Press release – From research to practical digitalization in record time
The Halden based Visavi Technology As (VISAVI) is receiving 15 MNOK of investment funds from Proventure and SINTEF Venture V. Visavi has developed a unique software solution for easy visualization of complex operations. The solution has a large potential for offshore and onshore based process facilities.
Visavi was established in November 2014 based on research performed by Institute for Energy technology (IFE) in Halden and Kjeller Innovation. Visavi develops and delivers software solutions for optimization of the operation and maintenance of offshore platforms and onshore based process facilities.
VISAVI LivePlan provides real-time visualization of work task schedules to help industry organisations execute their planned operations safely and efficiently. The core of LivePlan is a visual timeline featuring work tasks and their related constraints such as task interdependencies, physical location, infrastructure, resources and safety barriers. LivePlan pulls key data from systems like SAP, Primavera, Maximo and IFS, and integrates the data visually on a large touch screen for easy access and sharing. Re-scheduling is supported by the ability to manually create and store scenarios, and authorized users can manually update the plan and have changes written back to source systems. This functionality makes day by day planning and execution far more efficient. LivePlan is now in use in companies like Borregaard, Aker BP and Neptune Energy which all see a large potential using the solution.
LivePlan is cloud based and is a good example of solutions that supports the digital agenda (Industry 4.0) as an element in making the industry more efficient and competitive.
As a part of the company’s growth ambitions the Trondheim based venture fund, Proventure Seed II AS and SINTEF Venture V AS have invested 15 MNOK. The Viavi’s technology fits well into these company’s strategic investment plans.
“Visavi has a unique product with a large international potential and has a team with impressing ability to execute implementation. This is the type of companies we want to invest in and develop further” – says Geir Ove Kjesbu, partner in Proventure.
“LivePlan is a good solution for execution of maintenance operations. The company’s market potential is large and we are happy to take part in further development of the company, which has its origin from the NTNU “IO centre”, says Jostein S. Bjøndal, Investment director at SINTEF Venture V AS.
Viavi’s CEO, Jon Stærkebye and the Chairman of the board, Jørgen Lundberg, are both happy to have Proventure and SINTEF as owners and both expect to utilize the experiences from these two companies experiences in commercialization of research based technology and bringing the two technology clusters together in this project.
IFE was founded in 1948 and has been key in international energy – and safety research for the last 70 years. IFE has developed technology which is used by IT, metal, process- and offshore industry. IFE is an independent foundation and has today 600 employees with a yearly revenue of 1 Bill NOK
About Kjeller Innovasjon:
Kjeller Innovation AS was established in 1995 and is one of Norways leading Innovation companies. Together with 14 R&D clusters and industry partners Kjeller Innovation develops ideas and research results commercially. The objective is to develop companies that contributes with technologies and solutions for the good of the society.
ProVenture invest in technology companies in the start-up phase and is managing a venture fund of 925 mill NOK . The team in ProVenture has wide start-up experience and significant competence with commercialisation of new technology. ProVenture aim to create value for investors through efficient combination of capital, commercial competence, international network and Norwegian research and development clusters.
About SINTEF Venture V
SINTEF is one of Europe largest research institutes, with multidiscipline competence within technology, natural sciences and social science. The venture fund SINTEF Venture V is an early phase fund with an investment capital of 500 mill NOK. The fund is contributing to increased commercialisation of research results. SINTEF, European Investment Fund and a series of private, Norwegian investors are participating in the fund. European Investment Fund (EIF) is EUs instrument for investments in venture funds in the EØS area. The investment in SINTEF Venture V, which is EIFs largest investment in Norway, is made possible through funds from InnovFin Equity and financial instruments under EUs Horizon 2020.
Contact person: Jon Stærkebye, firstname.lastname@example.org