StormGeo

Sales: NOK 473 million in 2017
EBITDA: NOK 130 million in 2017
Employees: 400

StormGeo is a leading global provider of software-based decision support for weather sensitive operations. The company has pioneered weather-centric services for the growing offshore oil and gas industry, and today has 27 offices in 15 countries and 400 employees.

StormGeo was established in Bergen, Norway, in 1997 as a spin-off from TV2.

The company offers, among many other services, weather optimised route advise and post-voyage calculations to the shipping industry to reduce fuel consumption and increase safety to the Oil and Gas industry. StormGeo delivers point specific forecasts coupled with asset specifics to minimize downtime and ensure safety for assets and personnel as well as services to monitor potential oil leakages and real-time predict proliferation (direction and speed).

To StormGeo

Market trends and drivers

The market for weather-based decision support is growing driven by several strong underlying megatrends including climate change, increased focus on the environment, technology development and pressure to reduce cost and increase safety. 

Investment potential

The development plan for StormGeo is to further strengthen market dominance in key industries, such as offshore oil and gas and shipping, implement operational excellence in sales approach and IT operations and further develop Software-as-a-Service product offering and capitalise on the Big Data potential.