Almi Invest sells its shareholding part in Greenbyte to Korys

Sweden Exit 12 September 2017
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Almi Invest, a Swedish early stage investment company onwed by the government, announced getting into an agreement to sell its holding in Gothenburg-based cleantech company Greenbyte to the Belgian investment company Korys.

Greenbyte, founded in 2009 and led by CEO Jonas Corné, develops SAAS products that enables unified systems for monitoring, analysis and optimization for large-scale operations of renewable energy plants.

The company has two software-based services, Breeze and Bright, which streamline the operation of wind and solar power plants. With a unified system for large-scale operation of renewable energy, time and money are saved while electricity generation is increasing.

Almi Invest, which invested in the company in 2009, now sells its shares to Belgian Korys.

"We have been active owner of Greenbyte since its inception eight years ago," says Robert Hellman, investment manager at Almi Invest. Meanwhile, the company has developed into a well-established international player with rapid growth. It feels great to hand over the relay pin to such a competent investor as Korys.

Greenbyte has close to 20 percent market share in Sweden, 15 percent in Benelux and Finland, and more than 10 percent in Great Britain, Uruguay and South Africa. The company is also growing in Germany, which is Europe's largest wind power market. The next step is to continue growing in its core markets with a strong presence in North America.

"This is the latest in the line of positive exits for us," says Almi Invest's CEO Mikael Karlsson. It is very funny to note that our portfolio has now reached the maturity of our companies being attractive to both Swedish and international investors.