May 2026
📣 VC round data is live. Check it out!
Largest Energy Equipment Public Companies in Norway
Benchmark revenue and EBITDA valuation multiples for public comps like
BW Offshore, Nel, Sea1 Offshore, Akastor and NorAm Drilling.
 | BW Offshore Ltd is a holding company. It is engaged in developing, owning, and operating oil and gas Floating Production, Storage, and Offloading vessels (FPSO) and Floating, Storage and Offloading (FSO) vessels. The company’s main activities are engineering, procurement, construction, and installation, as well as lease and operation services for FPSOs. The operating segment of the company is FPSO and Floating Wind in the majority of its revenue is from the FPSO segment. | $5 | +55% | $890M | $2B | 4.2x | 7.8x | ||
| NEL ASA is a hydrogen company delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. It serves industries, energy, and gas companies with hydrogen technology. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. The company's segments include Nel Alkaline Electrolyser and Nel PEM Electrolyser. It generates maximum revenue from the Nel Alkaline Electrolyser. Nel Alkaline Electrolyser segment a supplier of hydrogen production equipment based on alkaline water electrolysis technology. | $0 | +49% | $721M | $589M | 5.4x | (28.8x) | ||
| Sea1 Offshore Inc is a vessel provider to the offshore oil and gas and renewable industry. It has 28 vessels and includes platform supply vessels, anchor handling tug and supply as well as offshore subsea construction and well intervention vessels. The reportable segments are Subsea Vessels, Anchor-Handling Tug Supply (AHTS) Vessels, Platform Supply Vessels (PSVs), Fast Crew & Oil Spill Recovery Vessels, and Other. The company generates the majority of its revenue from Subsea Vessels. | $3 | +14% | $451M | $673M | 2.5x | 3.5x | ||
| Akastor ASA is an oil-services investment company with a portfolio of industrial holdings, real estate, and other investments. Its portfolio includes drilling systems and lifecycle services supplier MHWirth, and vessel-based subsea well construction services. The company has a flexible mandate for active ownership and long-term value creation. Geographically the business presence of the group is seen across the region of Norway, Singapore, North America, South America, Australia, the Middle East, and other regions. | $1 | +16% | $402M | $383M | 9.1x | (71.1x) | ||
| NorAm Drilling AS, through its subsidiary, owns and operates a quality rig portfolio of AC-driven rigs tailored for the drilling of horizontal wells in the United States land drilling market. NorAm Drilling Company operates all eleven rigs and is financed through a combination of equity investments and intercompany loans, at arm’s length terms, from its parent. The group's operating segments are NorAm Drilling Company, which derives maximum revenue, and NorAm Drilling AS. | $5 | +107% | $213M | $203M | 2.0x | 10.1x | ||
| Reach Subsea ASA is a Norwegian subsea service provider. The services provided by the company include vessel fleet which comprises of edda fonn which is used for survey and light construction services, havila subsea, normand reach for complex offshore operations, viking neptun for cable installation and heavy lifting, and stril explorer. It two reportable segments namely Oil and Gas and Renewable and others. The company generates maximum revenue from the Oil and Gas segment. | $1 | -24% | $200M | $351M | 1.2x | 2.8x | ||
| Prosafe SE is an owner and operator of semi-submersible accommodation, safety, and support vessels, and one Tender Support Vessel. The company's vessels serve energy companies on various offshore projects in offshore oil and gas areas. The company's operations are related to the support of the lifecycle of offshore installations, such as maintenance and modification of installations on fields already in production, hook-up and commissioning of new fields, tie-backs to existing infrastructure, and decommissioning. Its core markets are the North Sea, Brazil, and the Gulf of Mexico. | $0 | -46% | $164M | $374M | 2.0x | 1.9x | ||
| Eidesvik Offshore ASA owns and operates a world-wide fleet of purpose-built vessels, providing services to the offshore supply, subsea and offshore renewables markets. The company owns and operates vessels in the following segments of Supply and Subsea and Offshore Renewables, and other. The Subsea segment provides shipping services for subsea work for the oil industry and its ships are adapted for work such as underwater inspection, maintenance, and construction. The Supply segment delivers services to the offshore oil industry. Other represent the SG&A that mainly provide corporate, management and crew services, in addition to the remaining minor effects from the seismic segment. | $2 | +38% | $131M | $227M | 2.7x | 16.5x | ||
| Otovo ASA is an energy company. It is engaged in the development, commercialization and installation of renewable power, as well as taking ownership or providing business advice related to it. The Group’s operating segments are The Marketplace, and Subscription SPV. The Marketplace segment consists of transactions relating to sale of solar panels and related products, while the Subscription segment consists of transactions related to customers subscribing to use solar panels and related products. | $1 | -41% | $80M | $66M | 1.1x | (2.5x) | ||
| Energeia AS develops, manages and owns renewable energy projects based on PV solar power plants. | $1 | -73% | $7M | $12M | 2.0x | (5.8x) | ||
| ElectroMagnetic GeoServices ASA is a company engaged in offering electromagnetic services. The company uses the electromagnetic survey method to locate hydrocarbons in offshore reservoirs. The company's focus is on planning, acquisition, processing, modeling, interpretation, and integration of electromagnetic data. Oil and gas companies, as well as other customers, utilize its services to determine whether an offshore area is suitable for the commercial production of hydrocarbons. The company operates in Europe, the Middle East, and Africa, Norway, North and South America, Asia, and the Pacific Ocean. The majority of their revenue is generated from Norway. It makes money through contract sales and multi-client sales. | $0 | -91% | $3M | $19M | 0.8x | (6.2x) | ||
| Median | $1 | +14% | $200M | $351M | 2.0x | 1.9x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.