Eviny Ventures – a subsidiary of the Norwegian energy company Eviny – plus the privately owned Danish venture fond, 2L Holding, buys equity in Utiligize of close to 2M€, securing an ownership of approximately 11% each.
“We are excited to get financial backing of both Eviny and 2L”, says CEO Kalle Hansen. “It enables us to execute our growth strategy and is an endorsement of both our software platform and company”.
Co-founder Emil Mahler adds: “The funds will be used to expand into new geographic markets and allow us to develop our SaaS product, Asset Life’s forecast and investment functionality, to include other utilities like Central District Heating, Water and Sewage to help utilities facing the challenges of climate changes and decarbonization”.
Roald Brekkhus of Eviny Ventures continues: “Utiligize’s Asset Life platform has great potential. Eviny Ventures is interested in supporting exactly that type of groundbreaking technology, that can accelerate the green transition in the utility sector, not only in the Nordic countries, but globally”.
Roald Brekkhus, Investment Director at Eviny Ventures
“We know utility companies will have to make investments to expand the grid to cope with the growing electrification. To do so data driven and intelligently based on various data sources is not only in the interest of the utility companies, but end customers and society as well”.