Founder Profiles: Jørgen Selnes, Alva Industries
Founder of Alva Industries - Jørgen Selnes. Photo: Private.
Alva has developed FiberPrinting™, a patented production technology for the core component in electric motors. The unique technology revolutionises the way electric motors can be designed and produced, introducing a new benchmark for custom motor development and time-to-market.
Company: Alva Industries
Founded: 2016
Employees (as of 2023): 40
Capital raised (as of 2023): NOK 200m
Location: Fossegrenda 1
Interviewee: Jørgen Selnes, founder & CEO
What’s your background?
I studied Applied Physics and Mathematics at NTNU. Later, I went to the School of Entrepreneurship and specialized in Technical Physics. Before I started Alva, I worked in kindergartens, grocery stores, and a moving agency in Trondheim.
Trondheim has been a great place to develop our company. We have easy access to great competence from NTNU students and relevant technological companies.
- Jørgen Selnes
Why did you launch your startup?
In the 4th year of NTNU’s School of Entrepreneurship, you are challenged to start a company. I remember how amazed I was by all the ambitious people I met there, and it drove me to be ambitious myself. We knew we wanted to do something technically challenging with “high risk, and high reward,” and were intrigued by the huge market for electric motors and the many great opportunities within it. Our goal was to find a new production method that was patentable, automatable, and would improve performance characteristics.
In 2016, I used a NOK 100,000 grant we received from Innovation Norway to set up a workshop at my parent’s place. After a lot of experimentation, I woke up one night with an idea of how to precisely utilize methods from industrial weaving: not just a concept, but a specific method. We called it FiberPrinting and founded ALVA. Today, we are 40 employees, have raised close to NOK 200m in capital, have 4 granted patents and 5 pending, and have recently commercialized our first electric propulsion system for the industrial UAV market.
Trondheim has been a great place to develop our company. We have easy access to great competence from NTNU students and relevant technological companies. Our goal is to build a green-tech company for the future. Think Siemens. Think GE. Think Alva.
What is your proudest professional accomplishment?
Signing contracts with Lockheed Martin and The Boeing Company. Closing our latest round of NOK 117m from key investors like NRP Zero, Statkraft Ventures, Jakob Hatteland, and the Japanese Drone Fund was also a great achievement. All of these are a result of great teamwork and dedication from the Alva team.
What’s your favourite way to unwind?
I am a social guy and cherish a good work/life balance. When I started Alva, I thought we would be done in 3 years. Realistically, this is a 10+ year project, so it's important to look at it like a marathon – not a sprint.
I spend a lot of time with friends and loved ones. I play classical guitar, work out, and have recently become hooked on padel – great fun!
What’s one of your favourite places in Trondheim?
I love Héctor at Solsiden. It's a great place.
What advice would you give to new founders in Trøndelag?
Realize it’s a long-term game. Find people you trust and give them the responsibility to make their own decisions. Always think ahead to the next financing round – what do you need to achieve by the time you’re raising capital again? And, of course, have fun!
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