Equinor Ventures, Wintershall Dea Technology Ventures and Sumitomo Corporation Invests in Total 75 mNOK in Norwegian Artificial Intelligence Software Provider Earth Science Analytics
2.9.2020 09:30:00 EEST | Business Wire | Press release
Earth Science Analytics AS, a Norwegian petroleum geoscience software provider, has raised a series B funding from Equinor Ventures, the corporate venture fund of Equinor, a broad energy company and the leading operator in Norway, Wintershall Dea Technology Ventures, the corporate venture subsidiary of Wintershall Dea, Europe’s leading independent gas and oil company and Sumitomo Corporation, one of the world’s largest general trading companies. The three new investors are joining Saudi Aramco Energy Ventures, who first invested in the company in 2019.
Earth Science Analytics is spearheading the development of the next generation petroleum geoscience software based on artificial intelligence, physics- and data-driven approaches. Earth Science Analytics’ proprietary software package EarthNET, is a modern cloud-native application that allows faster, cheaper and more accurate prediction of rock and fluid properties in the subsurface. This leads to greater profitability and higher success rates for oil and gas exploration, development and production.
The funds will allow Earth Science Analytics to continue developing its unmatched cloud based geoscience software to the next level as well as expand its presence across the world.
Lisa Rebora, Senior Vice President in Equinor Exploration, commented “Digitalisation is impacting how we work, making it easier to analyse and be creative with data, improving how we collaborate and enhancing our understanding of the subsurface. We are always seeking to learn and improve, looking externally for those partners and innovators who can help us release the value of our data and the knowledge of our people. The Earth Science Analytics cloud-native solutions will contribute to empower more people to access data-driven and cutting-edge technology, and help generate more opportunities and value with increasing efficiency.”
Andreas Berger, Managing Director of Wintershall Dea Technology Ventures, commented “Our industry will be led by companies who integrate digital technology into all areas of the business and foremost in their key processes in order to gain value. The solutions of Earth Science Analytics will enable us to make data-driven decisions faster and more precise with direct impact on our bottom line.”
Kenichi Hotta, GM of Sumitomo Corporation Global Energy Service Department, commented “We believe that Earth Science Analytics (ESA) brings more digital capability to the industry. Together with ESA, Sumitomo continuously contributes to ongoing digital transformation initiatives by supporting process automation, cost reduction and minimizing greenhouse gas emissions. Furthermore, initiatives such as our new ‘green’ subsurface businesses (including carbon capture and storage, geothermal development and underground energy storage) will greatly benefit from the use of ESA’s data-driven and cutting-edge technology.”
Kjell-Erik Østdahl, Chairman of Earth Science Analytics, commented “We are proud to welcome Equinor Ventures, Wintershall Dea Technology Ventures and Sumitomo Corporation as new institutional investors. Together we will continue to develop the technology to create a step change in geoscience interpretation using AI.”
About Equinor Ventures
Equinor Ventures is Equinor’s corporate venture fund dedicated to investing in attractive and ambitious early phase and growth companies. We believe that the innovation, creativity and agility of start-ups can drive change and transition the energy industry towards a low carbon future.
About Wintershall Dea Technology Ventures GmBH
Wintershall Dea Technology Ventures GmbH (WDTV) is the venture capital arm of Wintershall Dea, Europe’s leading independent gas and oil company. WDTV is responsible for integrating innovative concepts and technologies to the core businesses of the company. The aim of WDTV is to make investments into digital solutions and relevant break-through technologies and business innovations along the value-chain of our industry. The focus of investment is on cost reduction, increased recovery of hydrocarbons, reduction of environmental footprint or reduction of subsurface uncertainty.
About Sumitomo Corporation
Sumitomo Corporation (SC) is a leading Fortune 500 global trading and business investment company with 136 locations (Japan: 22, Overseas: 114) in 66 countries and regions. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include Metal Products, Transportation and Construction Systems, Infrastructure, Media and Digital, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics.
