GreenGo Energy A/S
GreenGo Energy A/S has quickly established itself as a leader in the Danish solar power market, specifically for public enterprises, housing associations, and property companies.
SEED capital and the Christiansen family behind the Semler Group have joined together as a syndicate to invest DKK 10 million in GreenGo Energy A/S, with an option for further investment of DKK 12 million. The capital ensures the best possible conditions to develop and support growth in the company.
Unique business model
The reason behind the strong growth is a unique product platform and business model. Customers are assured of guaranteed low electricity costs that can be as much as 50% lower than market prices, and pension funds are guaranteed high returns of up to double those on the investment properties in the portfolio.
Proprietary Technology Platform
The differentiated technology is integrated into the cloud-based IT solution – GreenGo Control Room – which has been designed from the ground up to optimise and guarantee the operation of larger solar panel systems. Through accurate error detection and fully automated execution and intelligent packaging of service actions, servicing costs across the lifetime of a system are reduced, as are periods of downtime or redused
The IT platform also contains a marketing module – GreenGo Monitor – so that customers are guaranteed the best possible profiling and user experience, which is an important parameter.
MegaWatt (MW) projects won from Regions and Municipalities
The first major project was the Teknikerbyen in Virum on behalf of SEB real estate, where Alectia and Dong Energy are consumers of the electricity generated. The project received a lot of publicity in the media, as it was the largest solar power system in the Nordic region.
Within the last 6 months GreenGo has won several large MegaWatt (MW) contracts in the public sector.
Establishing a position in Denmark – and around the world
The plan is to embed the position in the Danish market, and then invest in selected markets globally, where there is an optimal fit with GreenGo’s technology and business model.
Backing of experienced serial entrepreneur
The company was originally founded by Karsten Nielsen, who is the majority shareholder in the company, together with Botond Vagi and Frederik Flagstad. Karsten is a serial entrepreneur and founded Bang&Olufsen ICEpower A/S in 1999, using as its basis ICEpower technology, which he invented during his PhD project at the Technical University of Denmark. Karsten received the Mads Clausen prize for entrepreneurship from Jørgen Mads Clausen from Danfoss in 2007 for the results.