A Half-Century of Innovative Energy Experience
Powel ASA was established in 1996, a spin-off from the Norwegian Electric Power Research Institute (EFI), a part of the SINTEF Group. EFI has since 1950 conducted research and scientific analysis on behalf of the Norwegian Generators and Transmission & Distribution companies. The introduction of IT and software applications for optimising business processes commenced in the early 1970s. In the mid 1990s, SINTEF's software solutions had become widely used within the Norwegian Power Industry, and the EFI Board decided to establish Powel Data AS as a spin-off to commercialise certain software products and raise capital for further business development.
Powel Data AS was therefore established on 1 June 1996 with 37 employees and the legal ownership rights for unique software products. Powel Data AS was later reorganised to become Powel ASA with the objective to grow the business and fulfil the vision of becoming an internationally competitive solution provider.
The following gives an overview of Powel’s development since establishment in 1996:
1996 Established by EFI with 37 employees and legal rights to products. Norsk Vekst ASA and employees became shareholders following the EFI divestment.
1997 Subsidiary named PD Svenska AB, later renamed to Powel Energy Management AB, established in Sweden, with objective to serve the Swedish market with Powel's solutions.
1998Powel Grid Management established in Los Angeles USA, with objective to serve the US market with T&D solutions. Contract with SCE on behalf of CERTS signed 1999.
Established Powel eServe AS in Norway with objective to serve the eBusiness Market. Company integrated with Powel ASA 2004.
1999 Acquired Charles Howard & Associates in Canada to serve the US market in Water Management and Hydro Power Generation. Renamed to Powel Technology Inc.
2000 Established Powel Inc in Delaware to be holding company for subsidiaries in USA and Canada.
Acquired part of Sysdeco GIS AS in Norway and subsidiary Sysdeco AB in Sweden. Objective to serve the customer base with GIS based Network Information System among them Vattenfall Elnät AB.
Acquired Asplan Viak IT AS renamed to Powel Gemini AS. Objective to implement GIS in Powel software NetBas and to build competence in a Multi Utility market.
2004Merger of MiniMax Inc and Powel Inc to Powel-MiniMax Inc with objective to strengthen MiniMax and Powel’s position in the USA market.
2005 Acquisition of Tuben Teknik AB, Sweden.