DecideAct signs first contract in the Danish supply sector.
DecideAct's experience in the Icelandic supply sector paves the way for a contract with a municipally owned utility company in Denmark.
DecideAct A/S [ACT]
Company Announcement No. 3-2021:
DecideAct has entered into a three-year contract with its first utility company in Denmark: Lyngby-Taarbæk Forsyning A/S. DecideAct is capitalizing on its experience with Reykjavik Energy, the world's largest producer of geothermal energy.
The utility and infrastructure sector is a significant one, with many substantial investments. The Lyngby-Taarbæk Forsyning contract also contains a development agreement to optimize solutions for other Danish and European utilities.
CEO and co-founder of DecideAct, Flemming Videriksen states: “The development collaboration we have with Reykjavik Energy - and now get with Lyngby Taarbæk Forsyning - can be used directly to target customers within this industry. It improves the opportunities for faster scaling of new markets in this sector. Therefore, it's a big strategic step we're taking now."
When the new CEO of Lyngby-Taarbæk Forsyning A/S, Flemming Horn Nielsen, took over in April 2020, he set out to create a common structure for reporting and follow-up of processes and objectives for the company's four separate units.
Horn Nielsen states: “We were looking for a digital tool that could help us gather and clarify the implementation and follow-up of our ongoing strategy process as well as other initiatives from operations and projects. We previously had this in many local systems, but the management tools we looked at were too large and complicated, and we therefore ended up making our own system in Excel. When we discovered DecideAct, we could see that here is a tool that we can quickly apply as we can transfer all our actions and initiatives immediately in a more manageable and operational way, and at the same time get better control of the progress.”
Flemming Horn Nielsen joined Lyngby-Taarbæk Forsyning A/S from a position as country manager for DONG's oil and gas division. He considers DecideAct's experience in the utility sector as a great advantage: “They understand how we work and know the structure of a utility company. This is important, not least in the initial phase of system set up.”
Lyngby-Taarbæk Forsyning A/S, owned by Lyngby-Taarbæk Municipality, supplies clean drinking water to and handles waste for the citizens of the municipality. The company also runs a treatment plant, Mølleåværket, for wastewater from Lyngby-Taarbæk and three other municipalities.
This press release constitutes inside information that DecideAct A/S is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
CEO, Flemming Videriksen
+ 45 78756550
Østre Kajgade 3, 3730 Nexø, Denmark
Keswick Global AG
+ 43 1 740 408045