Equinor

Equinor is a Norway-based integrated energy company involved in the exploration, development, and production of oil and gas, with active operations in wind and solar power and a broad global footprint that includes refining, processing, and trading. The company pursues the energy transition through its corporate venture activities, supporting startups and growth-stage companies that develop technologies across energy, information technology, climate tech, and infrastructure. Through Equinor Ventures and Equinor Energy Ventures, it seeks to invest in and partner with innovative firms to accelerate renewable energy deployment, efficiency, and storage, typically taking minority positions and pursuing co-investments to complement its core oil and gas businesses.

Samuel Byrne

Vice President Operations, Renewables Americas

Sophie Hildebrand

SVP Research and Technology and CTO

Kjersti Reinsnos

Managing Director

Past deals in Energy Storage

RayGen

Series D in 2025
RayGen is an Australian technology company focused on solar power and electricity storage. Its Solar Power Plant provides on-demand renewable energy by combining PV Ultra solar cogeneration with electro-thermal storage to deliver utility-scale, time-shifted power and synchronous generation. The system is designed to be located where the grid requires flexibility and can support dispatchable electricity for grid services, cogeneration, and potential green hydrogen production. RayGen manufactures high-efficiency solar modules at a 25 MWac facility in Melbourne and has deployed 1 MWac PV Ultra projects under power purchase agreements. The company employs around 30 people across engineering, manufacturing, operations and sales and has received support from government programs such as ARENA and Victoria’s New Energy Jobs Fund.

H2SITE

Series B in 2025
H2SITE develops on-site hydrogen production technology that enables compact systems for generating hydrogen at customer sites. The technology supports low-carbon hydrogen production and integrates production, transportation, and storage, making hydrogen transport more viable and helping unlock hydrogen markets. The company aims to help businesses reduce transportation costs and energy waste by providing efficient, on-site hydrogen solutions.

Ørsted

Post in 2024
Ørsted develops, maintains, and operates offshore and onshore renewable energy farms, energy storage facilities, and bioenergy plants. Its vision is a world powered entirely by green energy. Formerly known as DONG Energy, Ørsted has transformed from a black to a green energy company over the past decade, reducing its coal consumption significantly and aiming for full phase-out by 2023. As a global leader in offshore wind with a market share of 25%, it currently powers approximately 9.5 million people.

Captura

Series A in 2024
Captura is a direct ocean capture company developing a carbon removal system that extracts carbon dioxide from ocean water to enable scalable, low-cost removal from the atmosphere. It uses electrodialysis technology that captures carbon without generating waste or requiring feedstocks, offering ocean-based removal suitable for carbon credit markets and producers of low-carbon products.

Nth Cycle

Series B in 2023
Nth Cycle is a company specializing in metal processing technology. It collaborates with battery recyclers and miners to recover critical minerals from electronic waste and low-grade mine tailings using its proprietary electro-extraction method, offering an alternative to traditional hydrometallurgy and pyrometallurgy processes.

Rio Energy

Acquisition in 2023
Rio Energy is an environmental firm that focuses on the development, construction, and operation of renewable energy projects. The company specializes in creating power generation platforms that emphasize efficiency and sustainability. With integrated capabilities, Rio Energy delivers insights and services that support the full functionality of its projects, ensuring they operate effectively. The firm's commitment to the renewable energy sector positions it as a key player in the transition to sustainable power solutions.

Carbon Recycling International

Funding Round in 2023
Founded in 2006, Carbon Recycling International specializes in producing renewable methanol using carbon dioxide, hydrogen, and electricity. Its proprietary technology enables large-scale conversion of emissions into liquid fuels and chemicals, promoting sustainability within the power generation and industrial production sectors.

