Arctic Business Journal

13/07/2023

Our latest is out now and features the following:

Thawing permafrost is taking a toll on Nunavik’s buildings and infrastructure and the way people use the land to hunt, fish and travel. Laval University is continuing its work to study this phenomenon and examine ways the region can adapt to the effects of climate change, thanks to $600,000 from the Quebec government.

The latest announcements:

- 🇸🇪 Next phase launched at Boden Industrial Park (H2 Green Steel)

- 🇳🇴 🇸🇦 Aker Carbon Capture and aramco to explore partnership opportunities to deploy carbon capture, utilization and storage (CCUS) modular solutions in Saudi Arabia

- 🇸🇪 Eolus Vind AB applies for permit for Västvind offshore wind power project

- 🇳🇴 Nearby AS Launches Innovative App, Connecting with New Friends and Strengthening Bonds

- 🇳🇴 🇩🇪 Hydro REIN will not participate in offshore wind competition in the North Sea (Norsk Hydro)

- 🇳🇴 Telenor Amp Partners with Shapemaker to Enhance Industry Innovation, Efficiency, and Sustainability

Read more at https://mailchi.mp/arcticnow/at-and-abj-newsletter-07-13-sweden-and-nato-norway-saudi-arabia-carbon-capture-nunavut-visit

Also includes the latest Arctic Today news and analysis!

11/07/2023

ANNOUNCEMENT OF THE DAY:

Telenor Amp invests in Shapemaker, an Oslo-based startup revolutionising telecom design through automation and advanced technologies, dramatically reducing the time required for structural calculations from weeks to minutes.

Telenor Amp's investment portfolio currently includes 16 companies, with a combined value ranging from 10 to 15 billion Norwegian kroner (USD 960 million to 1.4 billion).

This strategic partnership drives innovation and highlights the region's pioneering efforts to propel the industry into a new era of efficiency and sustainability.

Today's announcement comes from Telenor Norge - read more at https://www.arctictoday.com/arctic_business/telenor-amp-partners-with-shapemaker-to-enhance-industry-innovation-efficiency-and-sustainability/

Telenor Amp invests in Shapemaker, an Oslo-based startup revolutionising telecom design through automation and advanced technologies. This strategic partnership drives innovation and may propel the industry into a new era of efficiency and sustainability.

10/07/2023

Our latest is out now and features the following:

The third article in a new series, Tromsø Uncovered, profiles Abdera.ai's efforts to combat online hate speech and trolling using algorithms and models to solve the problem in a simple and cost-effective way (sponsored content by ProTromsø AS and Næringsforeningen i Tromsøregionen).

Finland tightens entry rules for Russian business travelers and property owners; from July 10, Russians traveling with business visas to Schengen-Europe will no longer be allowed to transit through Finland.

The latest announcements:

- 🇩🇰 Copenhagen Infrastructure Partners reaches first close on CI V at nearly EUR 6 billion, putting it on track to reach its target fund size of EUR 12 billion and become the world’s largest dedicated greenfield renewable energy fund.

- 🇩🇰 🇮🇸 Coloplast announces agreement to acquire Kerecis for up to USD 1.3 billion.

- 🇯🇵 🇩🇰 Mitsui & Co., Ltd. / 三井物産株式会社 will acquire a stake in Northern Europe’s largest solar plant and the world’s largest e-methanol facility (European Energy A/S)

- 🇸🇪 🇩🇰 🇰🇷 Bladt Industries A/S to be acquired by CS Wind Corp, a global renowned leader in wind turbine tower manufacturing

- 🇳🇴 🇬🇧 Blastr Green Steel signs a Letter of Intent with REDCAR BULK TERMINAL to explore the development of a pellet plant in Teesside, UK

- 🇨🇦 🇫🇮 Avalon Advanced Materials Inc. Signs MOU with Metso, a World Leader in Critical Minerals Technology, to Advance the Development of Ontario's First Lithium Processing Facility

Read more at https://mailchi.mp/arcticnow/at-and-abj-newsletter-07-10-orkney-and-norway-ai-and-online-hate-speech-finland-russia-tension

Also includes the latest Arctic Today news and analysis!

06/07/2023

Our latest is out now!

