Red Herring today announced ChapDrive AS a winner of the Red Herring 100 Europe award given to the top 100 private technology companies based in the EMEA (Europe, Middle East and Africa) region each year.
Red Herring’s editorial staff rigorously evaluated several hundred private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.
For more information see the full press release from Red Herring
CEO: Jens Anders Jensen,
Phone: +47 92 27 68 81
About ChapDrive AS:
ChapDrive is located in Trondheim, Norway and was founded in December 2006 based on research from The Department of Energy and Process Engineering at the Norwegian University of Science and Technology (NTNU). The company develops a patented hydraulic transmission system for wind turbines. ChapDrive recently completed a successful funding round of NOK 52 million (€6m) to develop a 5 MW hydraulic transmission based on field test results from ChapDrives 225 kW and 900 kW prototype turbines. The main investors are NorthZone Ventures AS, Hafslund Venture AS and Energy Capital Management AS (StatoilHydro´s Venture Fond).
About Red Herring
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com
About the investors:
NorthZone Ventures AS
NorthZone Ventures is a leading European venture firm specializing on technology. NorthZone has about NOK 2,5 billion (€286m) under management, and is located in Oslo, Stockholm and Copenhagen. NorthZone is currently holding more than 35 technology companies mainly originating from the Nordic area, and Northzone has been a lead investor in among others Stepstone, Nextgentel, Mamut, Funcom, Revolt Technology, Norstel and T-VIPS.
Hafslund Venture AS
Hafslund Venture is an active owner in growth companies within renewable energy, energy related technology and concepts related to the value chain in Hafslund. The total venture assets under management are more than NOK 6 billion (€686m), with 16 investments, where the photovoltaic company REC represents the largest value. By investing in external companies and utilizing competence from the Hafslund Corporation, venture represents a flexible and cost efficient way of conducting research and development with focus on profit.
Energy Capital Management AS
Energy Capital Management AS manages StatoilHydro's Venture fond. Energy Capital Management has a total of NOK 1.2 billion (€137m) under management. Energy Capital Management invest in new clean energy solutions and collaborates closely with StatoilHydro utilizing their competence to develop future-oriented technology and market positions for renewable energy production.
NTNU Technology Transfer AS
NTNU Technology Transfer AS (TTO) is the wholly owned commercialization organ of the Norwegian University of Science and Technology (NTNU). TTO assists to secure that research from NTNU and St.Olav Hospital is utilized through license agreements and founding of new companies.