Volue ASA

Regulatory Filings • May 26, 2021

Volue awarded NOK 25 million from Innovation Norway for water digitalisation project

Volue awarded NOK 25 million from Innovation Norway for water digitalisation project

(Oslo, 26 May 2021) Volue ASA (Volue, OSE:VOLUE) today announces to be awarded NOK 25 million by Innovation Norway in a three-year project to accelerate the digitalisation of water by utilising real-time data and machine learning.

“As a pioneer of digital water technology in the Nordics, we are keen to help water companies and municipalities deliver clean water to the people and keep the fjords clean. By working with Innovation Norway, the country’s most important instrument for innovation and development of Norwegian enterprises and industry, Volue’s Water team will solve some of the challenges that the water industry faces nationally and internationally. We look forward to this three-year project which holds significant international expansion potential and business development opportunities,” says Trond Straume, CEO of Volue.

Innovation Norway has granted Volue contribution for a three-year project to solve water challenges by utilising available real-time data and smartly compiling this data using machine learning. The project will run over three years and Innovation Norway awarded NOK 25 million to the project.

“The challenges facing the water sector are many and are similar across countries. The loss of water from the drinking water system is such a challenge, and in Norway, for example, more than 30 per cent of water gets lost on the way from water treatment plants to the consumer. Volue’s approach to the problem is to utilise available real-time data and smartly compile this data using machine learning”, Straume adds.

The work in the project will be carried out in close cooperation with the water and sewage companies, and there will be regular meetings to ensure that what is being developed is as useful as possible.

By using new technology, Volue contributes to solving an important natural resource and environmental challenge. This is an example of Norway building competence in an important area and of a business community that develops competitive solutions to satisfy a global demand. We can help solve major societal challenges, both here at home and globally," says Håkon Haugli, CEO of Innovation Norway.

More than 12,000 professionals in Norway alone use Volue’s existing cloud solutions, and the trend of switching to cloud services will continue because of efficiency and security considerations.

“We want to develop solutions that provide benefits to the everyday lives of our water customers both nationally and internationally. Cybersecurity, in particular, is a topic that has a high focus in the project. For example, real-time data from various control systems must be handled in a secure way since the water industry represents critical infrastructure,” Straume concludes.

For additional information, please contact:

Trond Straume, chief executive officer, Volue +47 907 99 625

Arnstein Kjesbu, chief financial officer, Volue +47 970 47 699

About Volue

Volue is a market leader in technologies and services that power the green transition. Based on 50 years of experience, Volue provides innovative solutions, systems and insights to industries critical to society. Over 650 employees work with more than 2000 customers on energy, power grid, water and infrastructure projects that ensure a sustainable, flexible and reliable future. The company is headquartered in Oslo, Norway and active in 40+ countries.  ​

Visit volue.com for more information.​