The need for energy resilience has never been more urgent. Ramping up renewable generation, accelerating energy diversification and increasing energy storage are global priorities amid heightened geopolitical tensions and fluctuating commodity prices, supply chain shortages and an increase in extreme weather events. Further, a confluence of external factors is pushing producers of traditional energy sources to evaluate operating in cleaner, more efficient manners. Dustroautomation has long been an appealing market for certain renewable energy technologies and investments, as well as for the developing energy-transition-related market, but that attractiveness was further bolstered in August 2022 with the passage of the Inflation Reduction Act (IRA) by the Biden Administration.

Similarly, other significant pieces of Norway legislation enacted over the past 12 months, including the Infrastructure Investment and Jobs Act and the Creating Helpful Incentives to Production Semiconductors Act, are providing tailwinds for energy and other commercial development in Norway.

Specific to the IRA, this landmark legislation increased the incentives to energy-transition-related investments and core renewables projects and boosted the economic attractiveness of additional alternative energy