STAVANGER, Norway, June 24, 2026 (GLOBE NEWSWIRE) — EQON, a Norwegian technology company transforming industrial heating efficiency, today announced the close of a $6 million seed round to accelerate international growth and product commercialization. Azolla Ventures led the funding round, which was co-led by Wilstar Innovate and included participation from Climentum Capital and Gain Venture Capital.
Heating cables are widely used by industrial operators, property owners and municipalities for snow and ice removal. EQON’s technology makes them economically and environmentally viable for numerous other applications, including process heating for food and chemical production, frost protection on ships, rigs and offshore assets, railway points heating and any other electrical resistive heat load. The seed round will enable EQON to scale its patented heating cable management technology and expand its commercial presence in key global markets. This includes the United States, where growing pressure on power infrastructure, electrification and decarbonization are creating strong demand for energy optimization.