About Ace Well Technology
Ace Well Technology is an Energy & Utilities company based in Randaberg (Norway) founded in 2012, and was acquired by Varel Energy Solutions in January 2025. Designer of downhole tools and equipment for drilling. Its chief executive, as recorded, is Espen Sorbo. Ace Well Technology offers products and services including Ace Ratchet Collar and Ace Custom Carrier. Its focus areas include Energy Tech, Oil & Gas Tech, Upstream and Downhole. Its legal entity is Ace Well Technology AS.
Company details
Ace Well Technology, established in 2012 and currently in Acquired stage, focuses on energy tech, oil gas tech, upstream, downhole, well completion, and downhole sealing. Designer of downhole tools and equipment for drilling. Adapting to market demands with innovation and client-focused strategies.
- Headquarters Randaberg, Norway
- Stage Acquired
- SectorsEnergy & Utilities
- Email••••••••
- Website acewelltechnology.com
- Social LinkedIn Facebook
- Acquired by Varel Energy Solutions (Jan 2025)
- Legal Name Ace Well Technology As
- Annual Revenue$2.37 M (USD)-54as on Dec 31, 2021
- Net Profit-$1.72 M (USD)-593as on Dec 31, 2021
- EBITDA-$1.72 M (USD)-484as on Dec 31, 2021
- InvestorsVarel Energy Solutions
& 2 more
- Acquired byVarel Energy Solutions
(Jan 2025)
Products & Services of Ace Well Technology
Ace Well Technology offers a comprehensive portfolio of products and services, including Ace Ratchet Collar and Ace Custom Carrier.
Patented mechanism for attaching tools to casing in wells.
Flexible tool for downhole applications and operations.
Funding Insights of Ace Well Technology
- Total Rounds 1
- Investors Count 2
All 1 funding rounds of Ace Well Technology with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2015 | Seed | – | – |
3 investors in total: 3 institutional.
Investors in Ace Well Technology
Ace Well Technology has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Varel Energy Solutions, Investinor and ProVenture.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| investinor.no | ||||
Early-stage tech and energy investments are made primarily in Norway. | proventure.no | Trondheim, Norway | ||
Downhole products and drill bits are manufactured and supplied. | 1947 | varel.com | Houston, United States |
Investor details for Ace Well Technology
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Ace Well Technology
1 people are tracked at Ace Well Technology (1 in leadership).
| Name | Role | Group |
|---|---|---|
Espen Sorbo | CEO | Leadership |
Complete people profiles for Ace Well Technology
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Ace Well Technology
3 dated milestones of Ace Well Technology across 13 years, from founding to its latest funding, stage changes and deals.
- Founded Ace Well Technology is founded.
- Funding First funding round.
- Exit Acquired by Varel Energy Solutions.
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Ace Well Technology
Complete news archive for Ace Well Technology
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Ace Well Technology
Ace Well Technology was founded in 2012 and raised its 1st funding round 3 years after it was founded.
Ace Well Technology is headquartered in Randaberg, Norway. It is registered at Randaberg, Rogaland, Norway.
Espen Sorbo is the CEO of Ace Well Technology, as recorded in our data.
Annual revenue of Ace Well Technology is $2.37M as on Dec 31, 2021.
Ace Well Technology, established in 2012 and currently in Acquired stage, focuses on energy tech, oil gas tech, upstream, downhole, well completion, and downhole sealing. Designer of downhole tools and equipment for drilling. Adapting to market demands with innovation and client-focused strategies.
Ace Well Technology offers Ace Ratchet Collar and Ace Custom Carrier.
Ace Well Technology has 3 investors. Key investors include Varel Energy Solutions, Investinor, and ProVenture.
Ace Well Technology operates through Ace Well Technology As.
Yes. Ace Well Technology was acquired by Varel Energy Solutions in January 2025.