Otovo announces the acquisition of Sunmapper from Denmark.

Norway M&A 07 September 2018
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Otovo, an Oslo, Norway-based startup providing solar energy solutions, announced that it has acquired Sunmapper’s Photovoltaic Irradiation and Surface Calculation software - Sunmapper PISC.

The deal, which has financial details undisclosed, was made including IP transfer with perpetual and universal usage rights.

The technology enables Otovo to ingest 3D surface point clouds generated with laser imaging (LiDAR), satellite imagery and stereographic reconstructed models, returning solar irradiation and individual roof surfaces for PV planning.

These advanced capabilities allow Otovo to make precise offers to homeowners looking to go solar using the best available prices and terms on Otovo's marketplace of solar installers.

Sunmapper, founded in 2014, developed its technology based on research from universities in Australia, USA and China and in cooperation with several Danish municipalities from 2015 onward. The technology has since been in use on sunmapper.dk, a service where Danes can browse rooftops on every building in the country and get results on how much solar power can be produced there.

Otovo, founded in 2016 by Simen Jørgensen, Andreas Thorsheim, Lars Syse Christiansen and Andreas Bentzen, plans, installs and operates solar cells on private houses and commercial buildings. The company employs 30 people based in offices from Oslo, Norway and Stockholm, Sweden.

Otovo has raised to date about $11M from investors including Akershus Energi, OBOS, Agder Energi Venture and angel investor Trond Riiber Knudsen