Two companies with solutions the world needs

While one company aims to reduce infant mortality caused by jaundice, the other could transform energy use and cut emissions from heavy lifting in sectors such as construction. Two companies with very different solutions, each breaking new ground in its field.

Picterus has developed groundbreaking measurement technology that uses a smartphone to monitor jaundice in newborn babies. The technology is very easy to use and can, in principle, be used by anyone, anywhere. Jaundice is one of the most common reasons why newborn babies are readmitted to hospital, and in developing countries, untreated jaundice causes severe brain damage or death in nearly 200,000 children every year.

Excess Engineering has developed a fully electric solution (an actuator) that can push, pull or lift more than three tonnes – without using oil or diesel. Compared with hydraulic systems, the electric system offers many benefits, including improved energy efficiency, no need for hydraulic oil, lower maintenance requirements and costs, and a longer service life. By improving energy efficiency, this technology enables the transition to zero- and low-emission systems, which is crucial for battery-powered and hydrogen-based systems.

Our CEO, Håkon Haugli, congratulates the two companies on receiving EU funding and highlights them as strong examples of how Norwegian companies deliver groundbreaking solutions to global societal challenges, with significant growth potential.

- Picterus and Excess Engineering are excellent examples of Norwegian entrepreneurs developing and testing technologies and solutions that the world needs. Congratulations to both companies on securing this prestigious EU funding – I look forward to following them on the next stage of their growth journey!

The two companies are in no doubt about what this funding means for their businesses:

- 'It gives us the opportunity to build our organisation, develop products, pilot the technology, and establish relationships and partnerships – all important steps towards scaling the company and entering the market,' says Ove Kalvatn, CEO of Excess Engineering.

Tormod Thomsen, CEO of Picterus, says that the EU's support through grants and equity investment puts the company in a stronger position to address the project's clinical and regulatory challenges. He adds:

- 'The equity investment means we can enter the market significantly faster and move ahead with commercial scale-up and industrialisation. The EU support will be instrumental in helping us attract further equity investment and continue our market development activities.'

During the application process, we supported the companies with advisory, pitch training and a rehearsal ahead of their interview with the European Innovation Council jury. Investinor and our team work together to run the rehearsals offered to Norwegian companies.