Alotta raises NOK 63.5m after landmark deal with world’s largest salmon producer

Wilstar Innovate AS led the funding round alongside existing backers Norselab, Umoe, Bondø Invest and Pir Invest. Proceeds will be used to scale operations internationally, with focus on Chile. As the second-largest salmon-producing nation globally, Chile has over 600 active farming sites across Los Lagos, Aysén and Magallanes. Nearly all are off-grid and dependent on diesel generators, consuming more than 60 million litres of diesel annually and emitting over 160,000 tonnes of CO₂. This represents a vast opportunity for Alotta’s renewable power model.

–We are truly grateful for the trust from both investors and customers who share our vision of replacing diesel with green energy in remote areas. Our role is simple yet powerful: we design, build and operate systems that deliver reliable, quiet power where it’s needed most. By combining technology delivery through Alotta AS with long-term kWh supply from Alotta Energy, we create both impact and profitability. This is what makes our model attractive to global leaders like Mowi – they get clean power without having to own or operate the systems themselves, says Alotta CEO Kari-Elin Hildre.

Marcus Bleasdale, Managing Director of Wilstar Innovate, comments
–As an impact investing platform of a core investment business with a deep-rooted history within the maritime space, we are excited to join existing investors Umoe and Norselab in backing Alotta’s mission to provide clean renewable energy to off-grid coastal industries and communities. We have been impressed by the company’s progress in the last 12 months, having successfully delivered its first projects in Norway and Chile. We look forward to being a long-term investor in Alotta and support their promising growth journey ahead.

Alotta currently focuses on floating solar for aquaculture. Its dual revenue model — technology delivery through Alotta AS and recurring kWh revenues through Alotta Energy — has proven highly attractive and secures long-term commercial partnerships.

Beyond aquaculture, Alotta’s approach can accelerate renewable adoption in rural and offshore regions worldwide, where 750 million people still rely on diesel generators as their primary energy source due to inadequate connectivity and infrastructure. Alotta’s mid-term ambition is to enable rapid deployment of renewables in regions with no fossil-free alternatives.

Additional quotes

Yngve Tvedt, Norselab Chief Investment Officer:
–The market for distributed renewable energy is growing rapidly. Alotta combines industrial expertise, sustainability, and scalable potential. We are proud of what the team has achieved and excited about the growth ahead.

Jostein Eiesland, Umoe CEO:
–Since our first investment, Alotta has proven its ability to reduce fossil dependence where alternatives are scarce. The company has built a robust energy-as-a-service platform with international relevance, and we see growing demand in its markets. By reinvesting, we strengthen a company we strongly believe in and help realize its growth and sustainability potential.

Vibecke Bondø, Bondø Invest:
–Alotta’s model is proven in Norway. With a foothold in Chile, Alotta is stepping onto the international stage – and we want to support that expansion.

Anja Solevågseide, Pir Invest:
–We invest in companies that combine sound economics and sustainable growth. Alotta is a prime example.

About Alotta
Alotta is a pioneering Norwegian energy company aiming to make renewable energy available in more places, for more people. Since its founding in 2020, the company has established a solid foothold in floating solar solutions and entered partnerships with industrial heavyweights such as AKVA Group. With backing from investors including Wilstar, Norselab and Umoe, Alotta contributes to the UN Sustainable Development Goals by delivering scalable, environmentally friendly solutions that replace fossil energy in remote areas.

About Wilstar Innovate
Wilstar Innovate AS is the finance-first impact investment platform of Wilstar, owned by the Awilhelmsen Group. The company invests in innovative technology and sustainable solutions, with the aim of achieving competitive financial returns while acting as a catalyst for positive disruption.

About Umoe
Umoe is a family-owned, industrial investment company founded by Jens Ulltveit-Moe in 1984. Umoe is an industrial investment company with assets within biofuels, clean technology, ship design and construction, manufacturing and branded consumer industries. Umoe is committed to the global sustainability targets, and has been an early mover into investments in renewable energies and clean tech with our investments into biofuels and hydrogen and biogas storage systems.

About Norselab
Norselab is an impact-focused asset management firm headquartered in Oslo, Norway. With an uncompromising focus on creating a meaningful future for all, our strategies invest in net-positive companies that accelerate the urgently needed change in global industries. Norselab currently manages funds in two verticals: growth equity and credit. All strategies are governed by our industry-leading impact frameworks and disclose under SFDR Article 9, while being designed for long-term superior capital returns. Norselab is backed by Capricorn Investment Group, one of the largest mission-aligned investment firms in the world. Norselab is a Certified B Corp™.

About Bondø Invest
Bondø Invest is a private investment company founded in 2021 by Vibecke Bondø, seeking opportunities that align with sustainable growth, long-term value creation, and innovation. Vibecke Bondø is a well-known Norwegian business executive in the aquaculture industry, known as former owner and CEO of SalmoNor AS and as Chair of the Board in NTS ASA.

About Pir Invest
Pir Invest is a diverse group of founders investing in early-stage companies in the Sunnmøre region. We commit our talent and communal resources, moving beyond simply capital. What emerges is a collective of builders, sharing knowledge, networks, and assets, to help startups level up.