Key industries in Vestland
Whether it's the cutting-edge maritime industry, the dynamic energy sector, or the burgeoning technology and innovation landscape, Vestland offers a wealth of opportunities in sustainable and forward-thinking industries.
Vestland is renowned for its breathtaking natural landscapes, but can also offer and robust value chains with gaps to be filled.
Decarbonising the shipping industry
Vestland is home to a thriving maritime industry, which includes shipbuilding, marine engineering, and offshore services. The region's expertise in maritime technology, coupled with strong research and development (R&D) institutions, makes it an attractive destination for investors looking to capitalize on sustainable maritime solutions and innovations.
A governmental decision to cut Norwegian maritime emissions by 50 % creates a unique hub for innovative and future-based technology for zero-emission solutions for all vessel categories. The maritime sector is currently a frontrunner in international green transition of all maritime activities:
- Newbuilds, retrofits, and vessel upgrades
- Innovative propulsion systems – modern battery technology
- Green maritime fuels development: hydrogen, ammonia
- Carbon capture – both onshore and onboard ships
- Handling and transporting LNG
The region has severeal companies delivering state of the art technology, like this high-end carbon fibre fast ferry from Brødrene Aaa in Hyen. Photo: Børdrene Aa.
World-leading seafood industry
The pristine waters surrounding Vestland make it ideal for aquaculture and fisheries, sectors that are integral to both the regional and the national value creation. The region is one of the world’s largest producers of farmed salmon, known for its high quality and sustainable farming practices. his is a result of consolidated efforts toward driving the growth and development of the Norwegian aquaculture value chain. Investments in advanced aquaculture technologies, sustainable seafood production, and innovative feed solutions can yield significant returns.
Moreover, there is growing interest in developing more efficient and environmentally friendly fish farming practices, providing a fertile ground for investment.
The seafood industry in Vestland is one of the most tech-driven and digitalised globally. It is well-operated and offers intricate data sets relating to fish genetics, marine bio-conditions, fish mortality, disease, and medication.
The digitalisation of the aquaculture industry has also played an important role. Currently, big data is being used by several key farming operations in predicting algae and sea lice outbreaks. In addition, technology development for offshore fish pens (highly specialised aquaculture cages) is progressing. Nonetheless, the industry needs further development if it is to become more sustainable. There’s plenty of room for new thoughts and ideas, as well as for those with the drive to pursue them.
The region has excellent seafood value chains that are uniquely suited for companies that want to be a part of a more sustainable aquaculture industry.
Energy transition to renewables
Vestland plays a pivotal role in Norway's energy landscape. It is a leader in both traditional and renewable energy sources. The North Sea oil and gas fields, managed from Vestland, continue to be significant contributors to the economy.
Meanwhile, the region is also at the forefront of renewable energy developments, particularly in hydropower and wind energy. The energy companies operating along the Norwegian continental shelf are world leaders in low carbon emissions. Vestland's commitment to transitioning to green energy presents ample investment opportunities in renewable energy projects, energy storage solutions, and smart grid technologies.
Several ground-breaking projects in the region are underway with room for new companies along the supply chains for:
- Floating offshore wind (we are seeing increased interest in our industrial parks for assembling offshore wind modules and building offshore wind installations)
- Carbon Capture, Storage and Utilisation (CCSU)
- Converting natural gas to blue hydrogen (which is related to the Northern Lights project)
- Deep Sea minerals (exploration and extraction)
- Technology transfer from subsea oil and gas to other markets
Mongstad Industrial Park is a good example of how sites who used to serve the traditional oil and gas industry now are a part the impending energy transition. Photo: Helge Hansen
Industry 4.0
Vestland has a well-established manufacturing sector, particularly in machinery, metals, and chemicals. The region's manufacturing companies are known for their high standards and innovative approaches. Investment opportunities exist in advanced manufacturing technologies, process optimization, and sustainable manufacturing practices. The push towards Industry 4.0 and the integration of digital technologies into manufacturing processes are also key areas for potential investment.
The technology sector offers several business opportunities in digitalization and robotics. Photo: Silje K. Robinson.
The technology sector in Vestland is growing rapidly, with a focus on digitalization, artificial intelligence (AI), and robotics. The region boasts a strong network of tech companies, startups, and innovation clusters that collaborate closely with academic institutions like the University of Bergen. Investors can find opportunities in various tech-driven industries, including fintech, health tech, and industrial automation. The region's supportive ecosystem for innovation makes it an attractive location for tech investments.
Data centers
The data center industry is one of the fastest growing industries worldwide. The near-constant development of digital solutions and the society’s overall digital growth has created an increasing demand for data centers to handle the storage and processing of data.
Norway offers clean, green hydropower and Vestland has several sites perfect for building data centers.