Emaldo has entered into an agreement to acquire the Swedish company CheckWatt AB, creating the largest aggregator of renewable energy in the Nordics. CheckWatt will continue to operate as an independent service, while Emaldo will take over ownership and invest in further growth and development. Emaldo writes in a press release.
– The green transition depends on innovation, collaboration and trust. By keeping CheckWatt AB as an independent service, we ensure that our partners can continue to benefit from their expertise and technology, which drives the energy sector forward. At the same time, Emaldo, as owners, will invest further in developing the CheckWatt business to accelerate its growth and expand into new markets and services. Our commitment is not only in growth, but in a sustainable future, where strong partnerships and open ecosystems help accelerate the transition to renewable energy, says CEO of Emaldo Steffen Bjerregaard.
CheckWatt has been working with energy management in Sweden for over ten years, aggregating batteries, electric car chargers and renewable energy into virtual power plants, among other things. The solutions contribute to grid balancing and electricity production during peak periods, which strengthens the stability of the electricity grid and reduces the need for large grid investments. The company currently provides services to around 15,000 households and businesses in the Nordic region.
– We are still only at the beginning of where renewable energy production, electrification of transport and industry, together with battery storage, will take us. CheckWatt must continue to reinvent and innovate to drive development forward, and now, together with Emaldo, we have secured the resources to do so, says Dan-Eric Archer, CEO of CheckWatt AB.
The transaction is subject to approval from the Swedish authorities for direct foreign investments and may take up to six months. In the meantime, the two companies will continue to cooperate within their existing partnership framework. Both companies will continue to serve their own customers and partners unchanged.
After the acquisition, Emaldo Power Group consists of more than 300 employees, 20,000 connected batteries and a total capacity of 300 MW. The group collaborates with over 400 partners and supports 100 electricity companies.
– This acquisition is a perfect match with Emaldo's vision to accelerate the green transition,
says Steffen Bjerregaard.
– By combining CheckWatt's expertise in energy measurement and management with our robust solutions, we will give consumers and businesses across Europe even more advanced options to optimize energy consumption and seamlessly integrate renewable energy,
he adds.
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