September 26, 2022

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Business, Esmart Systems |  Pooled nearly 400 million to develop power grid technology

Business, Esmart Systems | Pooled nearly 400 million to develop power grid technology

Halden-based eSmart Systems was among the first companies in the world to develop technology solutions for power grid inspection, development and maintenance based on artificial intelligence, Grid Vision®.

With over 20 years of experience, the company has become a leading international player in its field. The company has a client list made up of many of the world’s largest energy companies, including E. On, Naturgy and Xcel Energy.

400 million

In the recently completed B version, the current owners – Equinor Ventures, Kongsberg Gruppen, Nysnø Climate Investments, Energy Impact Partners and Future Energy Ventures – together with US investment fund Arosa Capital, have invested nearly NOK 400 million in eSmart. Systems.

What is case B?

In order to find out what a B issue is, one must consider two periods in finance. number and share b.

emission

According to nordnet.no, the problem is the expansion of the company’s capital. This expansion also leads to an increase in the company’s capital.

At the issue, new shares are printed, which investors can buy, which in turn increases the company’s equity.

There can be several reasons why a company might want to implement a problem. The company may wish to:

  1. Continue to grow through acquisitions and investments.
  2. Get better financial flexibility.
  3. Strengthening equity, to be able to cover the deficit and debt, if things go wrong with the company.

There are several different types of issues, and what sets them apart are often the groups of shareholders that the company deals with

share b

Basically, all shares in a company have the same voting and dividend rights, but this principle can be changed by companies.

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The company can choose to deviate from the fact that all shares have equal rights and create different classes of shares. There are no restrictions on the number of different sharing categories you can have.

In this case, it was a “B” problem, i.e. a problem in which the arrows of “B” were printed.

Stock B usually has the same right to dividends, but it’s common for you to have no or fewer voting rights in the company.

Such shares are often created so that the original shareholders can maintain control of the company, but new money comes into the company via newly created B shares.

Sources: Nordnet.no and fiken.no

The raised capital will be used to accelerate the company’s commercial development and international growth.

Henrik Bache, who took over as Managing Director of eSmart Systems last fall, says the knowledge and insight our owners have and the strategic support they contribute will have a significant quality impact on our further business development.

Our owners’ decision to continue to support us is a huge vote of confidence – both in the company’s further growth journey, and in our societal mission, which is to accelerate the energy transition to a more sustainable future by developing smart power grid solutions.

leading position

Arosa Capital, which invests in both conventional and alternative energy companies, of which it recently became an owner, believes that eSmart Systems can occupy a leading position in the global energy market.

eSmart Systems has the right solutions, team, and investor base to succeed globally, and we believe the company will play an important role in the world’s energy transformation. We look forward to actively contributing to the company’s growth journey, says Til Bechtolsheimer, CEO of Arosa Capital.

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Henrik Bache adds: – We are pleased to share with us a respected long-term strategic investor such as Arosa Capital, our view on future growth opportunities. The completion of the issuance of these shares in the current financial climate is an affirmation of the company’s strong position and future prospects.

Good growth opportunities

According to Princeton Environmental Research and Rystad Energy, the global energy network is expected to triple, and more than $18,000 billion will be invested by 2050 to reach net zero emissions, which is expected to create massive growth opportunities for eSmart Systems.

The geopolitical situation we are facing has led to an increased interest in energy security and an emphasis on the need for a stable electricity grid. Henrik Bache says:

Last summer, eSmart Systems bought Stavanger-based Verico to boost growth internationally.

Read more about the acquisition here:

Verico provides specialized Asset Information Management (AIM) services and solutions for the energy industry, complementing and complementing eSmart system services. The combined company employs 110 people in Sweden, Germany, the Netherlands, the United Kingdom and the United States of America.

Brokerage firms DNB Markets and Arctic Securities were financial facilitators of the issuance.

About eSmart Systems

eSmart Systems is a leading supplier of artificial intelligence-based solutions for critical infrastructure inspection and maintenance.

With their Grid Vision® software solution, they have revolutionized how electricity providers and their transmission and distribution networks operate and maintain.

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eSmart Systems offers a data-driven approach to infrastructure inspections that can be managed through a single digital platform.

It supports companies around the world by facilitating lower costs, safer inspections, and extending the life span of critical input factors.