From left Project Manager Powel Stian Reite, Business Manager Powel Reidar Øye, President/CEO EB Nett Thorstein Thiseth, Sales Manager Powel Lars Dyrnes and Project Manager EB Bent Gabrielsen.

New NetBas® deployment extends Powel’s strong market position

Trondheim, Norway (30 June, 2006) – Powel, a global utility software solutions company today strengthened its leadership position in the European market by signing a two-year contract with the utility EB AS in the county of Buskerud, Norway. The contract, which will deploy the Powel NetBas network information system (NIS), has a potential value of 3 MNOK and begins in August, 2006.

Thorstein Thiseth, CEO for EB, said they chose the Powel NetBas solution because it aligned with the company’s strategy of creating an integrated and highly efficient IT infrastructure. “Deployment of the NetBas NIS solution will clearly help us achieve our goals of leveraging the information we have within our enterprise and creating an IT infrastructure that is intelligent and cost-effective,” he said. “Implementation of this solution makes our enterprise smarter, more flexible and more responsive. It’s a strong, positive step for us.”

About Powel
Powel ASA, headquartered in Trondheim, Norway, delivers software solutions and related services designed to help energy companies and public utilities work smarter, to increase their operational efficiency and service quality. The company is a market leader in Scandinavia, and has established offices in Sweden, the U.S., and Canada.  Founded in 1996, Powel ASA is a publicly traded company and has grown from 37 employees to more than 250 in its 10 years of existence. Growth opportunities for the company remain strong in both the energy industry and the public sector.

About EB
EB AS is owned by Buskerud County through Vardar AS and the city of Drammen. The EB group reported a total income of 1 067 MNOK in 2006, with a NOP of 131 MNOK. EB is a result of consolidations in the electricity sector in Norway, specifically within power production and utility markets in the Buskerud region. EB is among the largest and fastest growing regional power utilities in Norway. 

Powel contact info
President/CEO  Jon Einar Værnes (J) +47 73804500  (M) +47 48164555
CFO Øystein Sæther (J) +47 73804500 (M) +47 48164558

EB contact info
CEO Thorstein Thiseth, EB Nett AS (J) + 47 31013000 (M) +47 90671295
CFO Margrethe Smith (J) +47 31013000 (M) +47 97192949