About NorSun
NorSun is an Energy & Utilities company based in Oslo (Norway) founded in 2005. Mono-crystalline silicon wafers are supplied for the solar energy sector. It operates on a Direct-to-Consumer (D2C) model. NorSun has raised $100.34 million across 11 funding rounds from investors including Nordea, DNB and Enova. The company has 228 employees. Its chief executive, as recorded, is Erik Lokke Ower. NorSun offers products and services including Mono-Crystalline Silicon Wafers and Mono-Crystalline Silicon Ingots. Its focus areas include Energy, Renewable Energy and Solar Energy. Its legal entity is NorSun AS.
Company details
NorSun, a Norwegian solar energy company, is focused on the production of high-performance mono-crystalline silicon ingots and wafers for the global solar energy industry. Dedicated to sustainable production, high-efficiency n-type wafers are manufactured with a certified low carbon footprint. Established as a supplier to tier-one cell manufacturers, operations are conducted with an emphasis on clean energy solutions for a sustainable future.
- Annual Revenue$20.95 M (USD)-41as on Dec 31, 2023
- Net Profit-$13.68 M (USD)-153as on Dec 31, 2023
- EBITDA-$17.08 M (USD)-166as on Dec 31, 2023
- Total Equity Funding$100.34M (USD)
in 11 rounds
- Latest Funding Round$8.5M (USD), Series C
Aug 2023
- InvestorsNordea
& 10 more
- Employee Count228
Products & Services of NorSun
NorSun offers a comprehensive portfolio of products and services, including Mono-Crystalline Silicon Wafers and Mono-Crystalline Silicon Ingots.
High efficiency wafers are supplied to solar manufacturers.
Silicon ingots are produced for solar energy applications.
Funding Insights of NorSun
NorSun has successfully raised a total of $100.34M across 11 strategic funding rounds. The most recent funding activity was a Series C round of $8.5 million completed in August 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $100.34M
- Total Rounds 11
- Last Round Series C — $8.5M
- First Round $94M
(Mar 2009)
- Investors Count 11
Latest 10 of 11 funding rounds of NorSun 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 |
|---|---|---|---|---|---|
| Aug 2023 | $8.5M | Series C | – | – | |
| Jun 2021 | $612,469 | Grant | – | – | |
| Jun 2019 | Debt – Conventional | – | – | ||
| Jun 2019 | $18.51M | Series C | – | Nysno | |
| Jun 2019 | Grant | – | – | ||
| May 2017 | $553,950 | Grant | – | – | |
| Oct 2015 | $1.01M | Grant | – | – | |
| Aug 2013 | Debt – Conventional | – | – | – | |
| Aug 2013 | Series C | – | – | – | |
| Mar 2009 | $94M | Debt – Conventional | – | – |
11 investors in total: 11 institutional.
Investors in NorSun
NorSun has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include Nordea, DNB and Enova.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm investing in tech sectors | statkraftventures.com | Dusseldorf, Germany | ||
Offers long-term investments in projects that reduce emissions and promote green shifts. | 2017 | nysnoinvest.no | Stavanger, Norway | |
Develops and implements technologies in renewable energy and advanced materials. | 1987 | scatecinnovation.no | Oslo, Norway | |
ABN AMRO is recognized as a leading Dutch bank offering financial services. | abnamro.nl | Netherlands | ||
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
Online platform for consumer and small business loans | 2003 | enova.com | Chicago, United States | |
Consulting services in agriculture, travel, and international investments are offered. | 2004 | innovasjonnorge.no | Oslo, Norway | |
Commercial banking services are provided to individuals and corporations. | 1822 | dnb.no | Oslo, Norway | |
Nordea is recognized as a leading Nordic universal bank. | 1820 | nordea.com | Stockholm, Sweden | |
Provides comprehensive financial services focused on solar energy solutions. | 2001 | goodenergies.org | Zug, Switzerland |
Investor details for NorSun
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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People of NorSun
1 people are tracked at NorSun (1 in leadership); the tracked headcount is 228.
| Name | Role | Group |
|---|---|---|
Erik Lokke Ower | CEO | Leadership |
Complete people profiles for NorSun
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of NorSun
3 dated milestones of NorSun across 18 years, from founding to its latest funding, stage changes and deals.
- Founded NorSun is founded.
- Funding First funding round of $94.0M.
- Funding Latest funding round, Series C, of $8.5M.
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Frequently Asked Questions about NorSun
NorSun was founded in 2005 and raised its 1st funding round 4 years after it was founded.
NorSun is headquartered in Oslo, Norway. It is registered at Oslo, Oslo, Norway.
Erik Lokke Ower is the CEO of NorSun, as recorded in our data.
NorSun is a funded company, having raised a total of $100.34M across 11 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $94M, raised on Mar 2009.
NorSun has 228 employees.
Annual revenue of NorSun is $20.95M as on Dec 31, 2023.
NorSun, a Norwegian solar energy company, is focused on the production of high-performance mono-crystalline silicon ingots and wafers for the global solar energy industry. Dedicated to sustainable production, high-efficiency n-type wafers are manufactured with a certified low carbon footprint. Established as a supplier to tier-one cell manufacturers, operations are conducted with an emphasis on clean energy solutions for a sustainable future.
NorSun offers Mono-Crystalline Silicon Wafers and Mono-Crystalline Silicon Ingots.
NorSun has 11 investors. Key investors include Nordea, DNB, Enova, Innovasjon Norge, and European Union.
NorSun operates through Norsun As.