Season`s greetings

As everyone is preparing for the festive Christmas season, I would like to reflect on my first year as the CEO of Nicoustic. We have had both ups and downs during 2024, as most start-ups do, but we definitely finish this year on a very positive note!

First of all, I would like to acknowledge the Nicoustic Dream Team that has worked so hard towards our goals this year. Employees, consultants, the Technical Advisory Board and the Board have all made an extraordinary contribution. They also ensured informal and positive atmosphere at our workplace. This is important, since we spend so big part of our life at work, but it also ensures the company functions smoothly and we can concentrate on achieving results.

Secondly, I would like to thank all our connections established so far – our partners and suppliers. Good partnerships at this early stage of the company are extremely important. Some of these partners will become our first customers when we enter the commercial phase. Some, such as Trondheim Engineering, SINTEF and Fraunhofer IKTS, will continue to support our growth. Others, such as CoFounder, will guide us as we grow while some will reap the rewards of their investments.

In Nicoustic, we live by our company values:

These values illustrate our commitment to achieve results quickly and efficiently, as start-ups do, while at the same time utilizing the team`s experience from offshore projects to deliver results on time and budget. This winning combination is what allows us to move swiftly, at the same time strictly sticking to the plan – something most start-ups struggle with.

Finally, I would like to list some of the Nicoustic achievements during 2024:

• Successful initiation of our Joint Industry Project (JIP) with 6 operator company partners (Equinor, ConocoPhillips, OKEA, Aker BP, Vår Energi and Petrobras).
• Successful installation of a prototype measurement system on the Snorre A offshore platform (Equinor) – on budget, on time and without any incidents!
• Presentations at 8 technical conferences and workshops, witnessing about our commitment to dissemination of knowledge to the technical community.
• Winning funding from RFF Trøndelag (the regional Research Fund in the Trøndelag county) for a pre-project where we explore using Artificial Intelligence for signal processing purposes.
• Appointment of Leiv Låte, a seasoned executive now with Aker Solutions, as a chair of our board.
• Exhibiting at our first ONS, which attracted a lot of attention to our stand at the Innovation Pavilion by the Research Council of Norway.

Below is the picture from our first physical JIP workshop in Trondheim in October. It shows what I enjoy most to see in a growing company – spirit of collaboration, knowledge creation and positive attitude! This is how we will continue into 2025.

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