GTT takes a minority interest in Tunable AS, a highly innovative Norwegian start-up specialised in multi-gas & emissions analysers

2022-09-14

Paris – September 14, 2022 - GTT announces it has taken a minority stake in the Norwegian technology start-up Tunable AS, via a €6.4 million investment round co-led with TRUMPF Venture, with the participation of the company's existing shareholders.
Tunable AS designs and manufactures compact multi-gas analysers based on MEMS[1] technology, combining micro and nanotechnology with infrared spectroscopy[2]. The sensors developed by Tunable identify and analyse multiple gases simultaneously and provide, in real time, fast, reliable and accurate measurements.

Tunable's technology has already established itself in exhaust gas measurement and fuel gas analysis on ships. Tunable has started to work with GTT to design, commercialise and implement boil-off gas composition and emissions monitoring systems for maritime applications, thereby contributing to emissions reduction and improve the operational efficiency of the shipping industry.

Beyond its shipping applications, Tunable is also developing new fields of application for its technology, including, for example, air quality and workplace environment or detection of explosive or hazardous gases.

Philippe Berterottière, Chairman and CEO of GTT, declared: “We are pleased to accompany Tunable and the development of its proprietary technology in the shipping industry and beyond. This minority investment is part of the implementation of our Group’s strategy to design technologies for a sustainable world and is consistent with our positioning in digital solutions. In the future, we intend to continue to seek new investments in innovative technology companies that can contribute to enriching GTT’s portfolio of solutions and technologies.”

Kristian Hovet, CEO of Tunable, commented: “Tunable's technology greatly simplifies gas analysis and enables high-rate data collection. Today our technology is supporting the maritime industry in solving their environmental challenges, while enabling productivity improvements. We are proud to welcome GTT and TRUMPF Venture as our new minority investors. This investment will allow us to further develop our products, as well as increase our sales and marketing efforts to reach our growth targets”.

Media contact:
press@gtt.fr / +33 (0)1 30 23 48 45

Investor Relations contact:
information-financiere@gtt.fr / + 33 (0)1 30 23 20 87

About TRUMPF

TRUMPF is a high-tech company offering manufacturing solutions in the fields of machine tools and laser technology. The company drives digital connectivity in manufacturing through consulting, platform products and software. TRUMPF Venture extends the TRUMPF Group’s comprehensive activities to promote innovation and to detect disruptive technologies and business models early on. The corporate venture capital unit invests globally in early-stage start-ups whose activities are complementary or adjacent to the TRUMPF core business, such as advanced photonics and smart-factory solutions.

Find out more about TRUMPF at www.trumpf.com

About Tunable AS

Tunable AS is a Norwegian based technology company located in Oslo with proprietary gas analyser technology. Our multi-gas analysis is done with micro and nanotechnology based infrared spectroscopy. The instruments can measure all components of a typical natural gas composition or exhaust gas in seconds by only applying power, making in-line measurements of multiple gasses possible. The instrument offers high sensitivity within a small and robust device that can be adapted to a wide range of applications.

For more information, visit www.tunable.com/

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[1] Microelectromechanical systems.

[2] Infrared spectroscopy exploits the fact that molecules absorb frequencies that are characteristic of their structure. It is used to study and identify chemical substances, in this case, in gaseous form.