”WE'RE GETTING READY FOR TAKE-OFF”

During the quarter, we continued our efforts to build the future’s electricity company. Our focus in the quarter was to set an organizational structure that can handle a much larger business volume than what we have today. Therefore, we invested in new IT support to manage customer contracts and consumption, re-organized our customer service and – last but not least – built new digital solutions for web and mobile. Everything is designed to facilitate for ordinary people to become smart and up-to-date electricity consumers.

The new website and app will go live during the third quarter. On these platforms, consumers can follow electricity prices as well as their own consumption, both in cost and in traditional kilowatts. Access to such information is a prerequisite for individuals to be able to make smart choices, both at the moment and over time. We will continue to add more services and advice on how to become a smarter electricity customer.

Basically, we want to offer our customers clean electricity at a really good price. We actually do not even want to make money on the electricity we sell. When we launch Werel One, the new offering to customers, you will see how we intend to do it. We believe it will shake up the thoughts of many people, both customers and competitors.

The next step in our preparations is to further strengthen our finances. During spring, the ownership structure changed and we initiated several dialogues. Gergeo Invest has been joined by Larmag Invest as a major shareholder and we have also seen Everything Energy and two hedge funds enter as shareholders. Thus, the foundation is laid for the next step.

We are nearing ready for take-off. I look forward to an eventful autumn.

Peter Swartling, CEO