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TGS Acquires Prediktor

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OSLO, Norway (1 July) – TGS ASA ("TGS"), a global provider of energy data and intelligence, announced today that it has acquired Prediktor AS ("Prediktor"), a leading provider of asset management and real-time data management solutions to renewable and energy asset owners.

Established in 1995, the company has carried out thousands of installations on mission-critical industrial and energy assets on all seven continents, enabling data-driven automated operations solutions and optimization of asset portfolios.

Prediktor’s software and systems are being utilized on a large variety of assets, including:

  • Benban (Egypt), the world’s largest PV solar plant, built in 2019;
  • Dogger Bank (UK), the world’s largest offshore wind farm, currently under construction;
  • Johan Sverdrup oil field (Norway) delivery in 2019, one of the world’s largest offshore oil & gas assets developed in recent times;

Based in Fredrikstad, Norway, with 40 employees, Prediktor counts some of the world’s leading renewable energy producers among its clients. The company currently supports 7 GW of renewable energy assets (mainly PV solar), with a solid pipeline of further installations. The asset management solutions help clients manage operational risks and optimize asset performance by monitoring projects, forecasting energy production, recommending actions and automating decision-making.

Prediktor also provides data management applications that organize Industrial Internet of Things sensor data (IIoT), helping clients capture, validate, store and contextualize real-time data. Globally leading energy and industrial companies are among Prediktor’s data management customers.

Kristian Johansen, CEO at TGS, commented: "I am very pleased to announce the acquisition of Prediktor. The company has an impressive track record of providing cutting-edge data-driven solutions and superior customer service to energy companies worldwide – a cultural fit with TGS. In February 2021, we introduced our New Energy Solutions initiative, which provides data and insights for industries actively contributing to reducing greenhouse gas emissions. Since then, we have launched several organically-developed data-driven solutions for offshore wind, geothermal energy and carbon storage, as well as acquired offshore wind market intelligence provider 4C Offshore, Ltd. Prediktor will become another important building block for realizing our vision of creating an energy industry gateway providing integrated solutions for data and actionable insights to facilitate decision making, project development and asset performance management across energy project life cycles and markets.”

Espen Krogh, CEO of Prediktor adds: “Prediktor has through the past 27 years attracted unique talent in the field of industrial digitalization, crafting unique and innovative products and services for our clients. The last couple of years we have expanded our focus on the Energy Transition, driven by the high customer demand for our deep industrial experience and field proven products in this rapidly growing segment.

We are currently in a unique phase of industrial energy asset building of wind and solar assets at a vast global scale. Prediktor’s biggest challenge is the ability to scale fast enough in all our business processes to deliver to our clients’ ambitious pipeline. In TGS, we see the vision, resources, agile-get-the-job-done culture and infrastructure to meet this challenge: TGS is the perfect new home for Prediktor.”

About TGS
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

About Prediktor
Prediktor is a leading provider of asset management and real-time data management solutions to renewable- and energy asset owners. The Company uses decades of experience with industrial digitalization to enable its clients with data-driven operations and optimization of their asset portfolios. Prediktor automates asset management of portfolios using expertise in advanced prediction models and delivers future-proof solutions and no vendor lock-in with adherence to digital standards.

Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices.  Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

For more information, visit TGS.com or contact:

Sven Børre Larsen
Chief Financial Officer
investor@tgs.com

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