Features the latest announcements:

- 🇸🇪 Treebula secures SEK 28 million investment to realize the true value of forest and a greener future (Industrifonden)

- 🇩🇰 Ørsted and ESVAGT sign second contract for methanol-powered vessel

- 🇸🇪 350 million-project makes European industry more efficient (Luleå tekniska universitet)

- 🇳🇴 🇩🇪 KSAT - Kongsberg Satellite Services has selected CPI VERTEX ANTENNENTECHNIK GmbH to provide the 20m antennas that will support missions to the Moon

- 🇳🇴 Norwegian Air announces agreement to acquire Widerøe

- 🇳🇴 Aker Horizons signs long-term power purchase agreement with Statkraft for Narvik green ammonia project

Read more at https://mailchi.mp/arcticnow/at-and-abj-newsletter-07-06-alaska-in-the-spotlight-energy-innovation-conservation-and-whales

Also includes the latest Arctic Today news and analysis!

06/07/2023

ANNOUNCEMENT OF THE DAY:

The Luleå tekniska universitet is leading a $32 million digitalization project involving 43 partners in 12 countries that will revolutionize industrial efficiency in Europe.

"We have already made technology tests in a high number of sectors, and all of them show 30–95 percent cost and time savings."

The vision is to double productivity within the car and aviation industry of today, the green transition, and the processing industry in Europe.

Today's announcement comes from Luleå University of Technology - learn more at https://www.arctictoday.com/arctic_business/350-million-project-makes-european-industry-more-efficient/

A new digitalisation project involving 43 partners in 12 countries will revolutionise the industrial efficiency in Europe by automated communication in the entire production network. The project, led by Luleå University of Technology and with a budget of SEK 350 million, builds upon over 20 years o...

05/07/2023

ANNOUNCEMENT OF THE DAY:

🌊 Deep Wind Offshore and EDF Renewables are cooperating with Norwegian supplier Moreld Ocean Wind for the floating solution at the offshore wind development on Utsira Nord in Norway.

⚡️ The companies have chosen a unique floater design, The Ocergy, that Moreld offers as it promises to enhance the project's efficiency, cost, sustainability, and reliability.

🌍 The aim is to become one of the largest floating offshore wind farms globally, generating clean and renewable energy.

💡 This collaboration represents a significant milestone in the development of renewable energy in the region, supporting the transition to green energy.

Today's announcement comes from Deep Wind Offshore - read more at https://www.arctictoday.com/arctic_business/deep-wind-offshore-and-edf-renewables-announce-preferred-floater-solution-for-utsira-nord/

EDF Renewables and Deep Wind Offshore are cooperating with Norwegian supplier Moreld Ocean Wind for the floating solution at the offshore wind development on Utsira Nord.

03/07/2023

Our latest is out now!

The second article in a new series, Tromsø Uncovered, profiles KSAT - Kongsberg Satellite Services's role in satellite-based earth observation and features CEO Rolf Skatteboe as he discusses their involvement in a project to stop deforestation in the Amazon (sponsored content by ProTromsø and Næringsforeningen i Tromsøregionen) and Finland's industry-led hydrogen economy strategy is published, as well as the latest announcements:
- 🇫🇮 🇩🇰 Cinia and NORDUnet collaboration on Arctic Connectivity
- 🇮🇸 Carbfix and Orka náttúrunnar reaching world's first near-zero carbon footprint geothermal power plant
- 🇮🇸 Icelandic land-based salmon farmer, Landeldi, completes large funding round of $90 million, and changes name to First Water
- 🇳🇴 Telenor Norge and Statkraft sign agreement for the supply of renewable energy for Telenor’s Finnish subsidiary DNA finland
- 🇫🇮 Ilmatar’s hybrid farm enters commercial production – 36 wind turbines set for year end completion
🇳🇴 🇺🇸 Arctic set for high-speed broadband as polar mission completes key milestone (Viasat Inc. and Space Norway)

Read more at https://lnkd.in/eUajBPfT

Also includes the latest Arctic Today news and analysis!

30/06/2023

ANNOUNCEMENT OF THE DAY:

"Arctic connectivity is urgent because it supports scientific research, enables new trade routes, and underpins strategic government action in a new geopolitical landscape"

Viasat Inc., a global leader in satellite communications, and Space Norway announced that the first of the two satellites for the Arctic Satellite Broadband Mission, has successfully completed thermal vacuum testing.

