Kiona at a glance
Kiona is the leading platform in the market for smart energy solutions. The group was formed in 2021 as a result of the merger between IWMAC (2001), Egain (2003) and Cebyc (2002) - with multiple ongoing acquisitions contemplated.
The key segments are retail & industrial refrigeration, multi-residential buildings, and public & commercial buildings. The merged group also provides several ancillary software services to their customers, such as communication, analysis, and intelligence.
Kiona is market-leading in their core segment. They have an unparalleled contractor network in Scandinavia with 90 partners in Norway and Sweden.
Key developments in 2020
The initial pro-forma figures of IWMAC, Egain, and Cebyc showcase strong financial development in 2020 with 8% total topline growth with a near fivefoldincrease in EBITDA to a margin of 10%. The group expects multiple sources of synergies going forward.
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. One third of all produced food is later wasted, making food waste the third largest emission of greenhouse gases. 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.
What is the outcome?
Kiona’s solutions can connect buildings, give insight into energy usage, and optimize consumption through a full- fledged SCADA solution and ancillary offerings. Once the customer is connected, the company offers real- time measurement and management, visualization, analytics and algorithmic optimization to enable property owners and grocery retailers to operate their assets in a significantly more sustainable manner, reducing emissions and consumption, and saving on property overhead costs and mitigating food waste issues.
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 Kiona, and they also benefit from a more stable indoor climate. Finally, through peak load control, energy providers will be under less strain and lighter energy infrastructure can support a larger population. Finally, the refrigeration control solutions provided by IWMAC help to reduce food waste, benefits that not only help the climate but may also bring down food refrigeration expenses.
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. Kiona 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. Kiona offers a highly scalable software platform and can in essence cover an infinite number of buildings. As Kiona’s user portfolio increases and gathers more data, it also becomes better at optimizing, anticipating, and supporting energy-saving decisions.
If Egain didn’t exist…
Without Kiona, or a similar service, property owners and tenants would be forced to bear the externalities stemming from unnecessary increases in energy consumption, slow progress on sustainability and increased real estate operating costs. 75% of buildings in Europe are currently energy inefficient and since they cannot all be torn down and replaced, retrofitting is a beneficial solution to the challenge.
Impact risk: what can go wrong?
Data handled by Kiona is not particularly sensitive, 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. Kiona continuously invests considerable amounts of capital and effort in R&D to counteract these risks.