eSmart Systems is based on more than two decades of successful and extensive international experience at establishing, growing and operating world-leading, knowledge-based IT companies in global markets.
As a part of Institute for Energy Technology, eSmart Systems represents the core achievers from the development and delivery of the world’s first power exchange to Nord Pool, the Nordic Power Exchange, in 1991. IFE spun-off these activities in 1996 forming Hand-El Scandinavia, which focused its resources and brain power on building enterprise system solutions for power exchanges. These systems were delivered to energy exchanges like EEX in Germany, PowerNext in France, California Power Exchange and many more. Seeing the tremendous upside in a solution that optimizes the profitability of commodity traders and producers, Hand-El Scandinavia was merged with OMX Group and subsequently acquired by NASDAQ.
As a consequence of the deregulation processes during the 90’s, fundamental changes in SCADA / EMS systems, decision support systems and physical market systems were required. Due to these new requirements, Hand-El delivered several new solutions and products related to TSO/ISO (Transmission System Operator / Independent System Operator) operational centers. These solutions empowered users to monitor and control the grid and the market according to the new market rules.
When the opportunity presented itself in 2003, the executive team bought out the ETRM (Energy Trading and Risk Management Systems) and Physical power exchanges business and renamed it Navita. Navita developed and delivered its portfolio solutions, Pomax, to prominent energy companies globally, such as EDF, E.ON, Fortum, Mercuria, SEMO (Ireland’s IMO- Independent Market Operator), IMO in Perth Australia, Koch Industries in US, Bruce Power in Canada and many more. The eSmart Systems management team were also the initiators and key team members behind the development of Customer Information Systems, which were acquired by Tieto and renamed CAB. The CAB system has been delivered to a number of energy sales and grid companies, and is today a clear market leader in the Nordics with more than 3,5 million end-users handled by the system.
The activities mentioned above represent the ability to process huge data flows, accommodate massive changes due to market dynamics and the need for high quality systems because of their business-critical functions. We are persuaded that this experience is vital to developing the next generation smart grid software that will empower the industry to bridge the transition to an optimal energy system with optimal response capability and demand flexibility.
Our history tells a lot about our future.