Fosstech AS was established in 1997 by Steven Foss in Nøtterøy, originally as a mechanical workshop. The company’s roots, however, stretch back even further, to 1986 when FTG AS was founded. In 2004, Fosstech Stokke AS was created as a continuation of FTG, and on January 1st, 2005, the companies in Nøtterøy and Stokke merged to form today’s Fosstech AS. From its beginnings as a small workshop, the company gradually transitioned into a technology-driven enterprise, specializing in encapsulated electronics and advanced electromechanical solutions.
Fosstech quickly gained recognition for its dynamic and innovative culture, receiving awards for innovation and for creating a positive workplace. In 2009, the company was named “Company of the Year” by NHO Vestfold, the same year it acquired the Horten-based company Jatronic AS, expanding its business with cable and communication products. Significant investments in modern CNC machinery were made in 2008–2009, while mechanics and machining were still central to its business.
The sharp downturn in the oil and gas industry in 2014 marked a turning point. With falling oil prices, Fosstech was forced to adapt and chose to focus heavily on casting, molding, and electronic encapsulation. This strategic pivot proved decisive, enabling the company to emerge as a leading supplier of encapsulated electronics and electromechanical solutions for subsea and other extreme environments. Over the following years, Fosstech invested in competence and equipment, laying the foundation for advanced solutions such as signal cables, underwater sonars, and encapsulated LED lighting. Close partnerships with demanding customers like Kongsberg Discovery, Stingray Marine Solutions, and Traftec further strengthened the company’s reputation for reliability and innovation.
Until 2018, Fosstech was fully owned by Steven Foss through his holding company, but that year Otterlei Group AS, an industrial investment company based in Arendal, joined as a co-owner, acquiring 40% of the shares. This strengthened Fosstech’s industrial backing and supported further growth. Between 2018 and 2023, the company doubled its revenues, from NOK 73 million to 155 million, and expanded its workforce to around 80 employees. Its headquarters and production facilities at Borgeskogen in Stokke now cover 5,000 square meters, bringing all departments under one roof.
In 2023, Fosstech entered a new chapter when it was acquired by Bertel O. Steen Industri AS. This acquisition provided the company with additional strategic support and opportunities for international growth, while continuing its legacy of delivering robust, high-quality solutions for industries operating in the world’s most demanding environments. Today, Fosstech is a recognized world-class supplier of mechatronics, cables, and encapsulated electronics, serving customers in energy, maritime, defense, aquaculture, fisheries, and infrastructure, and offering a complete value chain from development and design to production, testing, and aftersales service.
