Founded by Alf Bjørseth in 1987

Dr. Alf Bjørseth established Scatec Innovation AS (then Scatec AS) in 1987 as a holding company for his investments in companies and technologies he was involved in developing. Later, Scatec Innovation became a successful incubator of Alf’s technology ideas which so far has resulted in listed companies like REC ASA, Scatec ASA and Norsk Titanium AS.

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Picture of Alf Bjørseth
Dr. Alf Bjørseth

The intention to create added value from silicon inspired Dr. Alf Bjørseth to establish ScanWafer in 1994, a company that specialized in the production of multi-crystalline silicon wafers for the international solar industry. Later he started several companies related to solar energy; solar cells, modules and installation, all of which were assembled in Renewable Energy Corporation (REC). REC covered the whole value chain for solar energy and was a driving force in the global solar energy industry in the first decade of 2000.

Alf was President and CEO in REC from the onset. However, when REC decided to go public in 2005, Alf left REC to focus on entrepreneurial activities and further develop Scatec Innovation into a successful incubator of technology ideas as the foundation for new industrial adventures in renewable energy and advanced materials.

Through his unique entrepreneurship, Dr. Alf Bjørseth has established a number of vital businesses within the fields of renewable energy and advanced materials. Common for these companies is a technological foundation firmly rooted in research and technology. Alf himself uses every opportunity to communicate the importance of expert knowledge, often with his own Dr. Phil. in chemistry as example.

Common for these companies is a technological foundation firmly rooted in research and technology.

Scatec Innovation has now been turned into a family business. Alf has transferred ownership and control to his daughter, Tone Bjørseth-Andersen, and his three grandchildren through the holding company Alchemia Capital AS.


REC was listed on the Oslo Stock Exchange in 2006 and was at the time one of the largest solar energy companies in the world.

The independent solar power producer, Scatec ASA, (former Scatec Solar ASA) was listed on the Oslo Exchange in 2014. The company has since acquired SN Power and develops renewable energy projects worldwide.

Norsk Titanium AS was listed on the Euronext Growth in May 2021. The company has developed a 3D printing process for titanium and are producing advanced Ti-components primarily for the aviation industry.