A growing wave of unsupported solar systems and rising electricity prices are
creating strong demand for Otovo's energy service platform
HOUSTON--(BUSINESS WIRE)--Otovo ASA ("Otovo"), a leading global energy service
provider for residential and commercial customers, today announced it has
reached 30,000 customers across the U.S. and Europe. A total of 20,000 customers
have enrolled in Otovo Care, the Company's membership-based home and commercial
energy service, which is powered by Otovo's industry-leading AI platform,
EnduranceTM.
"Reaching 30,000 customers in less than year is proof positive that home and
business owners value their power systems," said William J. (John) Berger, CEO
of Otovo. "The 'solar service crisis' that is leaving millions of orphaned
energy systems without support is driving strong interest in our Otovo Care
membership program. Every day your home or commercial power system is not
working, you are throwing money away. Otovo's rapid response service platform
keeps you up and running, ensuring your investment is delivering."
The rapid growth of the residential solar market created a growing population of
"orphaned" solar systems - installations left without support when the original
providers exit the market or discontinue service operations. This 'solar service
crisis' has left millions of home and business owners without a way to maintain
or service their primary source of electricity.
"Home and business owners are realizing that solar ownership doesn't end at
installation," said Berger. "We have quickly become the leading service provider
for residential and commercial customers. The double whammy of skyrocketing
energy prices and lack of service have created a void in the market that Otovo
is here to fill."
Otovo provides energy system support for solar, batteries and generators. The
Company's customer base includes one-time repairs and those that enroll in its
Otovo Care membership program. Otovo Care is designed to help home and business
owners protect energy savings, avoid unexpected downtime, and maximize the
long-term value of their power investment.
The Company's proprietary EnduranceTM AI platform continuously monitors customer
systems, identifies performance issues in real time, and coordinates service
dispatch and repairs. The platform helps reduce downtime, lower maintenance
costs, and improve first-visit repair success rates. Endurance diagnoses the
issue before Otovo dispatches its highly-skilled technicians, providing
customers with a streamlined service that increases response time and reduces
costs.
Otovo's comprehensive home energy solutions are delivered through an integrated
platform that combines electricity supply, professional service and maintenance,
and smart grid optimization via a Virtual Power Plant (VPP). Homeowners gain
reliable power and dependable service through a single trusted partner.
About Otovo
Otovo is technology-enabled energy services company in Europe and the United
States. We combine real-time equipment monitoring, rapid repairs, dependable
power supply, and grid participation into a single, seamless service-delivering
maximum service at a minimal cost. EnduranceTM, Otovo's industry-leading AI
platform, continually monitors installed equipment in homes and businesses,
optimizes the entire service process from problem detection to resolution, and
coordinates repairs around the clock. "Your Power, Backed by Ours." Otovo is
listed on the Euronext Oslo Stock Exchange under the ticker OTOVO. Visit us at
otovo.com.
Contacts
Matt Dallas
917-363-1333
matt.dallas@icrinc.com
OTOVO. Visit us at\
otovo.com.\
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\
Contacts\
Matt Dallas\
917-363-1333\
matt.dallas@icrinc.com\