Who we are

A visionary industrial investment company committed to a safe and sustainable future.

Who we are background

1984

Company founded

Umoe was founded in 1984 by Mr Jens Ulltveit-Moe as a shipping company, and then expanded into manufacturing and oil services, in part through the acquisition of lifeboat manufacturer Schat-Harding and the shipyard Haugesund Mekaniske Verft (renamed Umoe Oil & Gas).

2000

Expansion into new sectors

In 2000, Umoe sold Umoe Oil & Gas to ABB, and throughout the 2000s gradually expanded into new sectors and companies, partly through the acquisitions of Umoe Restaurants, Kverneland and PGS.

2010s

Renewable energy and clean technology

Umoe's transition towards renewable energies and clean technology began in full, through new acquisitions of the biofuels company Umoe Bioenergy in Brazil and the solar company REC Silicon, and by re-directing our portfolio companies towards opportunities linked to renewable energy and the global energy transition.

– The future does not belong to the largest, but to those who adapt the quickest.

Jens Ulltveit-Moe
Founder and Chairman of the Board

Who we are background
Jens Ulltveit-Moe is a distinguished Norwegian investor and business leader. He founded Umoe AS in 1984, growing it into one of Norway's largest privately owned companies.

Prior to this, he held roles at McKinsey & Company in New York and London, led the oil tanker division at SHV in the Netherlands, and spearheaded the turnaround of Knutsen OAS Shipping. Ulltveit-Moe holds a Master's degree in Business and Economics from the Norwegian School of Economics and a Master's in International Affairs from Columbia University. He has served as President of both the Norwegian Shipowners' Association and the Confederation of Norwegian Enterprise. Currently, he chairs the board of CICERO and sits on the board of the Environmental Defense Fund Europe. His leadership is defined by a commitment to innovation, sustainability, and long-term value creation.

Our people

Jostein Eiesland

Jostein Eiesland

Chief Executive Officer
jostein.Eiesland@umoe.com
+47 970 80 445

Work experience

Prior to joining Umoe in 2023, Jostein spent 15 years in industrial leadership roles with Yara International and Aker Solutions, after starting his career with McKinsey & Company.

Education

Jostein holds a degree (“Siviløkonom”) from the Norwegian School of Economics (NHH), a four-year program in economics and business administration.

Jason Park

Jason Park

Investment Director
jason.Park@umoe.com
+47 406 05 729

Work experience

Prior to joining Umoe in 2023, Jason was Vice President of M&A at Norsk Hydro. He previously worked in investment banking at Credit Suisse in New York for seven years and subsequently as CFO of an energy storage company with operations in the U.S., Europe and China. He also served two years with the U.S. Peace Corps in South America.

Education

Jason holds a BA from Georgetown University, an MBA from Duke University, and an MA in international relations from Johns Hopkins University (SAIS).

Peter Filip Meyn

Peter Filip Meyn

Investment Associate
peter.filip.meyn@umoe.com
+47 412 270 60

Work experience

Peter Filip Meyn joined Umoe in 2023 as an Investment Associate. Prior to his time at Umoe, Peter gained experience working as an investment analyst and portfolio manager at Anthon B Nilsen, where he was actively involved with managing Nordic equity mandates.

Education

Peter holds a Master of Science in Industrial Economics and Technology Management, which he earned from the Norwegian University of Science and Technology. During his studies, he also completed internships in SEB, Anthon B Nilsen and Anthon Eiendom.

Knud Dalaker

Knud Dalaker

Chief Accountant
knud.dalaker@umoe.com
+47 95 121 191

Work experience

Knud joined Umoe in 2000 and has held various positions in the company's finance and accounting department. Before joining Umoe, he worked as controller for the Color Air/Color Group, from 1998 to 2000, and as auditor with Arthur Andersen & Co, from 1992 to 1998. He is on the board of the majority of Umoe's real-estate companies.

Education

Knud holds a master’s degree and accounting and auditing from BI Norwegian Business School and is a Certified Public Auditor from the Norwegian School of Economics (NHH).

