Oslo, Norway, March 2, 2026 – Otovo ASA, a leading home energy service provider, today announced it has entered into a memorandum of understanding with the Israeli energy service group Green Panel to form Otovo GP, a new 50/50 joint venture established to provide field service, replacement, maintenance, and logistics services for residential and commercial energy systems across Europe.
The joint venture is expected to be established within the first half of 2026, subject to definitive agreements and satisfaction of closing conditions. Otovo GP is expected to enter into an agreement with a large, global original equipment manufacturer (OEM) of batteries, inverters, and other equipment to support end customers in multiple European markets, initially covering Spain, Portugal, Sweden, Norway, and Slovenia, among other countries, representing more than 250,000 installations at launch.
"This joint venture creates a scalable platform to deliver high quality field services across Europe for a major global OEM," said William J. (John) Berger, CEO of Otovo. "By combining Otovo's AI-native Endurance™ platform with Green Panel's deep field execution capabilities, we're positioned to set a new standard for energy service quality across multiple markets."
"We are excited to partner with Otovo to build Otovo GP into a multi country field service operation focused on execution quality and operational excellence," said David Touti, Founder and CEO of Green Panel. "Together, we bring complementary strengths that will enable us to serve hundreds of thousands of energy customers across Europe."
About Otovo
Otovo is an AI-Native home and business energy services company in Europe and the United States. We combine real-time equipment monitoring, rapid repairs, dependable power supply, and grid participation into a single, seamless service–delivering maximum service at a minimal cost. Endurance, Otovo's industry-leading AI platform, continually monitors installed equipment in homes and businesses, optimizes the entire service process from problem detection to resolution, and coordinates repairs around the clock. "Your Power, Backed by Ours." Otovo is listed on the Euronext Oslo Stock Exchange under the ticker OTOVO. Visit us at otovo.ai.
About Green Panel
Green Panel is a Tel Aviv, Israel headquartered field services company supporting residential and commercial energy equipment across multiple markets in the Europe, Middle East and Africa (EMEA) region, providing on-site service execution, logistics coordination, and technician operations for solar and related home energy systems.
The above includes forward-looking statements including goals, projections, targets, and plans based on current expectations and assumptions. Actual results may differ materially due to risks and uncertainties, including those described below. We do not undertake to update forward-looking statements except as required by law. This is not an offer to sell securities.