Provider of AI driven software solutions

About

eSmart Systems builds and delivers the next generation software solutions for inspections of powerlines, grid maintenance planning and energy flexibility optimization. We target utilities worldwide and offer reduced costs and prolonged asset life with the use of our AI-powered solutions.

The company is based on more than 20 years of international experience in establishing and operating knowledge based, leading IT and energy related companies targeting global markets.

eSmart Systems originates from the renowned IFE environment (Institute for Energy Technology). The company was founded in 2012 by an experienced team previously responsible for large IT service exports including delivery of the world's first power exchange to Nord Pool, the Nordic Power Exchange, in 1991. Since 2012 the company has grown rapidly and currently consists of almost 80 employees with offices in Norway, Denmark, the UK, and US. 

Key owners of the company are Kongsberg Digital, Energy Impact Partners, Equinor Energy Ventures, Nysnø, innogy Ventures and several Norwegian utilities.

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Accelerate the transition to a sustainable future

eSmart Systems is being built by people able to capture trends and utilize opportunities. Be it next generation grid management systems, image recognition to drastically improve infrastructure inspections or driving customer and end-users engagement - being at the forefront of future solutions is in our team’s DNA.

We envision a future of sustainable societies. We believe this will be best achieved through our unique combination of domain expertise, machine learning, and data engineering. eSmart Systems’ AI driven software solutions enable our customers to operate more efficiently, resulting in both social and environmental benefits.

Our solutions can predict, detect, and prevent undesired critical infrastructure events, such as power outages. Reduced failure rates, extended asset life and reduced maintenance have economic benefits, both for our customers and the end users. At the same time, more efficient use of the power grid, reduces the need for further development of the transmission infrastructure, helping to protect nature including biodiversity. Our products also include a solution to make energy trading between local market prosumers possible. This is a prerequisite for the shift towards increased distributed production of renewable energy. We are proud to contribute to accelerating the transition towards a sustainable development.

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Mission

eSmart Systems creates intelligent solutions to accelerate the transition to a sustainable future, by developing innovative technology to the energy market – to the people.

The key to our success is competent and dedicated people constantly seeking to learn, improve and drive change.

Vision

A more intelligent and sustainable future for all.

Our vision is sustainable societies. A world where infrastructure assets and resources are efficiently and intelligently managed and maintained. A world powered by eSmart Systems.

Values

eSmart Systems’ achievements are not only measured by what value we create, but by how we create it. This is why our core values are:

  • Integrity
  • Innovation
  • Excellence
  • Teamwork

Management

eSmart Systems is led by an executive team with more than two decades of successful and extensive international experience at establishing, growing and operating world-leading, knowledge-based IT companies in global markets.

Board of Directors

Our Board of Directors reflects eSmart Systems’ national and international ambitions. Board members have extensive and leading experience in energy and new, disruptive technologies.

Arndt Neuhaus

Senior Advisor, Former CEO (RWE Germany/RWE Retail)

Arndt Neuhaus

Senior Advisor, Former CEO (RWE Germany/RWE Retail)

Arndt studied Chemistry and Business Administration in Marburg, Bristol and Berkeley. After graduation to Ph.D. in Natural Sciences he worked for McKinsey & Company, Inc. in the basic materials sector and utilities, before he became head of Corporate Development/Strategy at RWE Group. He worked over 15 years in various management positions at RWE as member of the Group Business Committee, CFO of downstream divisions, CEO of the German downstream business (grids, retail) and CEO of the international retail division. After leaving RWE in 2016 he works as a senior advisor and investor in startups.

Joseph Sirosh

Chief Technology Officer at Compass

Joseph Sirosh

Chief Technology Officer at Compass

Joseph is the Chief Technology Officer for Compass, where he leads the development of the real estate industry’s first end-to-end platform. Until Dec 2018, Joseph served as Microsoft’s Chief Technology Officer for AI. During his five years at Microsoft, he also held product and engineering responsibility for all enterprise database, big data and AI products, with 1,700+ engineers.

Prior to Microsoft, Joseph spent nine years as a VP of Technology at Amazon where among other things he managed the Global Inventory Platform for Amazon’s Consumer Business, and built the machine learning and Transaction Risk Management teams. Joseph holds a PhD and MS in Neural Networks from the University of Texas at Austin and a Bachelors from the Indian Institute of Technology, Madras.

Nils Ole Krekling

Group Vice President at Kongsberg

Nils Ole Krekling

Group Vice President at Kongsberg

Nils Ole Krekling is Group Vice President of Corporate Business Development at Kongsberg Gruppen ASA. He has held several positions in strategy, business development and finance since he joined Kongsberg in 2009, and has extensive industry experience in M&A and strategic partnering arrangements. Nils Ole holds a master’s degree in finance from the Norwegian School of Economics and Business Administration and an executive program in strategy from INSEAD.

