Team - EV Private Equity (2024)

Helge Tveit

Managing Partner

Stavanger

I co-founded EV Private Equity (historically “Energy Ventures”) in 2002 alongside former Smedvig CEO, Ole Melberg. The idea of establishing EV Private Equity came during my MBA studies when I realised there was a significantly underserved market in combining entrepreneurial skills with capital and energy technology.

Ole and I grew the firm with investment from institutional investors, which were initially Norway based, but soon this investor base became international. In 2014, EV merged with Norway-based Progressus, as part of a repositioning to shift the focus to growth companies.

Now, I am the Managing Partner of EV Private Equity and have a deep passion for technology and its potential to improve society, the environment and wellbeing of people. By investing in the technologies that will decarbonise the energy sector, we’re assisting the world as it transitions to a low carbon future.

I especially enjoy working with the dedicated, high powered individuals in EV. All members of the team are self-starters with a strong drive to succeed. Furthermore, I really enjoy the fact that we have a very diverse team with nine nationalities among our employees.

My prior work experience includes working for BP as an executive advisor, for Amoco as a Strategic Planning Director and for Transocean as a drilling engineer.

I was also part of the strategic planning process for Valhall Electrification, the largest North Sea electrification project of its time. I oversaw economic analysis, strategic plans and government liaison to assist the completion of the project, which saves 375k tonnes of CO2e each year.

Education: MSc in Engineering from NTNU (NTH) and MBA from the University of Chicago Booth School of Business.

Board Member: Geoteric l Read Well Services Holding

Domain specialty: Carbon capture, utilisation and storage

Einar Gamman

Senior Partner

Stavanger

I was the third employee to join EV Private Equity during the second closing of our first fund in 2003. At EV, we have a strong culture and a broad competence span to handle bold technology moves. I have been given the opportunity to steward several such investments successfully through our value chain, from deal sourcing to exit.

Part of my responsibility as Senior Partner in EV Private Equity has been the creation of our Advisory Board. Since its inception in 2005, I have managed its composition of external industry experts and directed biannual forward looking strategic discussions.

I am passionate about sustainable energy technology and the positive impact it can have on the environment. I’ve found that disruptive development can have an affect on both financial and sustainability outcomes.

Using this drive for technology and impact investment, I spearheaded and created a conceptual methodology for documenting the positive impact stemming from investments in technologies focused on enabling reduced greenhouse gas emissions. As part of this, I managed the development of EV ́s proprietary greenhouse gas impact assessment tool, EV IQ (later spun-out and rebranded as xIQ).

Over the past few years, I have had the pleasure of directing strategic discussions and investment focus on the implementation of our impact strategy, which is focused on delivering financial returns while, in parallel, reducing greenhouse gas emissions.

I have enjoyed more than 35 years working in the energy industry, of which 20 years were spent in venture capital/private equity. Prior to joining EV, I held senior management positions in leading edge technology companies such as Tentech International, ABB Offshore Technology, later advancing into executive positions in JP Kenny and Smedvig Offshore and directorships in successful growth companies Reslink and Nature Technology Solutions.

Within the EV portfolio, I have been involved with several companies and multiple projects applying advanced sensing, software and fiber optics to measure properties, applying my digital expertise and knowledge to advance these transformative technologies.

Education:MBA from INSEAD and MSc. in Marine Engineering and Naval Architecture from NTNU.

Board Member: Cerues I ProSep l FourPhase

Domain specialities: Wind l Tidal l Green Shipping/Maritime Cleantech

Rune Jensen

Senior Partner

Stavanger

I joined EV in 2015 as Senior Partner. I have a particular interest in supporting leadership behaviours and capabilities as part of an overall strategy to create world-leading portfolio companies. In addition, I have had a functional lead role in EV with regards to the stewardship we offer to our portfolio companies. I enjoy the transformative growth and impact we can have through an active and close partnership with the executive teams and other Board Members.

I started my career with Statoil (now Equinor) back in 1981 as one of two employees covering all commercial aspects for Natural Gas Liquids. Building the global client portfolio, as well as being the Statoil representative in various kinds of transport and processing opportunities with other oil majors and international petrochemical companies, gave me a steep technical and commercial learning curve.

In 1987, I co-founded a financial services start-up which became a leading Norwegian player. I was proud to accept the position of CEO in 1990 at the age of 33, enjoying both the responsibility, influence and hard work that came with such a position.

I later became CEO of a global publishing house responsible for operations across ten countries, and successfully opened up two new countries before returning back to Norway after six years abroad.

As lead for the acquisition of Allianse, a software development consultancy and cloud services provider, I took the position of CEO. After a business turnaround, strong organic and structural growth, and IPO on the Oslo Stock Exchange, the company was picked up by a leading Norwegian IT player, returning 4.9x of capital invested.

