Enersize focuses on software and centralizes operations in Lund
Enersize Oyj (“Enersize” or the "Company”) announces that the Board has decided to centralize and streamline the Company in order to accelerate the transition to the sale of software that generates recurring income. CEO Anders Sjögren will take over the operational management of sales and marketing in the short term. The reorganization is expected to streamline work and reduce costs for the company by closing of the office in Gothenburg.
Enersize's board works strategically to accelerate the transition to software sales to generate recurring revenue. In connection with this, the Gothenburg office will be closed down and the CEO will in the short short term take over the operational management for sales and marketing work with the task of initiating a program for the development of the go-to-market strategy.
In the market situation that has now arisen, Enersize will concentrate its operations on Lund. This also includes increased focus on "Compressed Air Services", the company's unique integrated Software-as-a-Service offering. To begin with, the main focus of sales is on developing Enersize's partner eco-system, and in line with this, the Company has intensified cooperation with their partners in Sweden.
The restructuring will be implemented with immediate effect and is not expected to significantly affect sales in the short term, but provide conditions for faster growth in 2021. The company expects the cost for the company to decrease by approximately SEK 0.3 million per month when the change is fully implemented.
Following a very successful issue, Enersize has secured the opportunity to develop the company's sales and marketing work in new geographies, such as Germany. Investments are also being made to strengthen the portfolio of unique SaaS components for industrial real-time optimization of compressed air. The company is also beginning to see more positive buy signals from the market, which has been virtually stagnant after Covid19. Projects sold in Q1 have in many cases been postponed due to Covid19 but are now starting to be planned for delivery.
"The fact that Lund will now also be the head office for the sales and marketing organization is a natural step in our development and will mean that we can work faster with the transition to becoming a software company," says Anders Sjögren, CEO of Enersize
For more information about Enersize, please contact:
Anders Sjögren, CEO
Phone: +46 730 76 35 30
With its proprietary patent-pending automated software, Enersize Q+ for leakage management, data collection and analysis, Enersize can provide 10-50% energy savings in industrial compressed air systems. With Enersize Enterprise, the customers can measure and monitor several factories centrally. Through the recently acquired Enersize LEAQS system, the company has access to more than 9000 leakage management projects, and the associated more than 4000 customers worldwide. The combination of the company’s software services can increase the customer’s savings in running projects, while generating direct license and project revenue. 90% of the manufacturing industry uses compressed air, which constitutes about 2% of the world's total electricity consumption. Among Enersize's existing customers are one of the world's largest manufacturers of flat screens and well-known car manufacturers and steel mills. The company is headquartered in Helsinki, have a sales offices in Gothenburg and Shanghai and a development office in Lund.
The company is listed on Nasdaq Stockholm First North Growth Market under the ticker: ENERS. www.enersize.com
Mangold Fondkommission AB
Phone: +46 8 503 01 550
This information is information that Enersize is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2020-08-21 09:00 CEST.