Trill Impact acquires majority stake in Noova Energy Systems

Trill Impact has entered a partnership with Noova Energy Systems, a tech-enabled energy supplier with an integrated software solution, enabling SMEs to optimize their energy consumption and reduce carbon emissions

Noova Energy Systems (“Noova”) is an innovative energy company headquartered in Norway, driven by a team of experienced professionals, committed to advancing technology and sustainability in parallel. The company’s offering spans from energy supply to energy usage optimization – creating a one-stop shop for small and medium-sized enterprises (SMEs) in Northern Europe.

Founded in 2005 with an initial focus on electricity sales, the company identified a growing need among SMEs to reduce their energy costs, gain control over energy consumption, and improve administrative efficiency. Today, Noova is a full-service provider of energy solutions, offering an Energy Management System (EMS) including energy control and automation, that brings everything together in one place.

Noova’s technology-based software platform enables SMEs to monitor real-time energy consumption, identify inefficiencies, and uncover opportunities to optimize energy use and reduce costs — while lowering their carbon footprint. The Noova Energy platform also simplifies sustainability reporting by automatically allocating costs and emissions and streamlines the overall expense management.

Commenting on the partnership, Ole Gillebo, Investment Director at Trill Impact Advisory, says:

“In our view, Noova is well positioned as a frontrunner in offering energy, and energy optimization solutions, helping SMEs automate and reduce their energy usage and costs. We are impressed with what the management team and previous owners have built so far, and the strong track record to date. Together with the Noova team, the ambition ahead is to further expand the platform through product innovation and continued growth – and become a leading champion in the energy optimization space in Northern Europe.”

Even Gjesdal, CEO of Noova Energy Systems, says:

“Noova has built a platform with a proven ability to deliver measurable savings for our customers, offering a clear value proposition. Our partnership with Trill Impact builds on that foundation, enabling us to expand by rapidly scaling our technology, and meet the market demand for our solutions. We are now in a stronger position to support the growing number of organizations that need to actively manage their energy use and treat it as an essential, flexible resource.”
 

SDG and Impact contribution:
Reducing energy consumption across buildings and industries is a growing priority, particularly in light of Norway’s 2030 target to reduce energy intensity with 30% compared to 2015 levels—including a 10 TWh reduction in energy use from buildings alone[1]. Progress is lacking, as Norway has only reached one-third of the goal for buildings while spent two-thirds of the budgeted time[2]. In Europe, 75% of the building stock is energy inefficient[3] and only 1 in 5 renovations in Norway includes significant energy efficiency upgrades[4].

In Trill Impact’s view, Noova has a unique potential to enable SMEs to address these challenges through their offering, that spans from energy supply to energy optimization, which is unlike traditional power suppliers and providers that offer energy management systems alone. By providing insights and advisory on energy consumption and optimization, Noova enables meaningful energy savings and thereby contributes to:

SDG 7.3 – Double the improvement in energy efficiency

SDG 9.1 – Develop sustainable, resilient and inclusive infrastructures

This material has been prepared for informational purposes only and should not be considered to be a recommendation to buy or sell securities or as investment advice. All statements and opinions included herein are subject to change as economic and market conditions dictate. There can be no assurance that any views, outlooks, or forward-looking statements will come to pass.

Media Contacts

Trill Impact
Karin Källén, Communication Manager
karin.kallen@trillimpact.com

Noova Energy Systems
Ida Kr. Schlotterbeck. Communication Manager
ida.schlotterbeck@noova.no

About Trill Impact
Trill Impact is a European private markets firm with EUR 1.4 billion in assets under management, investing in companies that provide solutions for a Sustainable Planet, for Healthy People and for a Resilient Society. Trill Impact aims to deliver attractive financial returns to its investors, by exclusively making investments that matter for current and future generations. For more information, please visit: www.trillimpact.com 

About Noova Energy Systems
Noova Energy Systems is a leading provider of energy management systems for small and medium-sized enterprises. The company delivers energy and technology solutions that offer real time insight and management of consumption, cost and environmental impact. Noova’s customers can achieve significant reductions in energy use, while maintaining quality and comfort. The company currently operates in Norway, Sweden and Finland, with its headquarters in Stavanger, Norway. For more information, please visit: www.noova.no