Norwegian battery firm completes successful private placement

Nereida Energy AS has raised NOK 32 million in a successful private placement with investors including Grieg, Eviny, Nysnø and Nye Aasen. The new funds will underpin further expansion of the company’s battery technology which targets sectors including offshore service vessels, wellboats, and ferries.

The growth capital will be applied to strengthen the organisation, further develop Nereida’s battery and energy storage solutions, and support targeted strategic initiatives aimed at enhancing the company’s product platform.

Geir Bjørkeli, the company’s CEO, said: “Batteries are increasingly becoming commoditised, so it is the management and control system that truly differentiates solutions and determines how much value you get out of the batteries. In practice, we develop the brain and nervous system of the battery systems and deliver this as a turnkey solution, in line with maritime regulations, to shipowners, shipyards and vessel designers.

“We are very pleased to bring on board such a group of competent, long-term investors. In addition to providing capital, they also offer strategic support and access to strong industrial ecosystems. We are seeing significant market interest, and these funds enable us to capitalise on these opportunities,” he added.