OSC raises capital to further develop world-leading simulation technology
Offshore Simulation Center (OSC) is an Ålesund-based company specializing in virtual prototyping and digital twins for offshore, renewable energy, and digital smart cities. The company is now raising capital from a strategic consortium of investors to realize ambitious growth plans for OSC and its subsidiary, Augment City. The recent capital injection was carried out with investors Momentum, Eviny Ventures, Skagerak Capital, OBOS BBL, and Construct Venture.
- The solutions for smart cities are growing, and OSC and Augment City are collaborating with cities and companies in Norway, the UK, and the USA. Here, visualization and simulation are used to accelerate design and planning processes, reduce risk, and engage the population to make more climate-friendly choices, says Joel Mills, CEO of OSC.
The company originally developed solutions for the oil and gas sector. In recent years, the company has expanded its business to include solutions for renewable energy and smart cities with great ambition within sustainability. Equinor uses OSC's solutions in designing offshore wind farms off New York. The core of the company's technology is virtual prototypes and digital copies of physical systems.
- The capital injection makes it possible to realize our ambitious growth plans within the Smart Cities segment. The company seeks skilled technologists who will contribute to building the company further, both nationally and internationally, says Mills.
The solution is offered as Software as a Service (SaaS). By using existing data, the solution can simulate how choices, for example, energy sources and transportation methods, affect residential areas and traffic flow. The solution thus provides a better decision-making basis for making good and sustainable choices.
OSC has already entered into agreements with New York and several cities in the USA to realize their zero strategy by 2030. The client list includes DEME, Jan De Nul, RWE, EDF, and Equinor.