Solar cell company Otovo has signed an agreement to sell its portfolio of subscription-based solar cell systems to Swiss Life Asset Managers (SLAM) for a total of 105 million euros, equivalent to around 1.2 billion Norwegian kroner. This was announced in a statement on Friday morning.
The agreement includes the sale of shares in eight companies that own around 6,000 solar cell and battery systems in eight European countries.
– For Otovo, this is a milestone that frees up capital and refines our business model. It feels like reaching land after a long journey, says Otovo CEO Andreas Thorsheim in Friday’s statement.
Otovo shares shot up more than 145 percent on Friday.