I later established a private equity fund, Progressus, with local capital. During this time, I held the role of Chairman for videoconferencing company Viju, where we grew revenues from NOK 80 million to NOK 850 million during our 10-year ownership period. Viju, now Kinly, is a globally leading player that has transformed many workplaces by digitising communication processes. In 2015, Progressus joined forces with EV Private Equity, who were looking for growth investment professionals to build their team.

As the world transitions to net zero, I enjoy applying my traditional energy and digitalisation expertise to different sectors within the industry, particularly hydroelectricity. At EV, we are focused on accelerating the technologies that will help decarbonise the energy sector, and I am motivated by this shared vision.

Education: MSc in Finance from Norwegian School of Economics and Business Administration (NHH).

Board Member: Westwood Global Energy Group l Trainor Group l Add Energy l Safran Software Solutions

Domain speciality: Hydroelectricity

Greg Herrera

Senior Partner

UK

I joined EV as a Partner in 2006. Now, as Senior Partner, and head of EV’s UK office, my responsibilities range from overall strategic guidance and direction of UK staff, assessment of new investment opportunities, input towards stewardship and exit activity, through to active involvement across our portfolio. Within the EV partnership model I have been fortunate to work alongside many fantastic teams, both leading and exiting investments.

I am a highly networked and energised self-starter with a strong team and work ethic, which fits perfectly within EV’s philosophy and culture. My driving passion is around the intersection of the planet, people, technology and business.

EV’s experience in growing sustainable technology-led investments means we are uniquely positioned to help companies deliver higher quality, high growth businesses against a robust ESG agenda, which has a positive impact on society and the environment, while delivering superior returns to shareholders.

Our core investment focus is on greenhouse gas emissions reduction technologies, which means we are committed to helping the energy sector decarbonise and transition to net zero.

Within EV, I co-led our investment in Motive Offshore, a leading provider of solutions to the offshore wind, power and utilities markets; Halfwave, a firm offering innovative acoustic asset integrity inspection technology to deliver GHG reduction; and Cereus Downhole Technologies, a company developing an acoustic/software technology platform focused on well decommissioning.

Prior to joining EV, I gained eight years of experience in mergers and acquisitions in the energy sector, latterly with Simmons & Company International (now Piper Sandler). Prior to this, I gained 10 years’ energy industry experience working for a variety of technology equipment and service companies, including leading the sale of my family-owned downhole technology business.

Education: Bachelor of Engineering Technology from Robert Gordon’s University.

Board Member: Enhanced Well Technology l Motive Offshore l Cereus Downhole Tools l Romar l Deep Casing Tools

Domain speciality: Geothermal

Pelle Bildtsén

Chief Financial Officer

Stavanger

I joined EV Private Equity as CFO in 2004. Since then, I have been on an exciting international journey with a diverse group of highly motivated and talented people.

I am enthusiastic about broadening our investment strategy to include businesses that can achieve a tangible, positive impact in reducing greenhouse gases and countering global warming. The journey continues to support the ongoing energy transition.

Prior to joining EV Private Equity, I worked as an Advisor in Melberg Partners in Stavanger and as an Associate in Procuritas Partners in Stockholm.

Education: MSc in International Economics and Business from the Stockholm School of Economics, BA in Economics from Yale University and Certificat d’Etudes Politiques from Institut d’Etudes Politiques de Paris.

Tomas Hvamb

Senior Partner

UK

I joined EV in 2012 as a Senior Associate in the Aberdeen office. I was attracted to the role because it offered the opportunity to make a real impact on the environment, while developing companies with a hands-on approach.

When I joined the company, I was immediately brought onto a deal team working on a US transaction, in addition to getting exposure to most other parts of the private equity business.

A large part of my job is working alongside people with different skillsets and backgrounds. Being able to identify and assemble great teams is a key part of this job, both internally and in our portfolio companies.

In addition to my role, I sit on the board of five EV portfolio companies, three of which I have been working with from origination stage. Following a business from origination to exit path, working with fellow board members and management teams on growth strategy, M&A and exit planning, is the most exciting part of my job.

Within my role at EV, I’m currently leading an internal project aiming to enhance our digital capabilities, both across existing portfolio companies as well as in new investments. The aim is to create a robust process framework that captures business status, opportunities, and risk related to digital transformation.

I’m also pursuing relevant investment opportunities across new markets that will accelerate the energy transition including the development, construction and asset management of wind and solar projects, offshore floating wind technology, grid optimisation, and waste to energy technologies.

