ProVenture Seed II invest in qWave, a Stavanger based start-up.
qWave is developing a new method and tool for well formation perforating. By use of shock waves they utilize the same principles as used to remove kidney stones. ProVenture Seed II invests together with Validé Invest.
qWave has in addition secured LOOP funding from Statoil, and are currently working on downsizing the tool for testing.
Frederik Hvistendahl, Senior Partner in ProVenture is pleased to have closed the investment with qWave. “qWave is developing a tool we believe there will be multiple application areas for and a high market interest. Its value proposition is strong and we look forward to follow the company going forward.”