StormGeo is a leading global provider of software-based decision support for weather sensitive operations. The company has pioneered weather-centric services for multiple industry verticals, including shipping, oil & gas and renewables, and today has 24 offices in 15 countries and 500 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 multiple end-industries, including shipping, renewables, oil & gas, and onshore industries such as healthcare, hospitality and retail. 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).
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.
The development plan for StormGeo is to further strengthen market dominance in key industries, such as 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.
The icons illustrate the portfolio companies' positive societal contributions based on their solutions i.e. how their products and/or services solve key challenges expressed as the Sustainable Development Goals (SDGs)
Key events since EQT investment
- In September 2018, StormGeo signed the acquisition of Nautisk, a global leader within digital charts and publications. The acquisition allows StormGeo to create a unified and complete onboard-to-onshore software platform for maritime navigation and planning. The transaction closed in October 2018.
- In April 2016 StormGeo was awarded the Norwegian Export Award. Defeating 79 other companies, StormGeo won "for their innovation and success within weather forecast services"
- StormGeo acquires Climatempo
- StormGeo acquires Eco Insight
- StormGeo becomes UN Global Compact Partner
- In April 2020, StormGeo provided complementary weather monitoring and alerts to Covid-19 testing centers.