Erik Åsberg

CTO at eSmart Systems

Erik Åsberg

CTO at eSmart Systems

Erik is CTO at eSmart Systems with 20 years’ experience in software development within the energy space, mainly using Microsoft and Oracle technologies. The last four years he has been focusing on architecture and design of Big Data technologies, all on the Microsoft Azure platform.

Erik Åsberg was appointed Microsoft Regional Director-Norway in 2019, for a second consecutive two-year period. This is a program that consists of 150 of the world's top technology visionaries chosen specifically for their proven cross-platform expertise, community leadership, and commitment to business results, and therefore nominated as trusted advisor to the developer and IT professional audiences and Microsoft.

Eivind Egeland Olsen

Chief Investment Officer at Nysnø

Eivind Egeland Olsen

Chief Investment Officer at Nysnø

Eivind Egeland Olsen is Chief Investment Officer at Nysnø He previously held the position as head of corporate finance for SR-Bank Markets. Eivind has extensive financial and investment experience from his time as partner in ABG Sundal Collier, Jefferies & Company’s Cleantech team and The Royal Bank of Scotland in London. Eivind holds a Master of Science in Finance and Economics from the Norwegian School of Economics (NHH) and Warwick Business School (WBS).

Michael Donnelly

Partner and Chief Risk Officer at Energy Impact Partners

Michael Donnelly

Partner and Chief Risk Officer at Energy Impact Partners

Michael Donnelly is partner and Chief Risk Officer at Energy Impact Partners. Mr Donnelly spent a 25-year career at General Electric focused on energy in various management functions, most recently acting as Head of Business Development for GE Energy-Industrial Solutions. Before that, he led the Energy Technology Group for GE Equity, where he focused on investments in power and energy technology companies in storage, distribution and energy management.

Mr. Donnelly also served as a Risk Officer for the Equity Group where he ensured proper underwriting for a broad array of equity and debt investments. He also served as a Risk Officer at GE Global Sponsor Finance where he underwrote and managed a portfolio of over $1B. Mr. Donnelly holds a Bachelor of Science Degree from the U. S. Merchant Marine Academy and an MBA from the Darden Graduate School of Business Administration, University of Virginia.

Thor Olav T. Egeland

Investment Manager at Equinor Ventures

Thor Olav T. Egeland

Investment Manager at Equinor Ventures

Thor is an Investment Manager at Equinor Ventures, and has 5+ years of venture investment experience in the energy transition sectors. Thor has invested in European and US based companies within power and flexibility, data analytics and AI, solar and wind technologies, and has various board engagements with Equinor Ventures’ portfolio.

 

Prior to joining Equinor Ventures Thor held several international investment and business development positions in Equinor from 2009 to 2016.

 

Thor holds an MSc in Finance and Economics from Warwick Business School and a BSc in Economics from the University of Bergen and the University of Cape Town.

Jan Palasinski

Investment Partner at Future Energy Ventures

Jan Palasinski

Investment Partner at Future Energy Ventures

Jan Palasinski is Investment Partner at Future Energy Ventures since its inception in 2020. He has more than 15 years’ experience in cleantech and finance.

Before joining Future Energy Ventures, Jan has been part of E.ON's venture capital team since 2017, after having spent the previous 4 years at Innogy Venture Capital, both in Germany.

In the first phase of his career, Jan used to be an investment banker, driving renewable energy growth in Italy with project financing instruments.

Jan holds a Master's Degree in Economics and Management of Public Utilities from Milan's Bocconi University and a B.A. in History and International Relations from Roma Tre University.

Currently Jan serves as board member/observer in Future Energy Ventures’ portfolio companies Cuculus, eSmart Systems, Kiwigrid, Lumenaza, Nuventura, tado° and Thermondo.

Tor Ø. Frydenberg

Senior Consultant at Smart Innovation Norway

Tor Ø. Frydenberg

Senior Consultant at Smart Innovation Norway

Tor Ø. Frydenberg holds a M.Sc. degree in Radio Technology and Information Systems from the Norwegian University for Science and Technology (NTNU).

Tor held the position of CEO at Ericsson, Norway from 1999 to 2010, and as Vice President of Ericsson Professional Services in the Nordic and Baltic regions for 5 years in the same period.

Prior to 1999, he served as General Manager of Ericsson Radar, Kongsberg Ericsson Communications and Telettra Norge. Tor began his career as a scientist at Telenor Research & Development.

He is currently serving as an investor, chairman and member of the board for a number of start-up companies. At Smart Innovation Norway, he is engaged as a Special Advisor and Senior Consultant, specifically within the ICT industry.

