HYMATEK AS was established on 20 March 2003 and began operational 1 June 2003. The company was founded by all employees of the former Control Department (Regulatoravdelingen) at ALSTOM Norway AS. 25 July 2008 HYMATEK AS acquired by Rainpower. At the same time Rainpower regulator operations merged into HYMATEK AS.
The company has grown steadily in recent years, both in number of employees and in revenue.