The Norsemen is a private Norwegian investment club, whose
members invest individually in early stage clean technology
companies and take an active role in building management and board,
fundraising and strategy.
The Norsemen invested in Aquamarine Power in 2007 and have since
participated in further fundraising rounds. Frederik W
Mowinckel has represented the Norsemen on our Board of Directors as
a Non-Executive Director since 2007.
The Norsemen is currently made up of four family offices: Åge
Westbø AS, Mowinckel Management AS, Bergensis Capital AS and
Bergensis Investments Limited.
Åge Westbø AS is the family office of Åge Westbø, co-founder of
SKAGEN Funds - the largest mutual fund company in Norway, which
currently manages funds of £12 billion. As well as its
investment in Aquamarine Power, Åge Westbø AS has invested in one
other clean technologies company, also based in the UK.
Mowinckel Management AS is the family office of Paal Christian
Mowinckel, Elsa Charlotte M. Haukedal and Anna Catharina M.
Holm. In addition to significant interests in real estate in
Norway, Mowinckel Management AS has a portfolio of four clean
technology investments - including Aquamarine Power - all in the
Bergensis Capital AS and Bergensis Investments Limited are the
family offices of Frederik W. Mowinckel. In addition to its
investment in Aquamarine Power, Bergensis currently hold
investments in six further clean technology companies, four in the
UK and one in Norway.
The Norsemen operate a strict environment investment policy and
will only make new investments in companies where the head office
can be reached by train from London.
Since the Norsemen first invested in Aquamarine Power, the company has gone from strength to strength attracting a first class management team and major investors such as SSE and ABB. Aquamarine Power is playing a vital role in creating a new industry for Scotland and the world.Frederik W Mowinckel