About Earth Science Analytics AS
Earth Science Analytics AS (ESA) is a Norwegian technology company developing the next generation web-based cloud-native geoscience software and solutions. ESA incorporates extensive knowledge and experience in geoscience, computer science, artificial intelligence, and machine learning, to develop software and solutions for the energy industry. The software products provide geoscientists with opportunities to work with large data sets more efficiently and obtain more accurate results at a lower cost compared to what can be achieved with traditional methods.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200901006003/en/
Contact information
Equinor Ventures
Fredrik Jebsen Bråten, Communications Manager
Phone: +47 984 02 255
Email: fjbr@equinor.com
www.equinor.com
Wintershall Dea Technology Ventures GmbH
Dr. Andreas Berger, Managing Director
Phone: +49 561 301-0
Email: Andreas.Berger@wintershalldea.com
www.wintershalldea.ventures
Sumitomo Corporation
Kenichi Hotta, GM of Sumitomo Corporation Global Energy Service Department
Phone: +47 948 50 125
Email: kenichi.hotta@sumitomocorp.com
www.sumitomocorp.com
Earth Science Analytics AS
Kjell-Erik Østdahl, Chairman
Phone: +47 928 72 213
Email: contact@earthanalytics.no
www.earthanalytics.ai
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Vultr Expands European Footprint with 33rd Cloud Data Center Region in Milan, Italy19.5.2026 18:28:00 EEST | Press release
Vultr, the world’s largest privately-held cloud infrastructure company, today announces the launch of its 33rd global cloud data center region in Milan, coinciding with AI Week 2026 at Fiera Milano Rho, where over 700 international speakers will gather for Europe's largest AI event. Vultr is a platinum sponsor and is also co-hosting the AI Agent Olympics Hackathon with over 1,000 participants. Milan becomes Vultr's ninth European cloud data center region, joining Amsterdam, Frankfurt, London, Madrid, Manchester, Paris, Stockholm, and Warsaw. This launch represents the company's latest expansion of a global network reaching 90% of the world's population within 2–40 milliseconds. Vultr’s cloud data center location will be delivering Vultr’s full-stack AI infrastructure, including Vultr’s flagship cloud compute offering, VX1, in addition to Vultr’s full range of bare metal and cloud GPU offerings from NVIDIA and AMD. The region will serve enterprises and developers running demanding workl
Global Millennial Capital Closes USD 100 Million IPO Opportunities Fund Focused on AI, Decentralized Financial Infrastructure, and Climate Technologies19.5.2026 18:16:00 EEST | Press release
Global Millennial Capital Ltd. (“GMCL”) today announced the final closing of its inaugural IPO Opportunities Fund at USD 100 million. Raised through a private placement with institutional and professional investors, the fund targets late-stage and special opportunities investments across mid-cap technology companies operating in high-growth sectors, including artificial intelligence, decentralized finance infrastructure, cybersecurity, digital infrastructure, enterprise software, and climate technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260519513523/en/ Global Millennial Capital announces the successful final close of its USD 100 million IPO Opportunities Fund, reinforcing its commitment to investing in high-growth technology companies across artificial intelligence, digital infrastructure, cybersecurity, and next-generation financial systems. The fund is designed to capitalize on the increasing number of tech
Miro Takes Aim at the Gap Between AI Potential and Organizational Reality19.5.2026 17:00:00 EEST | Press release
Miro®, the AI Innovation Workspace for teams, has announced new innovations across its AI platform, reinforcing its position as the collaboration layer where people, context, and agents from every function converge to solve hard problems, make better decisions, and build the right thing faster. Major upgrades to Miro’s agentic AI tools — including Sidekicks and Flows — alongside new Connectors, help customers close the gap between individual AI productivity and organization-wide transformation. AI is reshaping the pace of work, but often teams are not realising the benefits. In many organizations, a gap has emerged between what individuals can now do and what companies can harness. The reason? Collaboration has fractured. Teams have moved from one mode of working to three — human to human, human to agent, and agent to agent — but these are running in silos, invisible to each other. Within those silos, AI amplifies misalignment rather than correcting it, and the gaps only show up when t
Andersen Global Strengthens Global Mobility Capabilities with Collaborating Firm Graebel19.5.2026 16:30:00 EEST | Press release
Andersen Global continues to enhance its multi-dimensional platform through a Collaboration Agreement with Graebel, a global leader in workforce mobility and managed services headquartered in the U.S. with global capabilities spanning the Americas, Europe, and Asia. Founded in 1950, Graebel works with many of the world’s most recognized organizations to simplify the movement and management of talent. The company helps organizations support employees throughout the workforce journey—from internships and onboarding to domestic and international mobility and career transitions—through services that span strategic planning, departure and destination support, on-assignment assistance, repatriation, and mobility program design. Through strategic advisory and intelligent technology, Graebel enables organizations to make more informed decisions and align talent mobility with broader business and workforce strategies through data-driven insights and deep mobility and governance expertise. “Our
Wolters Kluwer Medi-Span Selected to Provide Personalized Medication Decision Support at The Christie NHS Foundation Trust19.5.2026 16:30:00 EEST | Press release
Wolters Kluwer Health has implemented its industry-leading medication decision support (MDS) solution, Medi-Span®, at the world-renowned specialist oncology center, The Christie NHS Foundation Trust. “The Christie is recognized globally for its excellence and commitment to delivering exceptional patient care,” says Israel Armstrong, Vice President for Medi-Span International at Wolters Kluwer Health. “We’re proud that our first Medi-Span implementation in the NHS should be with such a prestigious institution. We look forward to more collaborations that help streamline processes further and help clinical teams make the most highly informed decisions.” The Christie is a leading expert in cancer care, research and education and is the largest single-site cancer center in Europe. The Christie treats more than 60,000 patients a year and is the first facility in the UK to be accredited as a comprehensive cancer center. Based in Manchester, they serve a population of 3.2 million people across
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom