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Axel Johnson becomes owner of solar cell company Eneo

Axel Johnson becomes owner of solar cell company Eneo with the aim to create a European market leader in solar energy supply for large companies and organizations. The investment in the company is made through D-Ax.

Eneo’s so-called PPA model is based on the fact that Eneo takes responsibility for projecting, building and operating solar cell installations, while the customer during the cooperation period pays a fixed electricity price per unit of spent electricity. Eneo’s customers are driven by a willingness to simplify and streamline their supply of renewable electricity, reduce their costs and reduce their climate footprint. Today, Eneo operates over 40 plants for larger companies and has recently signed large agreements with Toyota and Swedbank.

A few years ago, Axel Johnson set a 10/50 goal, with the ambition that in ten years, 50 per cent of our revenues will come from things that we do not do today. As part of achieving this goal, we are looking for new, exciting industries that benefit from underlying macro trends and companies with both rapid growth and good profitability. Solar energy is an area that will grow strongly in the future, both in Sweden and globally. We have identified it as an interesting area where our long-term ownership agenda coincides very well with the industry’s needs.

Stina Andersson, COO Axel Johnson and incoming member of the board of directors of Eneo: “We want to invest in brilliant entrepreneurs in areas with underlying growth that fit Axel Johnson’s values ​​and long-term perspective. We are happy to be able to back a team and a business with this investment that meets our criteria in such a fantastic way. We see that the service model for solar energy that Eneo operates has grown rapidly in the US and we are convinced that together we can create a leading position when we make the corresponding growth journey in Europe.”

Harald Överholm, CEO and co-founder of Eneo: “It feels exciting and important to bring in a value-driven investor like Axel Johnson as an owner in Eneo. Axel Johnson’s combination of driving entrepreneurship and growth combined with a distinct long-term approach will help us reach even more customers and drive renewal of the energy supply of European companies and organizations”.

More information about Eneo is found here. For further questions contact:

Harald Överholm, CEO and co-founder of Eneo, +46 704 19 86 91, harald@eneosolutions.com

Stina Andersson, COO Axel Johnson, member of the board of directors of Eneo, +46 706 40 94 77, stina.andersson@axeljohnson.se

About D-Ax

D-Ax is the Axel Johnson Group’s company for investments in early stages of fast-growing start-ups with great potential. Axel Johnson builds and develops companies with a long-term perspective and a willingness to change, and as an investor D-Ax wants to be a long-term owner partner for exceptional entrepreneurs who build the next-generation growth company.

About Eneo and the PPA model

Eneo develops customized solutions within renewable energy for each individual customer. Eneo was first in the Nordic region to be able to offer PPA agreements and provide all types of consulting services to help customers analyze, install and manage solar cell installations. In particular, Eneo sees that their customers can achieve the full business value with solar cells, while minimizing the risks. Eneo today consists of 25 people and operates over 40 facilities for large companies and the public sector. Our ambition is to become the market leader in the EU for PPA agreements for large companies and organizations.

The business model PPA is a long-term electricity purchase agreement where the customer buys the solar energy as a service from the solar cell facility. The PPA supplier invests, installs, owns and maintains the solar cell facility. In the agreement, the customer undertakes to buy the electricity produced by the facility for a fixed price per kilowatt hour throughout the contract period.