Henrik Bache appointed CEO of eSmart Systems

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. 

eSmart Systems was one of the first companies in the world to develop systems for the inspection of power grids based on Artificial Intelligence (AI). Today, a large number of energy companies in the US and Europe use Grid Vision® to inspect and maintain their transmission and distribution networks. Chief Strategy Officer (CSO) Henrik Bache will take on the position of CEO from 1 November 2021. Knut H. Johansen, who founded eSmart Systems in 2012, will become a board member and continue to work and advise on financing and strategy.

Henrik Bache is educated at Norwegian School of Management BI and has more than 10 years of experience in the financial industry. He joined eSmart Systems in 2015 and has held various senior leadership positions and previously worked in Singapore and Seattle, US.

“The company is in a unique position with Grid Vision and we have a fantastic momentum in a market that is growing strongly. The order intake for Grid Vision has increased by a factor of 3 compared to last year. We are therefore entering a period that will be characterized by scaling the company to meet the increased demand, as well as actively looking for opportunities to strengthen our offer through M&A,” says Bache.

International growth platform

This summer, eSmart Systems announced the combination with Verico, a company offering Enterprise Asset Management services and products to the utility sector. The combined company had total revenues of NOK 111 million in 2020 and 110 employees in Norway, Sweden, Germany, UK, The Netherlands, Sri Lanka and the US.

“We have fantastic staff, a high-tech and world-leading product, several of the largest global energy companies as customers and very solid investors with us on this journey. I’m impressed with what our highly skilled employees have achieved, and I am proud to have been at the helm of the company during this period,” says Knut H. Johansen.

“I’m very humble and proud of the trust shown to me by Knut and the board. eSmart Systems is entering a new phase as a company and I am very motivated to take the baton and build on the fantastic foundation that has been laid. Knut and I have worked closely and well together for the last 6 years and I want to thank him for an extremely educational period that has given me a strong platform,” says Bache and adds:

“With one of the world’s largest contextualized data sets within the industry, eSmart Systems is in pole position compared to its competitors. There is a significant network effect from aggregating customer expert input to create the best possible algorithm, resulting in a better product and more customers. The market is at a turning point, and I look forward to taking advantage of the opportunities that lie ahead.”

About eSmart Systems

eSmart Systems is a leading provider of AI-powered solutions for the inspection and maintenance of critical infrastructure. With our software solution, Grid Vision®, we revolutionize how Power Utilities operate and maintain their transmission and distribution networks. eSmart Systems offers a data-driven and condition-based approach to infrastructure inspections that can be managed from one single platform. We support companies worldwide by ensuring reduced costs, safer inspections, and prolonged asset life. For more information, please visit www.esmartsystems.com.