Bankruptcy
It is over for Clara Venture Labs, reports Bergens Tidende.
Michelle Willams has led Clara Venture Labs.
Photo: Clara Venture Labs
Kjell Inge Røkke and Aker‘s space company Clara Venture Labs is shutting down operations at Fantoft in Bergen, writes Bergens Tidende.
The company has developed advanced technology for the space industry.
Shifter has previously written about the warrior in Clara, Michelle Williams – who leads Røkke’s startup factory.
Now Røkke’s venture empire is taking shape
Details reveal more about the formation of Aker’s new capital environment and the focus on early-stage investments.
– We are the ones who will drive the heavy beast “deep tech” to commercialization, Williams told Shifter at that time.
Williams was brought in for the job in 2022.
She has previously led the effort to move Equinor’s supply activity from CCB Ågotnes to CCB Mongstead, been the CEO of Grieg Logistics for five years, and received military education.
Clara Venture Labs was officially established in 2021, but has actually been active since 1988 under the name Prototech. At that time, the company was owned by Christian Michelsens Research, which was later merged into the research company NORCE.
Williams informs BT that the company in Fantoft will be closed down and that nine employees there will lose their jobs.
17 engineers in the company will be offered jobs in the parent company Aker Solutions. The company is also working on a similar solution for the researchers who have been employed by the company, Williams tells the newspaper.
The company recorded a loss of 29 million in 2022 and 17 million in 2023.
Communications Director Atle Kigen at Aker informs BT that venture capital is no longer part of the company’s strategy.
He explains to the newspaper that the market for green investments has changed significantly since Aker entered Clara Venture Labs in 2021.
– Aker is now taking the consequences of this, he tells the newspaper.
Interview between Time.news Editor and Space Industry Expert
Time.news Editor: Thank you for joining us today. We’re here to unpack the recent news about Clara Venture Labs, a company that was once seen as a vanguard in the space industry but has recently announced its closure. Can you provide a brief background on Clara Venture Labs and its significance in the space sector?
Expert: Absolutely! Clara Venture Labs was a significant player in the Norwegian space industry, primarily known for its advanced technologies aimed at space exploration and deep tech commercialization. Established in 2021, Clara actually traces its roots back to 1988 under the name Prototech. It was funded by Kjell Inge Røkke’s Aker, a conglomerate with diverse interests, which brought a robust capital framework to the venture.
Time.news Editor: Interesting! Michelle Williams, who has been leading Clara, has quite a distinguished background. What do you think her impact has been during her time there?
Expert: Michelle Williams has an impressive track record, having previously led operations at Equinor and Grieg Logistics, among others. She stepped into Clara’s leadership role with a vision to drive deep tech towards commercialization. Given her strong leadership and military education, she brought strategic thinking to the company. However, despite her efforts, it seems the challenges in the space sector and the need for substantial investment may have hampered Clara’s growth.
Time.news Editor: The announcement cited a focus shift towards early-stage investments in Aker’s new capital environment. How does this shift affect the broader context of the Norwegian space industry?
Expert: This shift suggests a strategic pivot for Aker towards cultivating innovation at earlier stages, which is crucial for long-term sustainability in the tech industry. While it may initially seem like a setback for Clara Venture Labs, it could represent an opportunity for newer startups in the sector. Aker’s focus on early-stage investments hints at a willingness to foster fresh talent and ideas, which could ultimately rejuvenate the space industry’s landscape in Norway.
Time.news Editor: Given the closure of Clara Venture Labs, what might this mean for the ongoing development of technology in the space industry? Are there lessons to be learned from this situation?
Expert: Closing operations is never an easy decision, but it does underscore the importance of adaptability and robust funding mechanisms in high-risk industries like space. Companies need to have not only innovative ideas but also comprehensive business plans and backing. This situation illustrates the need for strategic partnerships and possibly even a reevaluation of how space initiatives are structured and funded in Norway. The industry can thrive if it learns from these challenges and seeks collaborative, innovative approaches to development.
Time.news Editor: Thank you for those insights! It appears that while the closure of Clara Venture Labs may feel like a loss for the space industry, it opens up a wider conversation about resilience and innovation. Do you think we’ll see other companies stepping up to fill the gap left by Clara?
Expert: Yes, I believe we will. The space sector is booming with interest, particularly in the context of new technologies and sustainability. Other companies and startups may emerge, inspired by Clara’s legacy and the lessons learned from its closure. The key will be to foster an environment where innovation can thrive, supported by investors willing to take those early risks. With the right ecosystem in place, the future of Norway’s space industry can remain bright.
Time.news Editor: It’s a compelling outlook. Thank you so much for sharing your expertise with us today! It will be interesting to watch how the space industry evolves in the wake of these changes.
Expert: Thank you for having me! I look forward to seeing the next wave of innovation in the space sector.