The mission is expected to provide high-speed broadband services to air, land, and sea users in the Arctic region and in Northern latitudes.

Today's announcement comes from Viasat Inc. - read more at https://lnkd.in/ejEhpgS6

Viasat, a global leader in satellite communications, and Space Norway, announced that the first of the two satellites for the Arctic Satellite Broadband Mission, has successfully completed thermal vacuum testing. The mission is expected to provide high-speed broadband services to air, land and sea u...

30/06/2023

Three ways digitalization can drive Finland's sustainable growth and development:

1. Learn from digital native companies.

2. Building the data economy through cooperation.

3. Responding to global disruption opens the way to the world.

Learn more in this article from Business Finland at https://lnkd.in/eNnUnuuH

Global challenges and dwindling global resources are turning our attention to digital opportunities. New solutions are needed now and in the future, in every industry. Technological advances and an increasingly digitalized living environment are driving business opportunities and are the lifeblood o...

29/06/2023

Our latest is out now!

The first article in a new series, Tromsø Uncovered, highlighting innovation in northern Norway (sponsored content by ProTromsø AS and Næringsforeningen i Tromsøregionen) and news of new million dollar investment in the Port of Tromsø, as well as the latest announcements:

- 🇩🇰🇨🇭Metafuels, European Energy A/S sign MoU to develop a methanol-to-jet sustainable aviation fuel project.

- 🇸🇪 🇫🇮 AFRY Sverige to be engineering partner in Fortum’s hydrogen study in Raahe, Finland.

- 🇳🇴 🇰🇷 KSATlite network expansion, adding new ground station in South Korea (KSAT - Kongsberg Satellite Services)

- 🇸🇪 Scania Group places first green steel order in further step towards decarbonized supply chain (H2 Green Steel)

- 🇫🇮 🇬🇧 Ilmatar builds its second hybrid solution: An energy storage facility at the Piiparinmäki wind farm.

Read more at https://mailchi.mp/arcticnow/at-and-abj-newsletter-06-29-wagner-group-and-the-arctic-danish-saf-troms-spotlight

Also includes the latest Arctic Today news and analysis!

28/06/2023

ANNOUNCEMENT OF THE DAY:

The North once again exhibits a pioneering fusion of technology and energy!

🇫🇮 Caverion Norge will implement one of the world's largest smart CO2 refrigeration systems for a new energy centre being built by Oulun Energia.

After completion, the energy centre will produce clean cooling energy for Nokia's new campus in Oulu and heating energy for the district heating network of Oulun Energia.

The system is based on cooling and heating production in the same process, where intelligent controls ensure minimum waste of energy.

Today's announcement comes from Caverion - read more at https://www.arctictoday.com/arctic_business/caverion-delivers-one-of-the-worlds-largest-co2-refrigeration-systems-to-oulun-energia-in-finland/

Caverion will implement a smart refrigeration system, including cooling and heat production, for a new energy centre being built by Oulun Energia. After completion, the energy centre will produce clean cooling energy for Nokia's new campus in Oulu and heating energy for the district heating network....

27/06/2023

ANNOUNCEMENT OF THE DAY:

Equinor and the Ammonia Fuel Bunkering Network (AFBN) have joined forces to explore the potential of clean ammonia as a fuel to decarbonize the Norwegian offshore sector.

The AFBN is a consortium led by AZANE Fuel Solutions that also includes partners like Yara Clean Ammonia, Sintef, and Fjord Base Gruppen (Norway's largest offshore supply base.

Clean ammonia holds great potential as a fuel to decarbonize the maritime industry, as it can be burned in an engine or a fuel cell but does not contain carbon.

Equinor's involvement as an associated partner is expected to expedite the green transition and showcase the utilization of clean ammonia in the offshore sector.

Today's announcement comes from Ocean Hyway Cluster - read more at https://www.arctictoday.com/arctic_business/equinor-becomes-associated-partner-to-ammonia-fuel-bunkering-network/

Equinor and Ammonia Fuel Bunkering Network (AFBN) join forces to find the optimal ammonia value chain. Together they will study how clean ammonia can be introduced as a fuel to decarbonize the Norwegian offshore sector.

26/06/2023

Our latest is out now!

