He is known for his development of the family company M. Peterson & Søn, and also served one term in the Norwegian Parliament.
[3] Theodor Peterson discontinued the shipping operations, instead choosing to venture into the pulp and paper industry.
The factory Moss Cellulosefabrik was built in November 1882,[4] and in 1883 production of cellulose sulfate commenced there.
[3] After his death, this business field was further developed, first by his wife Sara[4] but mainly under the leadership of their son Hans Blom Peterson.
[3][5] In politics, Peterson was elected to the Norwegian Parliament in 1871, representing the constituency of Moss og Drøbak.