Prior to joining EV Private Equity, I was Vice President at Barclays in the leverage finance team covering oil and gas transactions in the UK. Before that, I spent a number of years with DNB in its structured finance team in Oslo, working on financing sponsor-backed deals across a variety of sectors and geographies.

Education:Executive MBA in Energy Management from BI Norwegian School of Management (Oslo), Bachelor of Applied Finance from Maquire University (Sydney).

Board Member:Westwood,Romar l Motive l Deep Casing Tools l Aquaterra

Domain specialty: Grid and storage

Espen Strøm

Senior Partner

Stavanger

I joined EV in 2008 as the only analyst covering the offices in Stavanger, Aberdeen and Houston. I experienced a steep learning curve as I worked closely with the senior team on new investment opportunities and existing portfolio companies.

As one of few with only a financial degree, I decided early on that I would dive deep into all the technologies we were commercialising to deepen my skills.

I am currently Head of Origination in our Norway office where my main tasks are to develop a rich pipeline of opportunities in the energy transition space, host weekly deal flow meetings and lead the investments process. This role allows me to see a large pool of interesting opportunities in various stages of development in an ever-evolving race towards a net zero world.

What I enjoy most about working in EV, besides the quality of the team, is the family-like culture. We have an open-door policy; we care about each other and we work hard to make sure that all the companies we invest in deliver on both financial and ESG targets. I have a passion for making an impact, and I truly believe that EV is already well on the way to becoming an internationally recognized leader in reducing greenhouse gas emissions.

I have been fortunate enough to spend four years in our Houston office, where I held the position of interim CEO for one of our portfolio companies. Whilst undertaking this role, we triggered the company’s transition from being a product-focused company, to a solutions-focused, environmentally conscious business by developing a strategy that would see the technology provide a solution to end users that increases production, whilst reducing methane emissions.

Prior to joining EV, I worked for ExxonMobil as a financial analyst. My two years with ExxonMobil provided great insight into how one of the largest energy companies in the world operates. I was able to work closely with all departments in order to analyse, project and present detailed financial information to asset managers for planning and decision-making purposes.

Education:MSc in Finance from Norwegian School of Economics and Business Administration (NHH), Certified European Financial Analyst (CEFA/AFA) from NHH.

Board Member: Rival Downhole Tools l Workover Solutions l Reach Production Solutions I WellConnection Group

Domain specialty: Carbon capture, utilisation and storage

Rajat Maheshwari

Investment Director

UK

I joined EV in 2015 and currently work as an Investment Director in the Aberdeen office. My responsibilities cover the full investment cycle including originating and executing new deals, working with our portfolio companies to help them grow and generate superior returns, and supporting exit processes. In addition, I spend a considerable amount of time networking with entrepreneurs, professionals and advisors to improve my perspective on the market.

EV is a fantastic place to work where I get to learn from talented peers, be creative, and partner with world-class companies that are on a mission to create a sustainable future. Work-life balance is emphasised at EV and the firm provides ample opportunities for you to grow.

I have been involved in the stewardship of a number of EV portfolio companies, including Fotech, a leader in distributed acoustic sensing technologies, which was exited to energy major BP in 2019. We supported Fotech to diversify its fibre-enabled software offering into markets such as smart cities, security, rail and pipelines. I enjoy helping companies evolve their technologies to expand into new markets, enabling them to assist the decarbonisation of various sectors.

Prior to joining EV, I worked at Schlumberger for over five years in global offshore seismic survey operations as a field geophysicist. I advanced my technical knowledge and gained hands on operational experience, which supports my current role when analysing technologies and business models of potential investments.

Education: MBA from HEC Paris, Integrated M.Sc. in Exploration Geophysics from Indian Institute of Technology Kharagpur.

Board Member: Geoteric

Domain specialties: Hydrogen l Geothermal

Lars Sund

Associate

Stavanger

LinkedIn

I joined EV Private Equity as an analyst-intern in January 2020. I continued to work part-time at EV while pursuing an MSc degree at the University of Nottingham during 2020/21 before starting as a full-time analyst in August 2021.

I am eager to take part in EV’s shift towards the energy transition space, and to be able to keep working with such a knowledgeable and resourceful team. Contributing to a cleaner and more sustainable future by encouraging and supporting the growth of emerging technologies greatly motivates me.

In my current role as Associate, I work closely with the deal team in the sourcing and screening new potential investment opportunities. This process includes everything from accessing a company’s ESG impact, to its financial and competitive position. I alsoconduct and lead valuations, and create fund-level financial analysis.

Education: MSc in Finance & Investments from the University of Nottingham, BA in Corporate Finance & Investments and International Finance from Merrimack College.

Craig McManus

Associate

UK

I joined EV Private Equity in May 2022 as a Senior Analyst in the UK team. My responsibilities span across the full investment lifecycle including deal origination, deal execution, portfolio management and supporting exit processes.

