Euronext NV

02/22/2021 | Press release | Distributed by Public on 02/22/2021 02:40

Skandia GreenPower lists on Euronext Growth Oslo

Oslo, 22 February 2021 - The green electricity supplier Skandia GreenPower has today been admitted to trading on Euronext Growth (ticker code: SKAND).

In just a few years, Skandia GreenPower has established a profitable end-user company in the Norwegian electricity market. The company has ambitions to become a leading player in innovative, smart and sustainable energy solutions for private customers throughout the Nordic region.

'New, smart technology and digitalisation, in combination with significant new and stricter requirements from customers, lead to significant changes and great opportunities for the electricity industry. Here, Skandia GreenPower will be an early mover and take a clear position as one of the leading Nordic players,' says CEO Gunnar Norheim.

Recently, the company raised NOK 150 million through an offering of new shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 165 million. The proceeds will be used to realize the company's business plan and growth strategy.

'The good reception in the capital market is a confirmation of Skandia GreenPower's unique business model. It also confirms the potential of the paradigm shift the electricity industry is facing. The listing on Euronext Growth Oslo is a major milestone for the company and we look forward to realizing the opportunities that lie ahead,' says Norheim.

The shares in the new issue were sold at NOK 15.20 corresponding to a market capitalisation of NOK 250 million.

Video of the bell ceremony:

About Skandia GreenPower Skandia GreenPower is a nationwide supplier of green electricity at competitive prices and mainly delivers electricity in the private retail market. The Group want to accelerate use of renewable energy sources through profitable energy management and optimisation, using digital solutions that enable smarter consumption and production, lower cost and CO2-footprint. Skandia GreenPower has its business office in Kristiansand.