Alytic and Arctic Securities enter green energy partnership

Alytic AS, a subsidiary of Arendals Fossekompani ASA (OSE:AFK) has acquired a majority stake in Greenfact AS, a European company within green energy data and analysis.



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In a transaction recently signed, Alytic AS has secured 60 per cent of the shares in Greenfact AS. The remaining 40 per cent are owned by Arctic Securities AS and Cleanworld AS (owned 47.45 per cent by Arctic Securities).

“Greenfact is a perfect fit for Alytic and Arendals Fossekompani: A green-tech leader with superior domain competence, a strong brand, ongoing SaaS business and a fantastic potential for growth. Our ambition is to develop Greenfact into a company that provides relevant data and insight into how companies can optimize and develop their climate ambitions and risks,” says Espen Zachariassen, CEO of Alytic.

Greenfact was founded in 2016, with help from the renewables market broker Cleanworld. Today, Greenfact comprises an international team with strong domain competence serving more than 100 clients, including leading European energy and utility companies.

“There is great potential in both the company and the market. The European Green Deal and the EU Taxonomy present huge business opportunities. Greenfact will serve as the foundation for building a global provider of data-driven insight in the green sector. We intend to develop a technology platform which will enable Greenfact to scale existing products and expand product offerings,” says Zachariassen.

Alytic was established by Arendals Fossekompani only 10 months ago, to transform data-driven companies in various sectors. Greenfact is the third company in the Alytic portfolio, following the earlier acquisitions of Kontali and Utel Systems.

Cleanworld and Arctic Securities, the other remaining shareholders of Greenfact are pleased to welcome Alytic as a co-owner.

In Alytic, Cleanworld and Arctic Securities, Greenfact has three ambitious owners that look forward to working closely with the Greenfact team to further develop the company.

“Greenfact’s unique insights are nicely complementing Arctic’s growing service offering in the wider renewables space” says Harald von Heyden, Head of Renewables at Arctic Securities.

The transaction provides Greenfact with the capacity and competence to make the necessary investments to bring the company to the next phase. This includes ramping up the technology platform and building a stronger organization.

“Our intention is to rapidly increase our footprint in this sector, both organically and by mergers and acquisitions,” says Zachariassen.