ETN board meeting, thematic evening, and hockey

On November 20th, DNB hosted and sponsored Energy Transition Norway’s Christmas seminar at DNB Arena, bringing together board members, members of the Technical Committee, and companies from across the cluster.

Starting with strategy and alignment

The afternoon started with ETN’s board meeting, where the board worked through key agenda items and aligned on ongoing priorities for the cluster. With a shared understanding of the road ahead, the transition into the evening program felt natural, moving from strategy to inspiration, and from governance to open dialogue.

Perspectives on capital, culture and company building

Terje Fanebust (DNB) opened the program and set the tone immediately. With the question “What can we learn from Sweden?”, he pointed to one of the core structural challenges in the Norwegian ecosystem: limited access to private capital. While Norway offers significant public support, Sweden has built a robust environment for risk-taking, venture financing and large-scale private investment. “Cash is king,” he noted, and Sweden’s capacity to finance ambition at earlier stages gives their companies a clear advantage when scaling.

From there, the evening moved into the founder’s perspective. Arda Energy’s Bjørgulf Haukelisæter shared what it truly takes to start a company in Norway. He illustrated the long journey from early technical development to market readiness. He emphasised that every entrepreneur will eventually need to raise capital and that access to the right ecosystem is essential.  

SEID’s Terje Hauan followed with a lively and direct reflection he called “Flåklypa del II”. He addressed cultural barriers that hold Norwegian innovation back: our tendency to play it safe, our discomfort with failure, and the challenge of explaining advanced technical concepts to investors who may not fully understand them. His perspective pointed to the need for more business developers who can translate technical potential into commercial opportunities.

Elin Steinsland (HydePoint) then introduced their work and offered a grounded reminder of the human side of entrepreneurship: that a strong team, the ability to stay motivated, and the habit of celebrating small steps are what keep companies moving through long development cycles.

These perspectives came together in the panel conversation led by ETN Chair Tor Arnesen. Representatives from HydePoint, SEID, Arda Energy and DNB shared honest reflections on what keeps them moving. Panelists spoke about prioritising, taking risks, and continuing even when logic might suggest otherwise. They highlighted the importance of good partners and avoiding the loneliness of building a company alone.  

The evening concluded with the hockey match, bringing everyone together for a relaxed and energetic end to the program.

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