Siri Kalvig

CEO at NYSNØ

Siri Kalvig

CEO at NYSNØ

Siri M. Kalvig is CEO of the new Norwegian sovereign wealth fund geared toward climate investments, Nysnø Climate Investments AS.  She holds a Master of Science in meteorology and a Ph.D. in offshore wind energy. Prior to her position in Nysnø, Siri headed the research network for clean energy at the University of Stavanger. She has founded several businesses and is actively engaged in finance and start-up companies within environmental technology. Siri began her career as a weather presenter at TV2. Together with TV2 she then established what went on to become the leading global provider of weather intelligence, StormGeo. Siri is passionately committed to addressing climate change, and she has created several national campaigns to spread awareness of and knowledge about climate issues. As the leader of Nysnø, Siri continues to battle climate issues, using finance and investments as tools to guide the capital flow in a direction in line with the Paris goals.

Knut H. H. Johansen

eSmart Systems' previous CEO

Knut H. H. Johansen

eSmart Systems' previous CEO

Knut holds a M.Sc. degree in Electrical Engineering and Computer Science from the Norwegian University of Technology in Trondheim, Norway. Knut is the founder of eSmart Systems AS, established in 2012. Prior to that, Knut founded and led Navita Systems, headed OMX Technology Energy Systems (now NASDAQ), founded and led Hand-El Scandinavia, a spin-off from the Institute for Energy Technology in Halden, Norway, and headed the department for energy systems at the Institute for Energy Technology. Knut has more than twenty years’ experience innovating, developing and delivering IT solutions to the energy industry world-wide.  He has delivered IT solutions to physical and financial power exchanges in Europe, North America, Asia and Australia beginning with the deregulation of the Norwegian power market in 1991, a precursor for deregulation processes worldwide. Knut has also delivered IT systems to the balancing, spot, and financial energy markets, as well as the clearing of exchange products and OTC to Nord Pool, the Nordic power exchange. He’s been responsible for ETRM and grid system deliveries to a large number of prominent energy companies, including E.ON, Statoil, Hydro, Statkraft, Fortum and Mercuria. Knut was the initiating driver behind of the Norwegian Centre of Expertise – Smart Energy Markets. NCE Smart Energy Markets is supported by the Norwegian Authorities.

Knut has more than twenty years’ experience innovating, developing and delivering IT solutions to the energy industry world-wide.  He has delivered IT solutions to physical and financial power exchanges in Europe, North America, Asia and Australia beginning with the deregulation of the Norwegian power market in 1991, a precursor for deregulation processes worldwide. Knut has also delivered IT systems to the balancing, spot, and financial energy markets, as well as the clearing of exchange products and OTC to Nord Pool, the Nordic power exchange. He’s been responsible for ETRM and grid system deliveries to a large number of prominent energy companies, including E.ON, Statoil, Hydro, Statkraft, Fortum and Mercuria.

Knut was the initiating driver behind of the Norwegian Centre of Expertise – Smart Energy Markets. NCE Smart Energy Markets is supported by the Norwegian Authorities.

Moritz Jungmann

Investment Principle at Future Energy Ventures

Moritz Jungmann

Investment Principle at Future Energy Ventures

Moritz Jungmann is Investment Principle at Future Energy Ventures since its inception in 2020; before he has been part of innogy early stage ventures since 2017. Moritz has experience in the field of clean tech, smart city and industrial technology solutions and leads the collaboration interface at FEV with strategic limited partners. He has gained entrepreneurial experience as a founder of two bootstrapped companies after graduating from Zeppelin University as MSc in Public Management and International Relations.


Moritz holds additional board director seats at Tracks, Skenario Labs, Calipsa, Holo-Light and Getaway.

News

 

eSmart Systems announces new CEO

Press release 29 October 2021 Henrik Bache appointed CEO of eSmart Systems Henrik Bache is appointed CEO of eSmart Systems, a leading provider of grid inspection AI-powered software. Founder Knut H. Johansen will become a board member with a focus on financing and strategy. 
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Naturgy partners with eSmart Systems to automate its overhead power line inspections utilizing AI

Transforming UFD's overhead line inspection from manual to automated through the DALI (Drone & AI Line Inspection) project. Grid Vision® AI-supported software will be used to inspect approximately 2.5 million images of UFD's energy infrastructure. eSmart systems will deliver inspection services for UFD’s overhead lines over the course of the partnership.
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Oklahoma Gas & Electric Company uses AI to assess and repair distribution pole damage

Gas & Electric Company ("OG&E"), a subsidiary of OGE Energy Corp. Announced today it begins a pilot program that uses artificial intelligence ("AI") to help reduce outages caused by equipment failures. As part of its grid enhancement program, OG&E will leverage collaborative AI-powered image recognition technology that enables engineers to complete distribution pole inspections with greater accuracy and helps to reduce manual review of images.
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eSmart Systems has been selected as a finalist in the Free Electrons 2021 start-up program

It has been an exciting journey over the last few months for eSmart Systems, we have been selected as a finalist in the Free Electrons 2021 program.  We started this journey in January of this year by applying to join the program.  
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