Possibly Norwegian ODINN back patch and beer can plaque piece

[Tonomachi]

I have had this large back patch and beer can like plaque piece for a numbers of years without an identification.   I'm guessing this is Norwegian due to the word ODINN or it could be another Scandinavian country as well to include Iceland.  The reason I bring up Iceland is because the only thing I have ever been able to locate on the Internet that uses the term ODINN and is military related is the former Icelandic Coast Guard vessel called the ODINN.  It was built in Denmark back in 1959 and is currently a museum ship at the Reykjavik Maritime Museum in Iceland.  With the atomic symbol at the top and electrical lighting bolt under the eagle's claws I thought maybe a nuclear power plant but couldn't find anything on the Internet.  Any ideas?