*Highlights* - Successful launch ofPortugal ,Austria and theUK . Sales in all three countries - Countries will positively impact sales in Q4 and bring revenues from Q1 next year -Jina Kwon (former Ankorstore, Bookatable, Groupon) signed as General Manager forUK *Three successful launches*Otovo announced in February that the company would launch six new markets in 2022. With first sales recorded inPortugal ,Austria and theUK , the first three of these countries are now successfully launched on time and budget. Between them, these countries represent an addressable market of 250,000 residential solar installations next year. AsOtovo rapidly establishes its presence we expect the markets to meaningfully impact sales from Q4 this year and revenues from Q1 next year. CEO ofOtovo ,Andreas Thorsheim , remarks: - Launching three countries in parallel is ambitious, but we have been able to set up great local organizations in a very short time led by our lean central launch team. Europeans are unanimous in their choice of solar as a major remedy to the current energy crisis. - I'm happy to see that in all three markets, customers are buying solar panels with high battery attachment rates and that many are choosing a subscription purchase model. This increases the value both for the customer and forOtovo , he adds. *Attracting top talent* The Portuguese business has been headed byManuel Pina , former head of UberPortugal , since May of this year. Today,Otovo announces thatJina Kwon will lead the company'sUK business, taking on the role of General Manager in September of this year. She is a seasoned executive, having held management positions at international digital marketplaces for more than 15 years. Before joiningOtovo , Kwon was theUK Country Manager for Ankorstore, the marketplace for independent retailers, recently valued atUSD 2 billion after its SeriesC. Prior to this, she was a Managing Director forFrance andSpain at Bookatable, Head of Business Development at OneLane, and held director positions at Groupon andMergermarket . LeadingPortugal and theUK , Pina and Kwon will report toOtovo's Managing Director forWestern Europe , Inigo Amoribieta, who remarks on the signing of Kwon: - Jina will be a great addition to our group of General Managers. She brings managerial experience from great marketplace companies. I look forward to working with her in scaling upOtovo in theUK , using the playbook from our other successful market entries. *** AboutOtovo :Otovo was founded inNorway in 2016 and is a marketplace for solar installations. For homeowners,Otovo is the easiest way to get solar panels on the roof, and batteries in the home.Otovo's marketplace 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. Please visit otovo.com for more information. Follow us on investor.otovo.com for reports, financial calendar, contact details and more.
Click here for more information
© Oslo Bors ASA, source