Volue - Strategic Power Grid deal with a dominant\, undisclosed Danish power distributor
- Mar 31, 2023 11:52 am GMT
Oslo Bors Newsfeed
Voluecontinues to strengthen its presence in the Nordic Power Grid market following the signing of a strategic deal with one of the most influential Distribution System Operators (DSOs) in Denmark. The deal follows a large European wide tender process where Voluewas selected as the preferred provider. Trond Straume, VolueCEO, Comments, "At our publication of results for the fourth quarter of 2022 we highlighted a contract with a major Norwegian utility. We pointed to the deal as being a testament to Volue'scapabilities and an important steppingstone for similar contracts both in the Nordics and continental Europe. That is exactly what today's deal is and we are delighted to further validate our Nordic Power Grid presence as well as bring increased support for our ambitions in continental Europe." " Voluehas defined how future grids should be operated and consequently what modular SaaS solutions DSOs will need to accelerate the energy transition with more efficient work-processes. This strategy is what both the Norwegian and Danish DSOs have signed up to, and validates our plan for European growth," said Stein Petter Agersborg, Senior Vice President, Power Grid at Volue. Straume continues, "The deal is of a significant size for the Power Grid segment, going over ten years and holds about 60% ARR - of which about half is SaaS. In this respect, the deal is an important step in Volue'songoing SaaS transformation. The end-goal for the customer is to improve day-to-day operations, increase efficiency and ultimately be able to handle more intermittent renewable energy on the grid and enable the green transition. The deal collectively underpins both the client and Volue'scommitment to facilitate the electrification of Europe." For further information, please contact: Arnstein Kjesbu, CFO, Volue, +47 970 47 699, Arnstein.firstname.lastname@example.org Jacob Zeno Clausen Krøvel, Head of IR, Volue+47 484 03 225, Jacob.email@example.com About Volue Volueis a market leader in technologies and services that power the green transition. Based on 50 years of experience, Volueprovides innovative solutions, systems and insights to industries critical to society. Over 770 employees work with around 2,500 customers across energy, power grid, water and infrastructure projects that ensure a sustainable, flexible and reliable future. The company is headquartered in Oslo, Norwayand active in 40+ countries. Visit volue.com for more information.
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