Suncor Energy

Acquisition in 2023
Suncor Energy is a Canadian integrated energy company that develops and markets petroleum resources, with a core focus on the Athabasca oil sands. It conducts oil sands development and upgrading, offshore and onshore exploration and production, and refining and marketing of crude oil and refined products. The company markets crude oil, natural gas, byproducts, refined products, and power, and participates in trading activities. It markets Petro-Canada branded products in Canada and operates a network of retail and wholesale channels. Suncor maintains wind farms in Ontario and Western Canada and pursues investments in power and renewable fuels to support a transition to lower-emission energy. Its international footprint includes offshore assets in the North Sea and onshore assets in Libya and Syria, alongside refining and marketing operations in Canada and the United States. Founded in 1917 and headquartered in Calgary, Suncor aims to balance asset quality with growth prospects.

HSL Technologies

Series A in 2023
HSL Technologies develops hydrogen solutions focusing on safe transport, storage, and on-demand generation. Its HydroSil-based technology enables hydrogen to be moved through conventional infrastructure with reduced risk, supporting scalable delivery and storage. The company also engineers hydrogen generation technology that produces hydrogen on demand through a controlled reaction between two stable liquids, enabling safe transport and storage at ambient temperature and pressure. By delivering energy-dense, adaptable hydrogen options, HSL Technologies addresses logistical challenges tied to traditional storage and supports the transition to low-carbon energy systems.

Captura

Series A in 2023
Captura is a direct ocean capture company developing a carbon removal system that extracts carbon dioxide from ocean water to enable scalable, low-cost removal from the atmosphere. It uses electrodialysis technology that captures carbon without generating waste or requiring feedstocks, offering ocean-based removal suitable for carbon credit markets and producers of low-carbon products.

Elestor

Venture Round in 2022
Elestor BV, founded in 2014 by Wiebrand Kout and headquartered in Arnhem, the Netherlands, specializes in energy storage systems aimed at optimizing the use of self-generated renewable electricity. The company focuses on developing large-scale, cost-effective technologies that can be integrated with hydrogen infrastructures and electrolyzers. This integration significantly reduces the production costs of green hydrogen, allowing clients to lower their electricity storage expenses. Elestor's innovative approach positions it as a key player in the renewable energy sector, facilitating the efficient storage of electricity and promoting sustainable energy solutions.

Revterra

Series A in 2022
Founded in 2017, Revterra specializes in developing flywheel energy storage systems for industrial and utility-scale applications. Its patented technology uses passive magnetic bearings to enable low-power consumption at high speeds, facilitating the storage of renewable energies like wind and solar.

East Point Energy

Acquisition in 2022
Founded in 2017, East Point Energy develops and operates utility-scale energy storage projects. It partners with utilities, independent power producers, landowners, and communities to enhance grid reliability, resilience, and affordability.

H2SITE

Series A in 2022
H2SITE develops on-site hydrogen production technology that enables compact systems for generating hydrogen at customer sites. The technology supports low-carbon hydrogen production and integrates production, transportation, and storage, making hydrogen transport more viable and helping unlock hydrogen markets. The company aims to help businesses reduce transportation costs and energy waste by providing efficient, on-site hydrogen solutions.

Electric Hydrogen

Series B in 2022
Electric Hydrogen is a company focused on deep decarbonization by developing low-cost, high-efficiency systems for producing fossil-free hydrogen. The company targets industrial sectors such as ammonia and steel production, which contribute significantly to global greenhouse gas emissions. By rethinking electrolysis technology from scratch, Electric Hydrogen aims to make clean hydrogen competitive with traditional methods in terms of cost and scale. Their advanced PEM (Proton Exchange Membrane) technology uses renewable electricity to generate clean hydrogen gas, reducing industrial pollution and dependence on fossil fuels. The company's leadership team brings extensive experience from pioneering clean energy companies like Tesla and First Solar, positioning Electric Hydrogen as a strong contender in the quest for zero-emission industrial processes.

Booster

Series D in 2022
Booster is a mobile energy delivery company based in San Mateo, California, that focuses on decarbonizing last-mile delivery. Established in 2015, it provides a full-service gas station on wheels, allowing customers to refuel their vehicles at any location via a mobile application. This innovative approach has enabled over 120,000 customers and more than 300 businesses to save significant time and resources, with reported savings of over eight million miles driven and four million pounds of CO2 emissions avoided. By streamlining fuel delivery, Booster helps businesses reclaim more than 31,000 labor hours annually, while also reducing wear and tear on vehicles and minimizing fueling costs.

