Jostein Malan, VP Renewable Energy at StormGeo and Christian Sjodin, CEO of Nena (photo: PRNewsFoto/StormGeo)
StormGeo – a global provider of decision support for weather sensitive operations for the shipping, offshore, renewable energy, corporate enterprise, media and aviation industries – has acquired all outstanding shares in Nena AS.
Nena, headquartered in Oslo, Norway, is an analysis house that delivers energy market insights. Nena provides price prognoses and market analysis to major utilities and trading entities, with weather data being a fundamental input component of its analysis. StormGeo currently provides energy trading analysis and services, and this acquisition complements StormGeo’s offering to propel the company into a leading position of production forecasts and price prognoses for the power markets.
“We are delighted to partner with a company that shares our commitment to quality and brings deep industry knowledge and sophisticated modelling capabilities. The combination of StormGeo and Nena will further enhance our big data capabilities,” says Kent Zehetner, CEO of StormGeo. “Our mutual customers will see the benefits of expanded global energy insights.”
Christian Sjødin, CEO of Nena says, “Nena, together with StormGeo, will meet new market needs and expand offerings to further enhance customer value. With StormGeo, we are a part of a world-leading company whose global reach and reputation give us access to a large customer base.”
According to Jostein Mælan, Vice President of Renewable Energy at StormGeo, “We have always acknowledged the quality of the market analysis from Nena. Together we will develop new energy market insight and couple outstanding market analytics with unlimited weather accessibility to further differentiate StormGeo in the industry.”