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 4+ 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.

News

 

Energinet and eSmart Systems partner to improve and streamline rust inspection

Energinet and eSmart Systems leverage synergies between human experts and AI-based analytics to succeed in the transition from manual to automated processes thanks to a revolutionary new Grid Vision® corrosion module.
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E.ON partners up with eSmart Systems to digitalize the inspection of overhead lines

Leveraging synergies between human experts and AI-based analytics, E.ON, one of Europe’s largest energy companies, and eSmart Systems, a leading provider of grid inspection AI-powered software, are joining forces to improve European distribution grid asset management by making inspection processes safer for people, more efficient for utilities, and more sustainable for the environment.
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eSmart Systems Elevates Customer Experience and Delivery Capabilities with Two New Customer Success Leaders

eSmart Systems, the energy industry’s leader in AI-based grid inspection and grid maintenance planning software, has added two new customer success leaders to capitalize on recent growth and continue delivering world class AI-enabled inspection programs with its utility partners. The new executives, Douglas Coene and David Anthony, join eSmart Systems with tremendous skills and experiences to strengthen eSmart’s delivery capabilities throughout Europe and North America.
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An interview with Jan Palasinski, Investment Partner at Future Energy Ventures - The venture capital platform that is shaping the future energy landscape in the European market

This year, German energy companies E.ON and innogy merged their venture capital teams and portfolios under a new venture arm called Future Energy Ventures. The new entity's mission is to identify, fund, and mentor some of the most exciting start-ups in the future energy sector. innogy Ventures, now Future Energy Ventures, was one of the investors that helped eSmart Systems raise 34,4 million USD of capital in 2019. As an owner, they have provided valuable support and have played a vital role in
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