Tunable raises NOK 40 million to accelerate growth
Published by Jessica Casey,
Editor
LNG Industry,
Tunable has welcomed Wilhelmsen as the main new investor contributing with new equity alongside existing investors Skagerak Capital, GTT, TRUMPF Venture, MP pension, and Skeie family. The investments will support Tunable's continuing international expansion and therefore contribute to reduce greenhouse gas (GHG) emissions across different sectors through advanced gas analysis technology.
“I am happy to welcome Wilhelmsen into the Tunable family, and I am excited to see the completion of this equity transaction which will ensure the company’s continued strong growth. The advanced Tunable sensor technology can contribute significantly to reduce GHG emissions in a number of different sectors, therefore, the sooner this technology is rolled out the better,” stated Jon André Løkke, Chairman of the Board of Directors.
Nakul Malhotra, Vice President Emerging Opportunities Portfolio at Wilhelmsen, added: “We believe accurate measurement and emissions transparency are the foundation of the maritime industry’s ambitions of viable net-zero pathways. We are excited, therefore, to join Tunable’s journey in progressing solutions that aid this process and look forward to seeing wider collaborations in this space.”
Tunable's cutting-edge gas measurement technology is revolutionising the way industries measure and manage emissions. By recognising complex gas patterns and providing real-time, accurate data, Tunable's solutions empower industries to not only meet regulatory standards but also drive significant reductions in GHG emissions.
The company's technology is instrumental in diverse applications – from detecting mould in produce, which can prevent millions of tonnes of CO2 emissions, to optimising industrial processes across various sectors. This ability to identify specific gas mixtures or states makes Tunable a critical player in environmental sustainability.
Tunable is a rapidly growing company, with over NOK 75 million in orders in the past 12 months alone. This growth trajectory is fuelled by strong demand within the LNG carrier segment, where its natural gas measurement systems are becoming essential for optimising fuel efficiency by measuring boil-off gas. With over 10% of LNG vessels using Tunable’s technology, the company expects to triple its revenues from 2023 – 2024.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/28082024/tunable-raises-nok-40-million-to-accelerate-growth/
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