Diligence memo · auto-generated · as of July 2, 2026
Tgs Asa
Tgs Asa looks under-valued against its niche peers and is quiet on financing cadence.
Businessfiled
Tgs Asa operates in Other Energy, based in OSLO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Tgs Asa has raised $24M in disclosed capital across 5 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $8.3M on 2018-08-03.
Most recent recorded round closed around 2024-11-27.
Valuation (modeled)modeled
Provath models Tgs Asa at approximately $15M (range $5.5M–$29M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: 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.
Financing rhythm & timingmixed
Historic cadence: a new round about every 25 months.
Last raise 19 mo ago; this sector typically re-raises about every 12 months.
Slightly overdue versus sector cadence.
The last round stepped up 1.3× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 83% of Other Energy peers (2049 compared).
Modeled value ranks above 47% of those peers.
Closest niche peers: Versogen, Inc., Juhl Clean Energy Assets, Inc., UtilityAPI, Inc., Premier Uranium, Inc., Controlled Thermal Resources Holdings Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.