The new international growth company Volue will be offering technology and expertise enabling the massive transition from fossil to renewable energy.
The four companies joining forces in the Volue group Scanmatic, Markedskraft, Wattsight, and Powel, are all owned by Arendals Fossekompani (AFK).
“We are proud to present Volue, which will be a leading technology supplier and enabler for Europe’s green transition. Volue will fill a gap in the market by offering technology and expertise that make it possible to replace fossil energy with renewables, or reduce emissions from fossil energy sources,” says Trond Straume, currently serving as the CEO of Powel and now taking on the responsibility of leading Volue.
The group has a strong market position in the European energy sector. Volue also serves several industry verticals in the Norwegian and Nordic markets, including the strong Powel position in the water sector and the construction industry. In 2019 Volue had MNOK 800 in pro forma operating revenues, 500 employees and more than 2,000 customers in 44 countries.
“We are now able to accelerate the transformation to Software as a Service, strengthen our innovative capabilities and artificial intelligence efforts to enhance our customers’ technological opportunities. Joining the Volue group is to the benefit of our customers across all the markets we serve”, says Straume.
Solving megatrend issues with global impact
Volue becomes a system provider based on sensor technology and data capture from Scanmatic, and Powel's industrial software solutions, which Europe's largest power producers already use to optimise operations and maximise the value of their resources and infrastructure. This is combined with Wattsight's leading analysis environment for the European power market, and Markedskraft's trading and management of energy portfolios.
“We are launching a company similar to nothing ever seen before in Europe. Volue solves the challenges associated with the largest megatrend of our time: the massive transition from fossil to renewable energy. Our expectations are high, and we will consider a future listing of Volue,” says Ørjan Svanevik CEO of AFK.
Changes in the energy market as a driver for Volue
Volue is established on the backdrop of a fundamentally changing power market. Controllable energy resources are phased out in favor of variable energy resources such as solar and wind. This occurs in parallel with the general electrification of society, in order to reduce greenhouse gas emissions, which in sum contributes to the complexity of the energy system.
“When supply is weather dependent and demand is characterised by the electrification of the transport sector, it presents challenges for a market that needs to be in a constant balance for 750 million Europeans to be able to turn on the lights at home. The solution lies in the combination of digital technology and deep industry knowledge, which is exactly what Volue offers”, says Straume.
For further information, please contact:
Trond Straume, CEO of Volue, phone +47 907 99 625
Ørjan Svanevik, CEO of Arendals Fossekompani, phone + 47 414 51 560