, Schlumberger New Energy, Stratel
- Series A, Mar 20, 2020, $11M — Nordea Investment Management, SPARX Group, Danske Invest Asset Management, AP Ventures, IFE Invest AS, Coast Center Base AS, Nysnø Climate Investments, Stratel, CO2 Management AS

## Investors

- Nordea Investment Management — Series A, Series B
- SPARX Group (https://capitalatlas.ai/funds/sparx-group) — Series A, Series B
- Danske Invest Asset Management — Series A, Series B
- AP Ventures (https://capitalatlas.ai/funds/ap-ventures) — Series A, Series B
- IFE Invest AS (https://capitalatlas.ai/funds/ife-invest-as) — Series A, Series B
- Coast Center Base AS — Series A
- Nysnø Climate Investments — Series A, Series B
- Stratel — Series A, Series B
- CO2 Management AS — Series A
- StartupLab (https://capitalatlas.ai/funds/startuplab) — Series B
- Schlumberger New Energy — Series B