We have become part of Noova – now we'll create even greater value for our customers

– Noova is the energy company that has become a leading energy player in energy management systems for the business sector. For us they are a "perfect match" and the partner I have been looking for. With Noova on the team, Energy Control can take the next steps. We can scale the company further, reach new markets and create even greater value for customers, says founder and CEO of Energy Control, Tommy Hagenes.

He is keen to emphasise that the new ownership only means increased potential for the company's customers.
– It's important for me to underline that everything else stays as before. I continue as CEO of Energy Control, but also as a significant owner in Noova. My motivation is therefore perhaps even higher than before. There is therefore only reason to look forward. Noova is the turbocharger that makes Energy Control even better, says Hagenes.

Must deliver more than kilowatts
The merger gives building and property customers the opportunity to significantly reduce their own energy consumption and costs, without large one-off investments and the use of time on manual follow-up.
– Noova Energy Systems combines energy with insight and control. Through Energy Control we add active management and regulation. This creates significant customer value, and it's almost remarkable that it hasn't been done before, says Even Gjesdal, managing director of Noova Energy Systems.

– Tomorrow's energy companies must be able to do more than deliver kilowatt hours. Customers demand insight, control and documented cuts in both costs and emissions. They want technology that enables smart energy use, automatically and with immediate effect, he continues.

Sharing with the employees
With the acquisition, Energy Control thus becomes part of the Noova group, but continues as its own AS and brand. Founder and CEO Tommy Hagenes sold all his shares in the company to Noova, but gave away 16 percent to four close partners.
– This is a reward for key employees and a way to ensure continued motivation in the team. The pricing has not been the most important thing, but the process has been good, and I feel the valuation of both Energy Control and Noova is fair. I will become one of the largest shareholders in Noova, and I am very motivated for the road ahead, says Hagenes, adding:
– Since the start-up, we have created technology that is ahead of the curve. We have documented that existing buildings can halve their energy use with smart demand management, while also achieving a better indoor climate. In Noova we have found a partner who shares our vision and complements us perfectly. Now we can scale the business further, reach new markets and further improve how energy is managed.

Everything aligned
Both companies are taking large, strategic steps towards fulfilling their own growth ambitions.
– It is rare to find a partner where the technological rationale fits so well. Together we are creating a technology group that responds to the market's need for value-adding products and services, concludes Gjesdal.