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Otovo AS Class A ( (DE:89K) ) has shared an update.
Otovo, an AI-driven home energy service provider, has agreed to acquire California-based Solar Service Professionals Inc. (SSP), a specialized solar service company with an installed base of 38,000 customers, marking its strategic entry into California, the largest U.S. residential solar and storage market. The deal, which is subject to standard closing conditions, will fold SSP into Otovo’s U.S. service operations, giving the company an immediate on-the-ground presence and a strong customer pipeline to convert to its subscription model, which it expects to boost net income in 2026. By combining SSP’s established five-star service reputation with Otovo’s AI-native Endurance platform and virtual power plant model, the company aims to build a rapid-response, high-quality solar service offering in California that could support broader U.S. expansion and strengthen its competitive position in the fast-growing residential solar and energy management sector.
More about Otovo AS Class A
Otovo is an AI-native home and business energy services company operating in Europe and the United States, focused on home energy management, retail electricity, operations and maintenance, and grid trading via a cloud-connected Virtual Power Plant. Its Endurance platform uses real-time monitoring and artificial intelligence to optimize service from fault detection to repair, coordinating technicians and equipment to deliver reliable, low-cost power and enhanced customer service; the company is listed on the Euronext Oslo Stock Exchange under the ticker OTOVO.
Average Trading Volume: 769,361
Current Market Cap: NOK595.2M
For a thorough assessment of 89K stock, go to TipRanks’ Stock Analysis page.