An environmental analysis of Canada's Critical Minerals Strategy by Ed Struzik (Yale Environment 360), and a new report indicating the attractiveness of northern Sweden for young adults (Luleå tekniska universitet), as well as the latest announcements:
- 🇳🇴 🇮🇱 Electreon wins the first electric road tender in Norway for charging a bus wirelessly through inductive technology.
- 🇳🇴 🇸🇪 Aker Carbon Capture awarded study by Söderenergi to implement carbon capture at Igelstaverket, Sweden’s second largest biomass combined heat and power plant (CHP).
- 🇺🇸 Nuvve introduces Astrea AI forecasting for Nordic energy market.
- 🇫🇮 Coinmotion adds two new strategic board members to strengthen its position in the digital currency market,
- 🇸🇪 Axfood and Alight sign power purchase agreement (PPA) to build Sweden’s largest solar park by threefold, marking a new era for solar.
- 🇩🇰 Ørsted invents and patents uncrewed surface measuring vessel.

Read more at https://lnkd.in/gX3tWX_B

Also includes the latest Arctic Today news and analysis!

23/06/2023

Ørsted, the world's leading developer of offshore wind farms, has designed and developed the first uncrewed surface vessel (USV) in the industry for offshore met-ocean measurement campaigns.

This invention has the potential to increase efficiency, reduce carbon emissions, and improve safety in offshore operations.

The prototype USV is constructed by the Danish shipbuilder Tuco Marine Group ApS, and the USV control system is delivered by the innovative Norwegian company Maritime Robotics AS. This showcases the collaborative efforts within the North to innovate and lead the way.

Today's announcement comes from Ørsted - read more at https://www.arctictoday.com/arctic_business/orsted-invents-and-patents-uncrewed-surface-measuring-vessel/

22/06/2023

Our latest is out now!

News of plans to build a new fish factory in Tasiilaq, Greenland (Royal Greenland), and Canadian investment into Northvolt (Investment Management Corporation of Ontario), as well as the latest announcements:

- 🇳🇴 🇺🇸 Amogy signs first pre-order for its Zero Emission Powerpack with an undisclosed Norwegian shipowner to supply four 200 kW ammonia-to-power systems.

- 🇩🇰 🇿🇦 Sasol Goudkop and Topsoe A/S to form a future business to accelerate global Sustainable Aviation Fuel (SAF) production.

- 🇮🇸 Carbon Recycling International completes 30M. USD financing round with new investors including Equinor Ventures, Sjóvá and Lífeyrissjóður Vestmannaeyja.

- 🇸🇪 🇫🇮 Ruukki Dachy, part of the SSAB Group, to deliver first-ever building products made of fossil-free steel.

- 🇨🇦 New Season of “Venture Out” Podcast from EntrepreNorth Spotlights Ten Indigenous Entrepreneurs from Across the North

- 🇫🇮 Origin by Ocean, a Finnish start-up committed to revolutionising the chemical industry, has secured an impressive seed funding of €7.5 million (Voima Ventures).

Read more at https://mailchi.mp/arcticnow/at-and-abj-newsletter-06-22-sustainable-transport-alaskan-fishing-swedens-future

Also includes the latest Arctic Today news and analysis!

21/06/2023

ANNOUNCEMENT OF THE DAY:

Another example of the North spearheading the transformation of the aviation industry!

Eve Air Mobility announced the extension of its partnership with Widerøe Zero, an innovative initiative by Widerøe focused on sustainable aviation with the mission to revolutionize the industry and create a greener future for air travel.

The agreement involves the provision of up to 50 eVTOLs, an electric vertical take-off and landing aircraft that uses electric power to hover, take off, and land vertically.

The companies will also collaborate on the Air Mobility Labs project across Norway, which will drive the development of future air mobility concepts tailored to regional needs.

Today's announcement comes from Eve Air Mobility - read more at https://www.arctictoday.com/arctic_business/eve-and-wideroe-zero-extend-partnership-aiming-to-launch-evtol-operations-in-scandinavia-with-up-to-50-aircraft/

Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW) today announced the extension of its partnership with Widerøe Zero, an innovative initiative by Widerøe focused on sustainable aviation with the mission to revolutionize the industry and create a greener future for air travel.

20/06/2023

ANNOUNCEMENT OF THE DAY:

Will Finland become the next (or first) industrial hydrogen powerhouse?

