Otovo to Acquire Green Panel for $11 Million to Scale Global Energy Services Platform
Norway, June 23 -- Otovo ASA, a leading global energy service provider for residential and commercial customers, today announced it has entered into a letter of intent (LOI) to acquire Green Panel Solar Energy Systems Ltd. ("Green Panel") for $11 million to be settled partly in cash and in Otovo shares. Green Panel is Israel's dominant behind-the-meter energy service provider with expanding European operations.* Green Panel is expected to generate revenue and adj. EBIT of $12.8 million and $2.9 million, respectively, in 2026* At completion this acquisition will accelerate Otovo's expansion into the Middle East and further strengthens its position as a global leader* Synergies expected through integration of Green Panel's field operations on...
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