NORNIR
7.12.2021 23:11:11 CET | Business Wire | Press release
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
Red Sea Global Reveals ADRENA, a New Adventure and Entertainment District16.2.2026 21:11:00 CET | Press release
The first of its kind in the region with more than 20 diverse land and water experiences Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, has revealed plans to open an adventure and entertainment district. It will be unveiled to the public from 1 March, following a soft launch for invited guests from 15 February. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216890688/en/ ADRENA is located a short drive away from the recently opened Shura Island Named ADRENA, it will serve guests from across The Red Sea destination and further afield. Located a short drive from Shura Island, the district will offer visitors unique activities, ranging from surfing to wakeboarding, cliff diving to skateboarding. Set in a truly unspoiled and natural environment, ADRENA offers day and night entertainment for different moods. After dark, the beach club becomes a place to unwind while a D
HELLENiQ ENERGY and Chevron Sign Offshore Concession Agreements for Hydrocarbon Exploration and Production with the Hellenic Republic16.2.2026 19:07:00 CET | Press release
Marking a New Milestone in HELLENiQ ENERGY’s Upstream Portfolio HELLENiQ ENERGY, in collaboration with Chevron, signed today the Lease Agreements with the Hellenic Republic for the exploration of four offshore blocks located south of Crete and the Peloponnese, marking a significant milestone for Greece’s upstream development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216381183/en/ Snapshot from the signing of the lease agreements at the Maximos Mansion, attended by Prime Minister Kyriakos Mitsotakis. From left: Stavros Papastavrou, Minister of Environment and Energy; Andreas Shiamishis, CEO of HELLENiQ ENERGY; Gavin Lewis, VP Global New Ventures at Chevron; and Aristofanis Stefatos, CEO of HEREMA The successful consortium, with Chevron at 70% interest and being the Operator and HELLENiQ ENERGY at 30% interest, was selected following a competitive international tender launched by the Greek State in 2025. The four offs
Nexo Returns to the U.S.16.2.2026 17:00:00 CET | Press release
Nexo is relaunching its flagship Yield, Exchange, Loyalty, and Credit Lines in the United States. Nexo today announced its formal return to the United States market in 2026. The company’s official U.S. relaunch is being executed in partnership with regulated partners, providing a U.S.-compliant framework for the company’s investment and credit product offerings. Digital asset trading infrastructure is provided by Bakkt, a publicly listed U.S.-based digital asset platform purpose-built to support institutional risk management and compliance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216234514/en/ Nexo is relaunching its flagship Yield, Exchange, Loyalty, and Credit Lines in the United States. Nexo’s renewed presence in the United States follows a period of deliberate recalibration and reflects the company’s long-term commitment to operating in markets where regulatory frameworks are evolving, institutional standards a
TRU Simulation’s Full Flight Simulator for the Cessna Citation Ascend Achieves FAA Qualification, Expanding Advanced Training for Midsize Jet Pilots16.2.2026 16:00:00 CET | Press release
TRU Simulation + Training Inc., a Textron Inc. (NYSE:TXT) company, and an affiliate of Textron Aviation, announced today its Full Flight Simulator (FFS) for the Cessna Citation Ascend has achieved Federal Aviation Administration (FAA) Level D qualification. This milestone significantly enhances advanced training options for midsize jet pilots, delivering a highly immersive and true-to-life training environment on the recently FAA certified Citation Ascend. European Union Aviation Safety Agency (EASA) qualification is anticipated in 2026, further extending the simulator’s global reach. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216456292/en/ TRU Simulation’s Full Flight Simulator for the Cessna Citation Ascend achieves FAA qualification, expanding advanced training for midsize jet pilots “Pilots deserve training capabilities that reflect the advanced technology and performance that the Citation Ascend brings to the mid
AIT Worldwide Logistics Announces Strategic Partnership With Greenbriar Equity Group16.2.2026 15:03:00 CET | Press release
Agreement supports continuity, accelerating next phase of AIT’s growth plan Supply chain solutions leader AIT Worldwide Logistics (“AIT”) has entered into a definitive agreement to partner with Greenbriar Equity Group, L.P. (“Greenbriar”) in support of the global freight forwarder’s next chapter of growth. Financial terms of the private transaction were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260216984391/en/ AIT Worldwide Logistics' strategic partnership with Greenbriar Equity Group represents one of the largest private acquisitions ever in the global freight forwarding sector. The deal marks the culmination of five successful years with The Jordan Company, L.P. (“TJC”). TJC, alongside key members of AIT’s executive leadership team, will remain invested in the company. Over the course of the company’s relationship with TJC, AIT has dramatically expanded its global footprint, acquired 14 businesses, and
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