John Berger launches US Company under licensing agreement with Otovo
John Berger launches US Company under licensing agreement with Otovo
Reference is made to Otovo’s Q2 2025 financial report, where it was disclosed that the Company has licensed the Otovo brand in the United States to a company owned by William J. (“John”) Berger, a member of the Board of Directors of Otovo ASA.
Mr. Berger’s company has now launched Otovo USA in Texas, US. Otovo USA will operate independently under the licensed brand providing services to owners of solar and storage systems as well as related equipment, leveraging its proprietary Endurance AI platform. Otovo ASA holds no ownership interest in Otovo USA.
No financial or operational obligations are expected to accrue to Otovo ASA beyond the agreed licensing terms. Licensing revenues in 2025 and 2026 are expected to have an immaterial impact on Otovo ASA’s financials.
Please see attached Otovo USAs press release issued today as part of their launch.
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For further queries, please contact:
Andreas Thorsheim, Chief Executive Officer
Phone: +47 93 06 51 78
Petter Ulset, Chief Financial Officer
Phone: +47 93 60 26 43
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About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo is a marketplace that organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.
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