Companies · Other Energy

Tgs Asa

OSLO · Other Energy

Diligence memoA one-page analyst read on Tgs Asa — recommendation, valuation, rhythm, risks.
$24.4M
Total raised · real
5
Rounds
1.3×
Latest step-up
Top 18%
Sector rank · raised
Series A
Latest stage · inferred · Wed Nov 27 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Tgs Asa looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the energy sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.44× the median modeled value of Series A Other Energy companies in 2022–2024 (105 peers) — value vs value, same stage and era.
Quiet
  • Last raise 19 mo ago; this sector typically re-raises about every 12 months.
  • Slightly overdue versus sector cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Energy

Tgs Asa is one of 2048 Other Energy companies tracked from OSLO. By capital raised it ranks in the upper tier (ahead of 83% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
2024-11-27
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeed · 2016-07-01 Raised $3.2M (real) Modeled valuation $41M (est)$3.2M$41MSeed2016Series A · 2018-08-03 Raised $8.3M (real) Modeled valuation $87M (est)$8.3M$87MSeries A2018Series A · 2019-12-20 Raised $5.6M (real) Modeled valuation $59M (est)$5.6M$59MSeries A2019Series A · 2023-08-08 Raised $3.2M (real) Modeled valuation $16M (est)$3.2M$16MSeries A2023Series A · 2024-11-27 Raised $4.2M (real) Modeled valuation $15M (est)$4.2M$15MSeries A2024+$8.3M+$5.6M+$3.2M+$4.2MCumulative $24M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$3.2M · 2016
Series A$8.3M · 2018
Series A extension$5.6M · 2019
Series A extension$3.2M · 2023
Series A extension$4.2M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$14.9M
Base estimate est.
$5.5M
Conservative case
$29.3M
Upside case
$19.2M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Seed · modeled $41.1M · 2016-07-012016Series A · modeled $87.5M · 2018-08-03Series A · modeled $58.8M · 2019-12-20Series A · modeled $15.7M · 2023-08-08Series A · modeled $14.9M · 2024-11-272024
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.28×/yr
Annual markup
1.61×/yr upside case
1.6 yr
Elapsed time used
1.6 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
25 mo
Avg between rounds
$2.9M/yr
Capital velocity
10.0 yr
On record since
2016
First round
5
Rounds on file
How it compares to the market

Benchmarked against 2048 companies in Other Energy. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 7.2× above median
This company$24.4M
Sector median$3.4M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.8× of median
This company$4.2M
Sector median$5.5M
Modeled value — vs sector median (estimate, all stages) 0.9× of median
This company$14.9M
Sector median$17.0M

