NORNIR
The Norwegian deep tech company Nornir, today announced a $30 Million investment commitment from GEM Global Yield LLC SCS (“GEM”), the $3.4 Billion, Luxembourg based, private alternative investment group that focuses on emerging markets with offices in Paris, Nassau (Bahamas) and New York.
Under the agreement, GEM will provide Nornir with a Share Subscription Facility of up to €30 Million for a 36 month term following the public listing of the Nornir common stock. Nornir will control the timing and maximum amount of each drawdown under the facility and has no minimum subscription obligation.
Nornir's unique “Hive Mind” network technology operates in the AI driven Smart City and smart asset management industry; which is one of the fastest growing markets in the world expected to reach $100 trillion in 2021. The industry is morphing into the Internet of Things (IoT) era which opens up new markets and opportunities where digital assets become intelligent and embedded into various additional representations like 3D models (BIM) and Digital Twins. One of the main benefits using Nornir’s machine learning infrastructure is that the device itself becomes “alive” and tells the system when it needs to be replaced, who can replace it and when. Autonomous systems will drastically reduce cost and simplify administration.
“With GEM’s investment, we will scale and implement our international go-to-market strategy. I’m very happy to see that our hard work is being materialized and I'm looking forward to further developing our services.” - says Paal Kristian Levang CEO, Nornir
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries from 5 continents.
GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.
Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.
More company info at gemny.com .
About Nornir
Nornir is a technology provider offering state-of-the-art software tools for development of AI networks. The Hive Collective is a new decentralized AI networking invention by Nornir that gives lifelong mobility and dynamical value chain management.
Nornir’s main goal is to help new and well established businesses so they can quickly adapt to the fast growing AI market. Nornir has been awarded with the Seal Of Excellence from EU's Horizon 2020 program and is part-financed with a loan from Innovation Norway .
More company info at nornir.io .
View source version on businesswire.com: https://www.businesswire.com/news/home/20211207006151/en/
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Samsung Bioepis to Commercialize BYOOVIZ® (ranibizumab) in Europe from January 202629.10.2025 08:00:00 CET | Press release
Samsung Bioepis will assume full commercial responsibility for BYOOVIZ® (ranibizumab) upon full transition of Biogen’s commercialization rights back to Samsung Bioepis effective as of January 2026BYOOVIZ, approved by the European Commission (EC) in August 2021 as the first ophthalmology biosimilar in Europe, has been commercially available in several European countries since March 2023 Samsung Bioepis Co., Ltd. announced today that the company has entered into an Asset Purchase Agreement (APA) with Biogen regarding Samsung Bioepis’ two ophthalmology assets: BYOOVIZ® (ranibizumab), a biosimilar referencing Lucentisi (ranibizumab) and OPUVIZ™ (aflibercept), a biosimilar referencing Eyleaii (aflibercept) — in Europe. Samsung Bioepis will have full responsibility for commercialization of BYOOVIZ upon the transfer of commercial rights from Biogen back to Samsung Bioepis, effective as of January 2026. “We are pleased to announce our direct commercialization initiative for BYOOVIZ in Europe.
Recover™ Secures Multi-Year Recycled Cotton Agreement with H&M29.10.2025 08:00:00 CET | Press release
Recover™ has signed a multi-year agreement with H&M to support the integration of its recycled cotton fiber, RCotton, for use in H&M’s products. Since early 2024, H&M and Recover™ have collaborated on product development, which now enables scaled commercial introduction of Recover™ mechanically recycled cotton into H&M’s collections. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251029456063/en/ Recover™ has signed a multi-year agreement with H&M to support the integration of its recycled cotton fiber, RCotton, for use in H&M’s products. Recover™ combines more than 75 years of textile recycling expertise with advanced processes that deliver traceability and consistent quality at an industrial scale, operating five recycling hubs located at the heart of textile production streams in Europe, Asia and the Americas. These capabilities are essential for a global fashion player like H&M Group, where transparency, fiber performanc
Ant Group’s AQ Tops China’s AI-Native Healthcare Apps, Launching New Features for Chronic Disease and Elderly Care29.10.2025 07:28:00 CET | Press release
Ant Group’s AI healthcare service AQ is now among China’s top 7 AI-native apps and the only healthcare app on the list, based on monthly active users, according to the latest report from QuestMobile on AI applications in China. Within this group, AQ achieved the highest compound growth rate of 83.4%. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251028871468/en/ Ant Group’s AI healthcare platform AQ introduces new features, including family health record sharing, to support chronic disease management and elderly care. Since its public beta as an Alipay mini-program in September 2024 and official launch as an independent app in China in June 2025, the AQ platform has served 140 million users as of September 2025. It provides more than 100 AI-powered services, including doctor recommendations, medical report analysis, and personalized health guidance. These developments come amid China’s ongoing demographic transformation. By
Aramco and Yokogawa Achieve a Major Milestone with Commissioning of Multiple Autonomous Control AI Agents at Major Gas Facility29.10.2025 03:00:00 CET | Press release
- Groundbreaking deployment successfully optimizes gas treatment unit, reducing energy and chemical use - Yokogawa Electric Corporation (TOKYO: 6841, “Yokogawa”), a leader in process automation technology, announces it has achieved a historic milestone in the deployment of industrial artificial intelligence (AI) solutions with Aramco, one of the world’s leading integrated energy and chemicals companies. Multiple autonomous control AI*1 agents have been successfully implemented by Yokogawa at Aramco’s Fadhili Gas Plant in the Kingdom of Saudi Arabia to enhance operational efficiency. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251028792329/en/ Fadhili Gas Plant (Courtesy of Aramco) The AI solution developed by Yokogawa uses multiple, coordinated AI agents of the Factorial Kernel Dynamic Policy Programming (FKDPP)*2 reinforcement learning-based AI algorithm to directly and autonomously control and optimize acid gas removal
FPT Signs Platinum Partnership with Clearlake Capital to Accelerate Digital Transformation in Private Equity Sector29.10.2025 02:10:00 CET | Press release
FPT, a global leader in digital transformation, announced the signing of a Platinum Partnership Agreement with Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), a global investment firm managing integrated platforms spanning private equity, liquid and private credit, and other related strategies. This strategic alliance marks a bold step in FPT’s expansion into the private sector, to deliver transformative technology solutions across industries. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251028209395/en/ “This Platinum Partnership with Clearlake is a proud milestone in our journey to become a global digital transformation powerhouse - delivering business value and creating lasting impact for the communities we serve through technology,” said Pham Minh Tuan, Executive VP of FPT Corporation and CEO of FPT Software. “We aim to bring cutting-edge, AI-First solutions and services to Clearlake’s portfo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom