Ilari Anttila, CEO of EnerKey and Tuomas Siponen, Partner at Vaaka Partners
27. May 2021

EnerKey gets a new owner to accelerate international growth

Finnish EnerKey has succeeded in building a market-leading SaaS solution, helping property owners significantly to reduce their emissions and environmental impact. Intelligent software based on consumption data reveals buildings’ environmental impact and optimizes the use of electricity and heat. Vaaka Partners started EnerKey’s internationalisation in the Nordics and is now passing on the responsibility to Danish EG A/S for the next growth step.

– EnerKey has proven that with our Software as a Service (SaaS) our customers can achieve very concrete savings and make proven impact on sustainability. EnerKey has successfully started internationalise and now with our new home in EG we can see that we can accelerate our internationalisation and growth, comments Ilari Anttila, CEO of EnerKey.

Artificial intelligence finds energy and emission saving potentials in just seconds

The key to EnerKey’s success lies in the combination of data and artificial intelligence that makes the environmental impacts measurable and visible. EnerKey´s artificial intelligence feature, called Ines, not only finds, and locates problems. Ines benchmarks the use of resources and energy consumption with other similar types of buildings, utilizing data from over 20,000 facilities. Ines also makes concrete proposals for action to minimize energy consumption.

– It is quite typical that Ines finds potential to optimise building´s ventilation time programs – there is no need for the ventilation run at full power outside the building’s operating hours. Other typical saving potentials are inefficiencies and leaks related to heating or cooling, describes Ilari Anttila, CEO of EnerKey.

EnerKey not only provides less emissions, but also brings significant monetary savings. Artificial intelligence saves the time needed to analyse the environmental impact with human resources as it finds unnecessary energy guzzlers just in seconds.

– Biggest inefficiencies in resource consumption happen if consumption data is not systematically used to guide the decision making. In addition, annual consumption is cumulated over time. Correspondingly, significant savings can be achieved through systematic work. For example, Kesko PLC has succeeded in achieving annual savings of 5 million euros with our help and we are in a significant position helping them achieve their goal of carbon neutrality by 2025, Anttila says.

Further savings arise from the fact that EnerKey’s customers do not have to make expensive software investments, as EnerKey operates with Software as a Service (SaaS) model.

EnerKey is growing and the first doors to the international market have been opened

A particularly important discovery on the journey has been the decision to partner up with energy companies and utilities, who then offer services based on EnerKey’s SaaS platform to their own end customers. The start looks promising, as order volumes for recurring services have already tripled in the first quarter of this year.

Growth is pursued by joining the forces with local utilities and energy companies who sit on a huge amount of data that EnerKey can make transparent and useful also to the end customer. As a result, everyone wins: the energy company can better serve its customers, the customer can reduce emissions and unlock savings – and EnerKey, originally from Jyväskylä, can grow into an international success story. The future looks promising.

We have received several inquiries from utilities and energy companies across Europe, which is a great signal that there is a real demand for our services! We are in discussions with over 50 energy companies, our platform is piloted by a dozen potential partners and partnership agreements have already been reached with six energy companies. All in all, there is indeed a strong pull from the international market. And that suits us well – as we want to become the European industry leader number one, Ilari Anttila concludes.

EnerKey is just the company EG has been looking for

– Companies and organizations all search for ways to take positive climate action and comply with the forthcoming EU-regulation on non-financial disclosure, including the reporting on key figures on consumption of power, water, and other utilities. We want to ease that burden, making it easier for our customers to implement their climate action plans and report on the effect of them. With the addition of EnerKey, EG will be able to support and strengthen the offerings for our customers in their strides towards becoming increasingly sustainable and carbon neutral, says CEO Mikkel Bardram, EG A/S.

EG and the owner of EnerKey, Vaaka Partners, have signed an agreement regarding EG’s acquisition of the shares in EnerKey. Completion of the transaction will take place on 2 June 2021.

EnerKey SaaS factbox:

  • Artificial intelligence Ines is scanning continuously over 100,000 measuring points to find potential savings from consumption data.
  • Total of 140,000 measuring points managed in EnerKey SaaS.
  • 20,000 properties
  • 1,500 customers
  • Systematic approach to properties´ energy management with actual consumption data can lead up to 30% savings.
  • Turnover €6.2m (2020)
  • 65 energy and software professionals

More information:

lari Anttila, CEO, EnerKey,, phone +358 40 526 3133
Johnny Iversen, Executive Vice President, EG Public,, phone +45 2088 7366

About EnerKey:

EnerKey Sustainability & Energy Management System (SEMS) is one of the leading cloud-native SaaS solutions in the Nordic countries, for enterprises to manage resource data, energy consumption and sustainability. It holds ISO 50001 and ISO 14001 certification. The sustainability features include emissions reporting, waste reporting, traffic fuel monitoring and indoor air quality. EnerKey SEMS is used by more than 1,500 customers. EnerKey manages resource data generated by more than 140,000 measurement points across 20,000 properties. Powered by EnerKey is a white label platform solution for energy companies, utilities, and SaaS providers, who want to offer EnerKey´s market-leading tools to their end-customers, branded with their own logo and visual appearance.

Read more about EG EnerKey here

About EG:

EG delivers vertical software that helps our customers move their businesses further. EG has more than 1,500 employees, working primarily from locations in Scandinavia and a shared development center in Poland.  EG develops, delivers, and serves its own software to 21,000+ customers in the private and public sectors.  Read more about EG A/S