Raised more than 83% of sector peers (real $). Modeled value above 46% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #86 of 105.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Versogen, Inc. · Series A Raised $14.5M · modeled $98.8M (est)Juhl Clean Energy Assets, Inc. · Series A Raised $19.2M · modeled $76.2M (est)UtilityAPI, Inc. · Series A Raised $11.0M · modeled $73.4M (est)Premier Uranium, Inc. · Series A Raised $10.0M · modeled $72.5M (est)Controlled Thermal Resources Holdings Inc. · Series A Raised $13.1M · modeled $71.3M (est)Panasol USA Holdings, LLC · Series A Raised $13.2M · modeled $69.6M (est)Renewables Emerging Markets LLC · Series A Raised $10.0M · modeled $69.1M (est)Eden GeoPower, Inc. · Series A Raised $12.6M · modeled $67.5M (est)Sunrock Distributed Generation Inc. · Series A Raised $10.0M · modeled $66.5M (est)Li3 Group, Inc. · Series A Raised $10.0M · modeled $65.6M (est)Tandem Pv, Inc. · Series A Raised $9.1M · modeled $65.1M (est)HelioCasa Corp · Series A Raised $10.0M · modeled $61.3M (est)Tgs Asa (this company) Raised $24.4M · modeled $14.9M (est)Tgs Asa
CompanyStageRaised · realValue · estvs peer med.
Versogen, Inc.Series A$14.5M$98.8M2.92×
Juhl Clean Energy Assets, Inc.Series A$19.2M$76.2M2.25×
UtilityAPI, Inc.Series A$11.0M$73.4M2.17×
Premier Uranium, Inc.Series A$10.0M$72.5M2.14×
Controlled Thermal Resources Holdings Inc.Series A$13.1M$71.3M2.11×
Panasol USA Holdings, LLCSeries A$13.2M$69.6M2.06×
Renewables Emerging Markets LLCSeries A$10.0M$69.1M2.04×
Eden GeoPower, Inc.Series A$12.6M$67.5M1.99×
Sunrock Distributed Generation Inc.Series A$10.0M$66.5M1.97×
Li3 Group, Inc.Series A$10.0M$65.6M1.94×
Tandem Pv, Inc.Series A$9.1M$65.1M1.92×
HelioCasa CorpSeries A$10.0M$61.3M1.81×
Tgs Asa this companySeries A$24.4M$14.9M0.44×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$3.2M2016-07-01$15.8M$41.1M85%
Series A$8.3M2018-08-03$37.6M$87.5M90%
Series A$5.6M2019-12-20$25.3M$58.8M90%
Series A$3.2M2023-08-08$14.6M$15.7M90%
Series A$4.2M2024-11-27$19.2M$14.9M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$3.2M2016-07-01
    • First recorded raise — entered as Seed.
  2. Series A$8.3M2018-08-03
    • Raised again after 25 mo — slower than the ~12 mo sector norm.
    • Round 2.6× larger than the prior — scaling up.
  3. Series A$5.6M2019-12-20
    • Raised 17 mo later, in step with the ~12 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
  4. Series A$3.2M2023-08-08
    • Raised again after 44 mo — slower than the ~12 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
  5. Series A$4.2M2024-11-27
    • Raised 16 mo later, in step with the ~12 mo sector norm.
    • Round 1.3× larger than the prior — scaling up.
Intelligence
2027 ~Q1
Modeled next raise · ~25mo cadence
$5.5M
Modeled next size est.range $4.2M$8.8M
1.3×
Last step-up
$2.9M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
HENRY H HAMILTON III2 other2016-07
Anne Grethe Dalane2024-11
Bettina Bachmann2023-08
Bettina Harald Bachmann2024-11
Carel Borre Hooijkaas2024-11
Carel Hooijkaas2023-08
Christopher Borre Finlayson2024-11
Christopher Finlayson2023-08
Christopher H. Finlayson2019-12
David Borre Hajovsky2024-11
David Hajovsky2023-08
Dean Zuzic2019-12
ELISABETH H GRIEG2016-07
ELISABETH H HARSTAD2016-07
Emeliana Harald Rice-Oxley2024-11
Erik Finnstrom2018-08
FREDRIK A AMUNDSEN2016-07
Fredrik Amundsen2018-08
Grethe Moen2023-08
Irene Egset2023-08
Irene H. Egset2019-12
Jan Schoolmeesters2019-12
JOHN A ADAMICK2016-07
Josef Heim2023-08
Registry & provenance

Tgs Asa is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1403840
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
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Simpa Networks, Inc.Other EnergySeries A$20.5M$11.1Msame sector · same stage
Starfire Energy IncOther EnergySeries A$18.9M$13.4Msame sector · same stage
Sunverge Energy, Inc.Other EnergySeries A$33.3M$10.6Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Terrestrial Energy Inc.Other EnergySeries B$112.6M80%
Universal Energy Inc.Other EnergyPre-Seed$2.9M80%
TPE LtdOther EnergySeries A$132.0M80%
Otovo ASAOther EnergySeries A$36.1M80%
Sngmm, LlcOther EnergySeed$7.5M80%
SEG Magnetics, Inc.Other EnergyPre-Seed$5.8M80%
UGE International Ltd.Other EnergySeed$2.3M79%
XGS Energy, Inc.Other EnergySeries A$44.2M79%
Frequently asked
How much funding has Tgs Asa raised?
Tgs Asa has raised approximately $24.4M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Tgs Asa's estimated valuation?
Provath's modeled valuation for Tgs Asa is approximately $14.9M (modeled range $5.5M–$29.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Tgs Asa at?
Tgs Asa's latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Nov 27.
What does Tgs Asa do and where is it based?
Tgs Asa operates in the Other Energy sector, based in OSLO.
Explore related

See where Tgs Asa sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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