Viking and Investinor in NOK 86m round for ChapDrive

The new investors Viking Venture and Investinor contribute together with the existing shareholders to continue towards commercialisation of the ChapDrive technology for large wind turbine in the 5 MW class. The wind power market has seen a substantial growth in the last years and the addressable market for the ChapDrive technology is in excess of NOK 150bn annually.

Based in Trondheim, Norway, ChapDrive was founded in December 2006 based on research from The Department of Energy and Process Engineering at the Norwegian University of Science and Technology (NTNU). The company develops a patented system for hydraulic transmission in wind turbines.

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