GTT takes minority stake in Norwegian startup

French LNG containment specialist GTT has taken a minority stake in the Norwegian technology start-up Tunable, specialised in multi-gas and emissions analyser.

GTT takes minority stake in Norwegian startup
Courtesy of GTT

GTT has taken a minority stake in Tunable AS, via a €6.4 million ($6.36 million) investment round co-led with TRUMPF Venture, with the participation of the company’s existing shareholders.

Tunable designs and manufactures compact multi-gas analysers based on MEMS technology, combining micro and nanotechnology with infrared spectroscopy. According to GTT, the sensors developed by Tunable identify and analyse multiple gases simultaneously and provide, in real time, fast, reliable and accurate measurements.

Tunable’s technology has already established itself in exhaust gas measurement and fuel gas analysis on ships.

Tunable has started to work with GTT to design, commercialise and implement boil-off gas composition and emissions monitoring systems for maritime applications, thereby contributing to emissions reduction and improve the operational efficiency of the shipping industry.

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Philippe Berterottière, CEO of GTT, said: “This minority investment is part of the implementation of our group’s strategy to design technologies for a sustainable world and is consistent with our positioning in digital solutions. In the future, we intend to continue to seek new investments in innovative technology companies that can contribute to enriching GTT’s portfolio of solutions and technologies.”

Kristian Hovet, CEO of Tunable, commented: “Today our technology is supporting the maritime industry in solving their environmental challenges, while enabling productivity improvements. We are proud to welcome GTT and TRUMPF Venture as our new minority investors. This investment will allow us to further develop our products, as well as increase our sales and marketing efforts to reach our growth targets”.