I was attracted to EV Private Equity’s positive purpose. EV has strengthened its focus on accelerating the energy transition to address the global challenge of climate change. EV Private Equity does not only aim to identify differentiated energy technology companies which can generate superior returns for investors, but insists that these companies must have the potential to enable emissions reductions in order to fit the criteria for investment. I am proud to be a part of EV Private Equity and contribute to a more sustainable future.

Prior to joining EV, I worked in the investments, pensions and savings industry for over four years at abrdn (formerly Standard Life Aberdeen plc) and latterly Phoenix Group in a variety of financial, commercial and strategic based roles.

Prior to that, I worked as an Intern at Piper Sandler (formerly Simmons & Company International), working on M&A lead advisory in the energy industry.

Education: Chartered Accountant with the Institute of Chartered Accountants of Scotland (ICAS), First Class Honours Degree in Accounting & Finance from Robert Gordon University and CFA UK Level 4 Certificate in Investment Management (IMC) holder.

Ellenor Twigden

Associate - Head of Impact

Stavanger

I joined EV Private Equity’s Stavanger office in January 2023 as a Senior Analyst.

Originally from London, I made the move to Stavanger only expecting to stay a couple of years. I quickly fell in love with the city and its proximity to nature, and decided to make Norway my home indefinitely.

Before moving to Stavanger, I worked in PwC’s London Region Assurance team where I qualified as a Chartered Accountant and worked with FTSE 350 and private clients.

This role at EV within energy technology excites me. The intersection between technological innovation, enhanced business performance and sustainable change is a combination that I am passionate about.

Education: ACA qualification from the Institute of Chartered Accountants in England and Wales (ICAEW), First Class MA (Hons) Degree in History from the University of Edinburgh.

Saige Andreychuk

Analyst

UK

I joined EV Private Equity as an Analyst-Intern in February 2022. During my internship, I worked closely with EV’s ESG team to produce the firm’s 2021 annual Sustainability Report – Energy Technology Investments for a Sustainable Future. Soon after the report’s completion, my role evolved and allowed me to start working across the full investment life cycle, and I was assigned as an Analyst to several of EV’s portfolio companies.

EV’s collaborative environment and focus on the energy transition space have created a positive, professional dynamic that I am attracted to. Working with the team engages in many aspects, and contributing to a more sustainable future through novel technologies is very gratifying.

In August of 2022, I accepted a full-time Analyst position where I continued to work across the full investment lifecycle. I have also been able to utilise my technical skills through EV’s digital initiatives, including assessing the digital maturity of portfolio companies and using digital to enhance workflow within EV.

Education:MSc in Control of Infectious Diseases at London School of Hygiene and Tropical Medicine (Merit), MSc in Medical Engineering and Physics at King’s College London (Distinction) and a BASc in Mechanical Engineering at Queen’s University Canada (Honours).

Jackie Burke

Senior Office Manager

UK

I have been Senior Office Manager at EV Private Equity’s Aberdeen office since 2008. I am company secretary for our UK entity and head up the EV Private Equity Charitable Initiative (EVCI). My responsibilities include finance, HR, health and safety, events and all administration for the Aberdeen office. I’m a pragmatic problem solver, a jack of all trades and can turn my hand to just about any task that the team needs.

I enjoy my position in a team that values my abilities and respects my opinions. Everyday can be different, and I have the privilege of working closely with our very talented UK team. I am excited by the direction the company is taking in supporting the ongoing energy transition, and being part of the solution in achieving greenhouse gas emission reduction through differentiated technology investments.

I particularly like the work/life balance I am able to maintain, which allows me plenty of time with my family (husband and dogs) and to participate in voluntary work.In October 2019, I travelled to Kenya with the Gathimba Edwards Foundation to build houses and I continue to fundraise back in Aberdeen. I am also the Treasurer for Stoneywood Scout Group.

Prior to joining EV I worked as a PA at Wood and Office Manager at Knowledge Reservoir.

Education: BA (Hons.) Business Studies from Robert Gordon University.

Michelle Opiana

Office Manager

Stavanger

I joined EV in 2012 and in addition to administrative duties, my role as Office Manager is to support the team, organise meetings and manage events.

I am proud to be part of an organisation that constantly strives to make a difference by accelerating the technologies that will be key decarbonising the energy sector. It is a pleasure to work with such a passionate, driven team. However, what I value the most at EV, is being part of a work family where we look after one another and only want the best for each other.

Before joining EV, I worked as a Facility Coordinator at Norske Shell.

Education: BA in Tourism Management from the University of Stavanger, BA Media Studies from NTNU.