Noriker Power

Venture Round in 2021
Noriker Power builds and operates a portfolio of energy assets, developing projects from origination through to delivering grid services. They provide project development, asset optimization, control systems & integration, and data services.

LevelTen Energy

Series C in 2021
LevelTen Energy is a Seattle-based company that operates a renewable energy transaction marketplace platform. Founded in 2016, it facilitates connections between corporate and industrial power buyers and utility-scale wind, solar, and storage projects. The platform enables these buyers to access power purchase agreements (PPAs), providing financial security through fixed-price renewables and the economic advantages of large-scale projects. LevelTen Energy equips renewable energy buyers, advisors, and sellers with tools and services to expedite better deals.

Hyperion Global Energy

Seed Round in 2021
Hyperion Global Energy develops modular carbon capture and recycling technology for industrial-scale deployment, designing advanced thermal reactors that divert waste carbon dioxide from heavy industry and convert it into high-value mineral commodities. The company employs patented processes to enable compact systems capable of handling large CO2 flows while generating power, with the aim of addressing energy needs and reducing climate impact. By turning emissions into minerals and energy, Hyperion Global Energy seeks to provide affordable, clean, and safe energy solutions for clients and advance cleaner industrial operations.

Upwing Energy

Venture Round in 2018
Upwing Energy, Inc. is a technology developer focused on enhancing natural gas production through innovative artificial lift solutions. Incorporated in 2015 and headquartered in Cerritos, California, the company specializes in the Upwing Subsurface Compressor Systems, which optimize gas well performance by enabling higher drawdown at the compressor's suction, thereby increasing gas production and recoverable reserves while reducing energy consumption. Upwing's magnetic drive system further enhances oil production by leveraging magnetic technologies to drive and levitate the rotor on a retrievable string without requiring mechanical and electrical connections. This technology is applicable in both onshore and offshore subsea wells, positioning Upwing Energy as a leader in improving production and recovery rates from conventional and unconventional natural gas resources, ultimately aiming to maximize the economic returns for its clients. Upwing Energy operates as a subsidiary of Calnetix Technologies, LLC.

Convergent Energy and Power

Funding Round in 2016
Convergent Energy and Power is a developer of energy storage assets, focusing on clean energy solutions. The company specializes in commercial and industrial applications to grid-connected systems, managing all aspects of the development cycle from project identification to operations.

Carbon Trust

Venture Round in 2016
Established in 2001, Carbon Trust is a global organization dedicated to accelerating sustainable, low-carbon economies. With over 200 experts spanning engineering, finance, and policy, they assist businesses, governments, and institutions worldwide in reducing carbon emissions and enhancing resource efficiency.

Corvus Energy

Corporate Round in 2015
Corvus Energy Ltd. is a Canadian company specializing in the research, development, manufacture, and supply of energy storage solutions for the marine, oil and gas, and port sectors. Established in 2009 and headquartered in Richmond, the company focuses on delivering advanced lithium-ion battery technologies that create modular energy storage systems. These systems are designed to offer consistent and economical power for hybrid and all-electric maritime applications, including cruise ships, ferries, offshore vessels, and heavy industrial machinery. In addition to its energy storage products, Corvus Energy provides a range of services such as technical support, spare parts, extended warranties, field service, and training. The company's innovative solutions are recognized for enhancing operational efficiency and promoting clean energy leadership in the industry.

Pelamis Wave Power

Venture Round in 2008
Pelamis Wave Power is a pioneer in the renewable energy sector, specializing in the generation of electricity from ocean waves. The company has developed the Pelamis Wave Energy Converter, a semi-submerged and articulated structure made up of cylindrical sections connected by hinged joints. This innovative system is designed to assist project developers and electricity generators in the development, construction, and operation of wave power projects. Pelamis Wave Power was the first to introduce a commercial-scale machine capable of delivering electricity to the grid from offshore wave energy, marking a significant advancement in the utilization of marine resources for sustainable energy production.
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