Fortum partners with Norrsken Evolve to support the next generation of energy innovation in Nordics and Europe

Fortum has invested in Norrsken Evolve as a limited partner through its Innovation & Venturing (I&V) arm, strengthening its connections to founders and companies shaping the future energy system. Norrsken Evolve is a pre-seed venture capital fund supporting early-stage founders tackling Europe's most pressing sustainability challenges. The fund recently completed the final close of its oversubscribed €62 million fund and has backed more than 80 companies across Europe.

Electrification is reshaping industries, energy systems and societies. Meeting growing demand for fossil-free and reliable energy will require not only large-scale investments, but also new technologies, business models and partnerships. Many of these are being developed today by early-stage companies.

By joining Norrsken Evolve, Fortum combines its deep energy-sector expertise with one of the Nordic region's leading early-stage investor platforms.

"For decades, Fortum has been at the heart of the energy industry, and we are committed to driving electrification together with our customers and partners. The future energy system will require faster innovation and closer collaboration between entrepreneurs, investors and industry. Partnering with Norrsken Evolve is an important step in that direction, giving us access to the next generation of companies developing solutions for electrification, flexibility, industrial decarbonisation and other critical energy challenges.", says Gustav Eilertsen, VP, Innovation & Venturing at Fortum.

Alongside capital, Fortum provides portfolio companies access to specialised expertise across power generation, energy markets, electrification, customer solutions, and heating and cooling.

"Europe has the talent and the technology to power its economy on fossil-free electricity, and our founders are building the companies that will make that happen. What Fortum brings is the operational depth that financial investors cannot: real knowledge of how energy is generated, moved and sold. Their backing is strong validation of our thesis, and a genuine asset to every founder we invest in", says Johan Attby, General Partner, Norrsken Evolve.

The investment further strengthens Fortum's position in the Nordic and European innovation ecosystem and supports its ambition to identify emerging technologies, generate strategic insights and create future growth opportunities in the evolving energy system.

 

Additional information:

Fortum Innovation & Venturing, innovation@fortum.com 

Fortum News Desk, +358 40 198 2843, newsdesk@fortum.com

 

About Norrsken Evolve

Norrsken Evolve is an early-stage investment fund backing founders who are building Europe's resilient and sustainable future, with pre-seed capital, a top-tier network, and the industry's leading in-person sprint. It is part of the global Norrsken ecosystem, connecting more than 50,000 founders, funders and supporters dedicated to positive impact.