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Viking Venture invests in 4Subsea

Viking Venture invests in 4Subsea

Viking Venture has acquired 40% of the shares in 4Subsea AS, which is headquartered in Asker, Norway. 4Subsea specializes in providing monitoring solutions, software and expert services for flexible risers as well as well intervention and wellhead systems. With revenue of NOK 106 million in 2013, the company is a leader in its niches on the Norwegian continental shelf. This is the second investment in Viking Venture’s new investment concept. Viking Venture is investing in 4Subsea to assist the company with further development of integrated solutions and international expansion. With vigorous growth in the markets that 4Subsea serves as an independent specialist company in flexible risers and well intervention systems, demand for the company’s services is growing steadily. 4Subsea was established in 2007 with Statoil, Shell and BP as important customers. From the start, the company has focused on technology and knowledge sharing – in-house, with customers and with competitors. “We find that sharing our experience and our solutions openly with our customers creates the foundation for mutual trust. This enables 4Subsea to work in close partnership with our customers, making it possible to develop effective solutions even for highly complex problems,” says Managing Director Henning Christensen, who is also one of the company’s founders. “Good teamwork with the customer is vital when we deliver integrated services that solve the challenges they face.” Today, the list of customers also includes ExxonMobil, Maersk, Wintershall and several leading subsea and FPSO companies. “We have invited Viking Venture to become an investor in our company because we feel that they have experience, networks and expertise in strategy development and international expansion that...
GasSecure reaches agreement with Yokogawa

GasSecure reaches agreement with Yokogawa

GasSecure AS announces the signing of an agreement with Yokogawa Electric Corporation on the distribution of GasSecure’s ISA100 Wireless based gas detectors through Yokogawa’s global sales network. With this agreement, Yokogawa gains access to GasSecure’s wireless gas detectors and thereby strengthens its lineup of plant field wireless solutions and enhances its support of health, safety, security, and environment (HSSE) management applications. This agreement will also allow GasSecure to gain access to Yokogawa’s global sales and service network and thereby boost the sales of its wireless gas detectors. Read press release on gassecure.com » About GasSecure GasSecure’s wireless gas detectors detect leaks of hydrocarbon gas that can cause explosions. Utilising ultra-low power infrared sensors, they perform measurements and send that information wirelessly to the host monitoring system. Founded in 2008, and financially backed by Viking Venture, Investinor, ProVenture and SINTEF, GasSecure is ISO 9001 certified and has developed the world’s first truly wireless optical gas detector suitable for demanding industrial applications. GasSecure is led by company founder and chief executive officer Knut Sandven and supported by a team of experts in low-power gas detection and safe wireless communication. GasSecure is a recognised leader in wireless gas detection with pioneering research that has received several awards including the 2011 Frost & Sullivan Technology Innovation Award in the European Gas Detection Industry. GasSecure GS01 wireless hydrocarbon infrared gas detector installations range from arctic to tropical conditions and cover the most demanding offshore platforms, terminals, tanks farms, drill sites and petrochemical plants where clients wish to benefit from cost reductions and ease of installation. Read more on gassecure.com...