Connect with us

Hi, what are you looking for?


Clean Power

Statoil Launches New $200 Million Energy Investment Fund

Norway’s biggest oil and gas producer, Statoil, has launched a new $200 million venture capital fund dedicated to investing in renewable energy.

statoilThe company announced the new fund on its website this week, revealing that the fund is “dedicated to investing in attractive and ambitious growth companies in renewable energy,” such as offshore and onshore wind, solar energy, energy storage, transportation, energy efficiency, and smart grids, in an attempt to support the company’s strategy of “growth in new energy solutions.”

“We are pleased to announce Statoil Energy Ventures: One of the world’s largest corporate venture funds dedicated to renewable energy,” said Irene Rummelhoff, Statoil’s executive vice president for New Energy Solutions. “The transition to a low carbon society creates business opportunities, and Statoil aims to drive profitable growth within this space. Through the new fund, we look forward to investing in attractive and ambitious companies and contribute to shaping the future of energy.”

The new fund will invest up to $200 million, or around NOK 1.7 billion, over a period of 4–7 years, and is part of the company’s new business area, New Energy Solutions, “reflecting the company’s aspirations to gradually complement its oil and gas portfolio with profitable renewable energy and low-carbon solutions.”

“Statoil Energy Ventures aims to be an attractive partner for growth companies,” added Gareth Burns, vice president in Statoil and managing director of Statoil Energy Ventures. “We offer a strong financial muscle and are ready to invest in three strategic areas: Supporting our current operations in renewables, positioning in renewable growth opportunities, and exploring new high impact technologies and business models. We look forward to engaging with ambitious entrepreneurs as an active investor and to build great companies.”

The last time we heard from Statoil was when Scotland approved the construction of the world’s largest floating wind farm, which is being developed by Statoil. The 30 MW project is being developed at Buchan Deep, and upon completion in 2017, will generate the equivalent electricity necessary to power around 20,000 households.

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (, and can be found writing articles for a variety of other sites. Check me out at for more.


You May Also Like


Norway, the world’s leading market in the electric vehicle transition, saw plugins take 91.2% share in November, up from 79.9% a year ago. Non-hybridized...


Transportation emissions in Norway were down 4% last year, thanks in large part to more electric cars on the road.


Norway, the world’s leading country in electric vehicle adoption, saw plugin EV market share in October at an impressive 89.3%, up from 79.1% a...

Air Quality

Electric aviation is barely beginning to ramp up. We're at the flattest point of the sigmoid curve of adoption, but the steep section of...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.