NorthZone Ventures, Hafslund Venture and Statoil New Energy invests in ChapDrive AS
NorthZone Ventures, Hafslund Ventures and Statoil New Energy have agreed to invest a total of NOK 14.3 million in ChapDrive AS and NTNU Technology Transfer AS (TTO).
ChapDrive’s system is based on studies from The Department of Energy and Process Engineering at the Norwegian University of Science and Technology (NTNU), and provides a patented system for hydraulic transmission.
The system provided by ChapDrive enables lower weight and more cost efficient wind turbines by reducing weight, an important aspect in the development of offshore wind turbines.
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| Fund | Northzone V K/S Argentum share 11.43% |
| Portfolio Company | ChapDrive |
| Date of Transaction | 2007-07-02 |
| Transaction | Finance round |
| Seller | |
| Buyer | Northzone V K/S |
| Size of Transaction | NOK 14.3m |
| Ind. Focus | Cleantech |
| Geography | Norway |
| Stage | Venture |