Stavanger-based water-treatment company Water has raised NOK 15 million from Grieg Kapital and Kverva-owned IVC. Both investors are taking stakes in the company, which was founded in 2023 and develops technology for aquaculture. Shifter reports that Water generated NOK 3 million in revenue in 2025; the parties did not disclose a valuation.
Water first worked on water quality aboard wellboats during fish treatment and says it has completed more than 100 treatments. It is now also targeting wastewater from fish-processing plants as discharge requirements tighten. Norwegian seafood industry group Sjømat Norge has estimated that salmon processing plants in Norway alone will need to invest NOK 1–2 billion in new treatment technology.
Chief executive Frank Keller says the new funding will support hiring in technology, project delivery and commercial work. The company also plans to take more of its solutions from pilot projects to commercial scale. The reported funding does not establish when those deployments will generate additional revenue.