Egain Group

Putting an end to wasted residential energy

Company details

Year Aquired

2016

Location

Sweden

Revenue (2019)

77 mSEK

Sector

Energy saving

Employees

42

Investment Themes

Resource Efficiency

Contact

If you want to know more about Egain Group please contact Gisle Glück Evensen at: gisle.gluck.evensen@summaequity.com

 

Egain at a glance

Egain is a leading Nordic technology/service provider enabling connected and energy efficient buildings, through remote optimization and climate-based control of central heating in multiapartment buildings. Egain is headquartered in Gothenburg, Sweden and founded in 2002. The company has a strong position in the Nordic region and a growing presence in Continental Europe.

 

Key developments in 2019

Egain continued to see positive revenue development: 2019 up 6.1% y-on-y. With a slimmer sales organization and new partner sales strategy, Egain has positioned itself to ramp up future growth profitably. The product offering and market fit improved with the acquisition of Metry which added new energy sources into product portfolio.

 

Impact Dimensions

The challenges we face

Buildings account for ca. 40% of Europe’s energy consumption and 36% of Europe’s emissions. 75% of buildings in the EU are energy inefficient. In 2050, 95% will still be in use. Meanwhile, electricity consumption is set to increase in the next 20 years with close to 60% being used in buildings. Today, despite the fast growth of “prop tech”, only a tiny fraction of the 40 million facilities in the world are benefiting from this technology, and already connected buildings suffer from different types of legacy equipment from differing vendors.

 

%
of buildings in EU are energy inefficient
%
of emissions in Europe are estimated to come from buildings

 

What is the outcome?

Egain’s solutions can connect buildings, give insight into energy usage, and optimize consumption. Once the building is connected, Egain offers real-time measurement and management, visualization, analytics and algorithmic optimization to enable property owners to operate their portfolios in a significantly more sustainable manner, reducing emissions and consumption, and saving on property overhead costs.

 

Who are the stakeholders?

It is not only the property owners who benefit from increased sustainability and cost savings. Tenants can be reassured of a reduced carbon footprint if their building is optimized by Egain, and they also benefit from a more stable indoor climate. Finally, through peak load control, energy providers will be under less strain and a lighter energy infrastructure can support a larger population.

 

How big is the effect, and does it last?

Customers can save 10 – 15% of their energy consumption (12 kWh average savings per sqm per year), reducing CO2equivalent emissions by 1.5kg per sqm per year. Egain already covers 300,000 apartments in 11 countries, with up to 80,000 sqm per building. The current installed base covers the indoor climate of approximately 800,000 people. As the software platform is scalable, Egain can in essence cover as many buildings as are willing to sign up, and as the solution covers more data it also becomes better at optimizing, anticipating and supporting energy saving decisions.

 

If Egain didn’t exist…

Without Egain, or a similar service, property owners and tenants would be forced to either bear the externalities stemming from of unnecessary increase in energy consumption and slow progress on sustainability, in addition to increased real estate operating costs. Retrofitting addresses the 75% of buildings in Europe that are currently energy inefficient. They cannot all be torn down and replaced.

 

Impact risk: what can go wrong?

Data handled by Egain is not of a particularly sensitive nature, but there are unpredictable threats. Issues can arise in the form of data breaches or system malfunctions. Also, if the company experiences technological disruption or superior competing solutions, the current product portfolio may not achieve its full impact. Egain continuously invests considerable amounts of capital and effort in R&D to counteract these risks. In addition, Egain has moved its services to Google Cloud, which is recognized as the most sustainable cloud service in today’s market.

Year Aquired

2016

Revenue (2019)

77 mSEK

Employees

42

Investment Themes

Resource Efficiency

Sector

Energy saving

Location

Sweden

Contact

If you want to know more about Egain Group please contact Gisle Glück Evensen at: gisle.gluck.evensen@summaequity.com

Website

Video

SDG Alignment
SDG Wheel
SDG 7
SDG 11
SDG 13
KPI reporting
SDG 8

REVENUE (SEKm)

2019
+3%
77
2018
75
SDG 11

Kwh Saved

2019
209m
2018
209m
SDG 7

SQm SAVED

2019
17
2018
17
SDG 13

TONS NET C02 AVOIDED

2019
+1
26,426
2018
26,176

Learn more about eGain

Summa expands footprint in Smart Energy market with investment in Metry

Stockholm, 5 March 2019 – Swedish energy tech company Metry, whose platform helps the real estate sector digitise and structure energy data to become more energy efficient, is announcing a rights issue and investment of 14 million SEK. The funds will support the continued development of the company’s position as an unbiased/independent actor in the…

Read the story

Summa expands footprint in Smart Energy market with investment in Metry

Stockholm, 5 March 2019 – Swedish energy tech company Metry, whose platform helps the real estate sector digitise and structure energy data to become more energy efficient, is announcing a rights issue and investment of 14 million SEK. The funds will support the continued development of the company’s position as an unbiased/independent actor in the...
Learn more