Neste, Gasgrid Finland Oy, Helen, and Vantaa Energia Oy have initiated preliminary studies for the development of an industrial hydrogen valley in the Uusimaa region, Finland.

This collaborative effort aims to position Finland as a leading hydrogen economy in Europe, supporting carbon neutrality goals and creating investment opportunities. It also highlights the importance of collaboration in the hydrogen economy's growth.

The industrial hydrogen valley will focus on infrastructure, storage, and transmission of renewable hydrogen, with potential for sector integration and utilization of renewable heat in district heating.

Today's announcement comes from Neste - read more at https://www.arctictoday.com/arctic_business/neste-and-the-other-leading-energy-companies-in-finland-join-forces-to-develop-an-industrial-hydrogen-valley/

Neste Corporation, Gasgrid Finland Ltd, Helen Ltd, and Vantaa Energy Ltd have in collaboration started preliminary studies on the development of an industrial hydrogen valley in the Uusimaa region, Finland.

19/06/2023

Our latest is out now!

A company profile on Statkraft by Ocean Hyway Cluster, news of a gender quota at board level for large and mid-size private firms in Norway, as well as the latest announcements:
- A $10m Series A2 funding round for Icelandic firm DTE. Investors include Novelis, venture capital firm Metaplanet, and the European Innovation Council (EIC) Fund, along with existing investors Chrysalix Venture Capital and Brunnur Ventures.
- Coca-Cola HBC acquires Finlandia vodka from Brown-Forman Brands Finland Oy for $220 million.
- Nordic Capital's acquires a majority share in Foxway Group, a leading provider of circular IT services.
- Nova Scotia company, Sustainable Blue, claims its land-based fish farm makes zero waste due to its zero Recirculating Aquaculture System (zRAS).
- Nunavut Arctic College and Galaxy Broadband Communications announce innovative partnership through Inuknet.
- Fireweed Metals Corp announces its Mactung Project in Yukon and the Northwest Territories contains the largest high-grade tungsten deposit in the world.

Read more at https://lnkd.in/gV6g7XzY

Also includes the latest Arctic Today news and analysis!

16/06/2023

Our latest company profile provides an overview of Statkraft, a leading renewable energy company operating in the Nordic and Arctic regions.

In a recent interview with Statkraft's Business Development Manager, Kevin Gould, he discussed the company's primary focus on building hydrogen capacity, the biggest challenges it faces, and its belief in sustainability and collaboration as part of the Ocean Hyway Cluster.

Read more at https://www.arctictoday.com/arctic_business/company-profile-statkraft/

In a recent interview with Statkraft's Business Development Manager, Kevin Gould, he discussed the company's primary focus on building hydrogen capacity, the biggest challenges it faces, and its belief in sustainability and collaboration as part of the Ocean Hyway Cluster.

16/06/2023

ANNOUNCEMENT OF THE DAY:

More exciting news in the carbon capture industry from the North!

Aker Carbon Capture and Ørsted have signed a EUR 200 million contract for the delivery of five Just Catch units and associated equipment.

The Just Catch technology developed by Aker Carbon Capture will play a crucial role in capturing CO2 emissions and mitigating climate change at Ørsted’s wood chip-fired Asnæs Power Station and the Avedøre Power Station’s straw-fired boiler.

Combined, these facilities will have an installed design capture capacity of 500,000 tonnes CO2 per year.

Today's announcement comes from Aker Carbon Capture - read more at https://www.arctictoday.com/arctic_business/aker-carbon-capture-and-orsted-sign-contract-for-delivery-of-five-just-catch-units-and-equipment-of-over-eur-200-million/

Aker Carbon Capture and Ørsted, a global leader in renewable energy, have signed the contract to develop a large-scale carbon capture project for the Ørsted Kalundborg Hub in Denmark.

15/06/2023

Our latest is out now!

Our first with Iceland Ocean Cluster founder Dr. Thor Sigfusson, news of U.S. Department of Agriculture funding for rural Alaskan broadband projects, as well as announcements relating to the largest green hydrogen production facility in the Nordic region (Norwegian Hydrogen), and a €90 million VC fund for early stage deep-tech companies (Voima Ventures).

