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IRIS Commercialisation

The value of the portfolio companies at IRIS Forskningsinvest AS continued to grow strongly in 2015. The balance sheet value of associated companies increased from NOK 59 million in 2014 to NOK 62 million in 2015. This increase was mainly connected to shareholdings in Calysta Inc, a company based in Silicon Valley outside San Francisco. Calysta is heavily involved in the production of bio protein for fish feed. The technology was developed in Norway and is based on the fermentation of natural gas or biogas. In 2015 the company had two share issues to existing and new shareholders totalling USD 40 million. There are now concrete plans for the full-scale production of bio protein.
 
In 2015, the company Sekal AS changed its business concept to being a technology provider and only performing services to a limited extent. Several oil companies are now starting to use DrillScene for monitoring and diagnosis of drilling operations, and this is being done in partnership with international oil service companies. The users are increasingly reporting considerably improved efficiency in their well projects.

The company BiotaGuard AS had to go into bankruptcy in 2015. The market for their marine environment monitoring technology has always been difficult, which was aggravated by the market situation in the oil industry. This situation is also affecting the commercialisation of R&D more generally. This applies specially to projects that are dependent on industry support.
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