Noova Energy Systems is growing in the Nordic market and establishing itself in Finland

(Stavanger, November 13, 2024) – Noova Energy Systems (Noova) is entering the Finnish market and will begin offering energy technology, electricity, and related services to commercial customers starting in January 2025. After expanding into Sweden in 2023, Finland becomes the third market for Noova’s operations.

Strong Nordic Growth

Noova’s growth continues as it strengthens its position with yet another establishment in the Nordic energy market. Over the past year, the company has seen a 40% increase in revenue from its technology solutions and recently signed a technology agreement with Entra covering their entire property portfolio. Noova’s power portfolio has grown by 15% in the same period. The company is experiencing strong demand in both Norway and Sweden and expects a similar trend in Finland.

Strategic Expansion into Finland

The Finnish energy market shares many similarities with Norway’s, including a comparable energy mix and a total consumption of nearly 30 TWh in the professional segment. In 2022, Finland set the world’s most ambitious climate goal—to become carbon neutral by 2035. Achieving this requires significant reductions in energy consumption and emissions.

“For companies that actively work to operate smart, profitably, and sustainably, our technology platform is unique. To succeed in the green transition toward a zero-emissions society, digital investment is essential—one that enables major cuts in energy use and emissions,” says Even Gjesdal, CEO of Noova.

Cross-Border Demand and Competitive Advantage

There is growing demand from Nordic customers with operations across borders.

“Many of our clients prefer corporate-level agreements instead of country-specific contracts. Our technology platform works seamlessly across borders. This is a key competitive advantage for Noova, and the establishment in Finland is a natural step in our growth strategy,” Gjesdal adds.

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