Otovo and In Sun We Trust announced their merger.

Otovo, an Oslo, Norway-based company offering solar energy solutions, announced its intention to merge perations with the French solar energy startup In Sun We Trust (ISWT).

The two companies will form a company of 65 employees and have offices in Paris, Stockholm and Oslo.

The three founders of In Sun We Trust, David Callegari (39), CEO; Matthieu Bourgeon (35), CTO; and Nicolas Bodereau (40), COO, will continue managing the French market and operations, and together with Otovo’s current Scandinavian management group form the joint management of the merged company. The current brand names will be kept in each market. The joint company is currently valued at approximately €64 million based on the last NOTC trade and the minimal settlement value.

Otovo has raised almost $23M in capital funding, from investors including Agder and Skyfall.