Julia Sheremeteva

Julia Sheremeteva

Chief Accountant
julia.sheremeteva@umoe.com
+47 906 11 671

Work and education

Julia joined Umoe in 2014 after graduating from the UiT The Arctic University of Norway in Narvik. She also studied at Handelshøyskolen BI from 2015 to 2017.

Julie Mjaaland

Julie Mjaaland

Office Manager
julie.mjaaland@umoe.com
+47 403 41 044

Work and education

Julie has been part of the Umoe team since 2024, after completing her bachelor's degree in Digital Communication and Marketing at BI Norwegian Business School. She currently supports Umoe with administrative tasks while pursuing her master’s degree in Organizational Psychology and Leadership at Kristiania University College.

Board of Directors

Jens Ulltveit-Moe

Jens Ulltveit-Moe

Founder and chairman of the board

Before establishing Umoe AS in 1984, Jens was a consultant with McKinsey in New York and London, before developing the oil tanker division of the SHV group in the Netherlands. He then headed the turnaround of the shipping company Knut Knutsen OAS from 1980. Jens is a former president of both the Norwegian Shipowners' Association and the Confederation of Norwegian Enterprises and is currently the chairman of the board of Cicero and serves as a board member of the Environmental Defense Fund Ltd. Europe. He holds a master's degree in Business and Economics from the Norwegian School of Economics (NHH) and a master's degree in International Affairs from Columbia University.

Ragnhild Kierulf Ulltveit-Moe

Ragnhild Kierulf Ulltveit-Moe

Board member

Ragnhild was elected to the board in 2001. She has worked for the United Nations Development Programme in China, for Umoe Bioenergy from 2009 to 2011 and for Umoe Restaurants, from 2012 to 2013. She worked as a political advisor at the Norwegian Parliament until 2022. Ragnhild holds bachelor's degree from the University of Bergen and the Norwegian School of Economics (NHH), and a master’s degree from the London School of Economics (LSE).

Jarle Roth

Jarle Roth

Board member

Jarle was elected to the board of Umoe in 2023, after having served as CEO of Umoe from 2019 to 2022. He has previously been the CEO of Arendals Fossekompani, and before that, the CEO of Export Credit Norway. He has also been the CEO of Unitor. He has previously been the board chairman of Norske Skog ASA, Enova SF, Glamox AS, Powel AS and EFD Induction AS, and a board member of Kongsberg Gruppen ASA, Ekornes ASA, Multiconsult AS, Kverneland ASA, Awilco Offshore ASA, Grieg Shipping AS, and Aibel AS. Jarle holds a graduate degree from the Norwegian School of Economics (NHH).

Karen Helene Ulltveit-Moe

Karen Helene Ulltveit-Moe

Board Member

Karen Helene was elected to the board in 2024. She is a professor of international economics at the University of Oslo and has served on the Executive Board of Norges Bank and held board positions in several companies, including Umoe Bioenergy and Kverneland ASA. Karen Helene has chaired multiple government-appointed commissions and advised the Norwegian government on economic policy and holds a PhD in economics from the Norwegian School of Economics (NHH).

Erik Sauar

Erik Sauar

Board member

Erik is currently the CEO of Cenate, and a board member of Zero, Differ, Fosera and Radionor. He was the CTO of REC from 2001 to 2012. Erik holds an M.Sc. in Chemical Engineering, an M.A. in Anthropology, and a Dr. Techn. degree in Physical Chemistry. He is also the inventor of more than 35 patents.

Øystein Kalleklev

Øystein Kalleklev

Board member

Øystein is currently the CEO of Flex LNG. He has previously been the CFO of Flex LNG, a director at Seatankers Management, and has also worked at Accenture, Umoe, and Clarksons Platou. Øystein holds an M.Sc. in Business and Administration from NHH, and a BA in Business and Finance from the Herriott-Watt University.

Agnes Ulltveit-Moe

Agnes Ulltveit-Moe

Board member

Agnes joined the board in 2023. She is currently pursuing an integrated Master’s degree in Computer Science at NTNU, with expected graduation in 2028.

Reports and presentations

Financial reports

Financial Statement 2024

Annual report

Financial Statement 2023

Annual report

Financial Statement 2022

Annual report

Financial Statement 2021

Annual report

Financial Statement 2020

Annual report
Transparency reports

Transparency report 2023

Annual Report