Arendals Fossekompani (AFK) is an industrial investment company owning energy and technology related companies with international market potential
AFK owns 96.6 percent of Powel AS, which makes Powel one of AFK’s main investments. The collaboration between AFK and Powel dates back to 2007.
"We strongly support and believe in Powel. They are experiencing growth both in their home market in the Nordics and in Europe. Powel is an exciting place to work and has huge potential for long term growth," says chairman of Powel’s Board of Directors, Ørjan Svanevik.
Majority owner of eight companies
AFK is the majority owner of eight companies with 2,200 employees in 27 countries. For more than 100 years, AFK has been a proud producer of hydropower from two power plants. Every year their power plants contribute with renewable energy equivalent to the consumption of 25,000 households.
- Powel is constantly developing new solutions that contribute to the green shift. Their products and services are well-positioned for a future in which sustainability and digital solutions become increasingly important, says Svanevik. Read more about Powel’s focus on sustainability here
The industrial investment company believes in decentralised governance based on trust, transparency and outstanding performance.
Strong passion for the industry
"We believe in value creation in a long-term perspective. We also believe in management with a strong passion for the industry, focusing on customer needs in a rapidly changing world. Our business is also dependent on our employees’ solid experience and industry knowledge," says Svanevik.
AFK was founded in 1896 and has been listed on Oslo Stock Exchange (OSE) since 1913. Only Hydro has been listed longer. Company headquarters are located in Arendal, Norway.