Reference is made to Otovo's Q2 2025 financial report, where it was disclosed
that the Company has licensed the Otovo brand in the United States to a company
owned by William J. ("John") Berger, a member of the Board of Directors of Otovo
ASA.
Mr. Berger's company has now launched Otovo USA in Texas, US. Otovo USA will
operate independently under the licensed brand providing services to owners of
solar and storage systems as well as related equipment, leveraging its
proprietary Endurance AI platform. Otovo ASA holds no ownership interest in
Otovo USA.
No financial or operational obligations are expected to accrue to Otovo ASA
beyond the agreed licensing terms. Licensing revenues in 2025 and 2026 are
expected to have an immaterial impact on Otovo ASA's financials.
Please see attached Otovo USAs press release issued today as part of their
launch.
***
For further queries, please contact:
Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78
Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43
***
About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the
roof, and batteries in the home. Otovo is a marketplace that organises hundreds
of local, high quality and qualified energy installers. The company uses its
proprietary technology to analyse the potential of any home and finds the best
price and installer for customers based on an automatic bidding process between
available installers.
Follow us on investor.otovo.com for reports, financial calendar, contact
details, and more.