Petter Ulset Chief Financial Officer, Otovo

Company

Otovo was founded in 2016 with the vision to bring clean and local energy to every home in Europe Today, Otovo is an online marketplace that organizes hundreds of local, high-quality, and qualified energy installers. They utilize proprietary technology to analyze the potential of any home and find the best price and installer for customers based on an automatic bidding process between available installers.

Otovo quickly became the market leader in residential solar in Norway. Since then, they have sold and completed thousands of solar systems across Europe and are now present in Norway, Sweden, France, Spain, Poland, Germany and Italy and plan to be live in 13 countries before the end of 2022.

Search Background

Otovo recently listed on Euronext Growth and launched the leasing company, European Distributed Energy Assets Holding (EDEA). Following this Otovo was facing a new stage in its development, and at the core of their value creation strategy is significant upscaling through both organic and inorganic growth. To support the expansive growth plan, Otovo was looking for a CFO with a strong track record.

Requirements

The CFO was expected to act as a close partner to the Board, owners, CEO and rest of the management team and bring strategic thinking, business acumen, and strong leadership skills. The right candidate would have extensive experience of supporting an ambitious growth company through its international expansion.

Result

Erevena helped Otovo hired Petter Ulset as Chief Financial Officer. Petter joined Otovo from Cognite, where he served as Senior Vice President of Corporate Development and was responsible for scaling Cognite’s offerings into new asset-heavy industries and geographies and heading the company’s strategy and corporate finance functions. Prior to Cognite Petter worked as Investment Manager for Aker ASA and for McKinsey & Company.