Read more and subscribe at https://mailchi.mp/arcticnow/at-and-abj-newsletter-06-12-arctic-profile-series-nordic-hydrogen-icc-canada-and-russia

Also includes the latest Arctic Today news and analysis!

14/06/2023

ANNOUNCEMENT OF THE DAY:

Voima Ventures, the Nordic early-stage investor, has announced the first closing of its new €90 million fund.

This fund aims to support science-based deep-tech companies in the Nordic and Baltic regions with globally scalable solutions.

Voima Ventures' previous investments include Solar Foods, and AI-based cancer treatment provider Mvision AI.

Investors of this latest fund include among others European Investment Fund (EIF), Finnish Tesi and its fund of funds KRR, VTT Technical Research Centre of Finland, Saminvest AB from Sweden, and pension funds Nordea Life and Elo.

Today's announcement comes from Voima Ventures - read more at https://www.arctictoday.com/arctic_business/voima-ventures-90-million/

Nordic early-stage investor Voima Ventures, focusing on science-based companies, announces today its first closing with a new €90 million fund. With the new fund, Voima Ventures’ mission is to support Nordic and Baltic early-stage deep tech companies with globally scalable solutions, with the in...

14/06/2023

Over $100 million in USDA funding has been allocated for rural broadband projects in Alaska!

This investment aims to improve connectivity and bridge the digital divide in remote areas, unlocking new opportunities for education, healthcare, and economic growth.

Funding for Alaskan projects includes:

- $35 million grant for INTERIOR TELEPHONE COMPANY.

- $35 million grant for Mukluk Telephone Company, Inc.

- $17.9 million grant for COPPER VALLEY TELEPHONE COOPERATIVE.

- $12.6 million grant for MTA Solutions (Matanuska Telecom Association Inc.)

Read more at https://www.arctictoday.com/arctic_business/more-than-100-million-of-usda-funding-to-go-to-alaska-rural-broadband-projects/

By Jennifer Shutt, Alaska Beacon The Biden administration on Monday announced it will send $714 million to help rural areas in 19 states connect to the internet. “The president honestly believes that in order to have the fullest opportunity available to bring manufacturing back, to bring precision...

13/06/2023

Our first is out now!

Meet Dr. Thor Sigfusson PhD, the founder of Iceland Ocean Cluster.

Through the Iceland Ocean Cluster, he has created a dynamic ecosystem where companies, research institutions, and entrepreneurs come together to explore new opportunities and develop sustainable solutions in the marine and maritime sectors in Iceland and beyond.

Learn more about this influential figure at https://www.arctictoday.com/arctic_business/arctic-profiles-dr-thor-sigfusson-iceland-ocean-cluster/

By Elías Thorsson Dr. Thor Sigfússon is an Icelandic entrepreneur and writer who for the past 13 years has been overseeing the startup and innovation hub, The Iceland Ocean Cluster (Sjávarklasinn in Icelandic). Following an illustrious career in the business community, he set out to fish for inno...

12/06/2023

Our latest is out now!

A recap of the Yukon Investor Summit (Yukonstruct), a reminder of the hugely important Arctic Innovation Equation (Arctic Economic Council), as well as announcements relating to digital connectivity in Alaska (OneWeb and Connecting Alaska Consortium) and a tourism corridor project in Yukon and NWT (Destination Canada).

Read more and subscribe at https://mailchi.mp/arcticnow/at-and-abj-newsletter-06-12-alaska-connectivity-yukon-tourism-arctic-innovation-equation

Also includes the latest Arctic Today news and analysis!

12/06/2023

ANNOUNCEMENT OF THE DAY:

atNorth, a leading data center provider, has recently opened its sixth facility in the Nordics as part of its ongoing expansion.

The new data center, located in Iceland, will offer state-of-the-art infrastructure and services to meet the growing demand for reliable and sustainable data storage solutions.

This expansion not only strengthens AtNorth's position as a key player in the data center market but also highlights the North as a prime destination for data-driven enterprises due to, primarily, the abundance of renewable energy sources.

Today's announcement comes from atNorth - read more at https://lnkd.in/g6PBUJDt

Submit Press Releases to [email protected] to feature as an in the future.

atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider, has formally announced that their third Iceland data center, ICE03, is now fully operational with an initial capacity of 10 MW, following a swift 11-month build.