For more than 20 years, Powel has helped ensure that providers of critical infrastructure can utilise society’s resources as effectively as possible. Today, Norway has the greenest and most efficient energy production in the world, and Powel has been part of the entire technological journey that made this possible. We have also been an important contributor to the fact that you and I can drink clean water straight from the tap, stay warm when it is cold and travel safely on the roads.
The green shift
In the future, Powel will spearhead the green shift with innovative solutions that help to increase the use of renewable energy. Cutting edge expertise within industrial IT, combined with our understanding of innovation and business, make Powel a solid, international company that will grow and contribute to sustainable solutions. Our clients are energy companies, grid operators, entrepreneurs, water supply companies and the public sector. Extensive experience, combined with technical depth and an even greater focus on innovation, have made Powel a resource centre as well as a software provider.
Close collaboration with customers
We exchange knowledge with our users and partners every single day and are constantly innovating in partnership with clients, institutions and research organisations. Powel delivers software and IT services, as well as consultancy relating to the implementation of these services. The company has a very good understanding of business within the clients’ business areas, and in recent years has invested heavily in new cloud-based solutions, as well as gained a foothold within the use of machine learning and artificial intelligence.
Powel has developed good relations with various universities and has good access to new expertise. The organisation has evolved, both abroad and at home in Norway. Digitalisation and automation are becoming ever more important in all of the areas in which Powel works, and they present both opportunities and challenges. The main development focus is now on cloud-based products and services, and the utilisation of big data and opportunities presented by the Internet of Things are becoming increasingly important in creating utility value for our clients.
Powel is ISO certified
Powel provides software for critical social infrastructure and our clients are heavily focused on quality and cyber and information security. Going forward, we can see that quality certification will be required to successfully gain footholds in new markets. Powel worked on ISO certification throughout 2018. In 2018, Smart Energy was certified in ISO 9001 quality management and we are working to ensure the entire group is certified by the end of 2019. At the same time, Powel has successfully completed ISO/IEC 27001:2013 certification. This is an internationally recognised standard that takes a holistic approach to information security and describes best practice for protecting assets and business-critical information.
New senior management
The group changed its chief executive and reorganised its business in 2018. The company significantly restructured its operations in November and December. The cost base was substantially reduced during 2018, which provides a good starting point for delivering positive results in 2019. All of the restructuring costs were charged in the 2018 figures. The metering business was sold on 31 December 2018. This had made a negative contribution to the company’s results for a number of years, and the sale of the business will improve the company’s financial results for 2019. Overall, Powel is starting 2019 as a more focused company with its sights firmly set on strategically developing the company’s segments.
Arendal Fossekompani (AFK) owns 96.6 percent of Powel AS. AFK is an industrial investment company that owns energy and technology related companies with an international field of impact.