NRP Zero invests in Futurehome, a smart home energy management company
Futurehome AS raises NOK 50 million in growth capital from NRP Zero to help households optimize and save on their energy consumption through innovative energy management solutions.
Futurehome AS (“Futurehome”), a leading Norwegian home energy management company with more than 30,000 connected households, is proud to announce the successful completion of a Series A funding round, raising NOK 50 million from NRP Zero. NRP Zero manages the Nordic industrial investment fund NRP Green Transition I focusing on clean technology and sustainable solutions. This investment will enable Futurehome to expand its operations beyond the Norwegian market, while also launching new products within energy management.
Futurehome specializes in helping households save on energy bills through peak shaving to reduce grid tariffs, scheduling energy usage when the spot price for electricity is lower, and reducing energy consumption with day and night savings for heating. Their range of smart home devices such as thermostats, energy sensors, light control systems, sockets, smoke detectors and gateways are all connected via a Smart Hub. Coupled with a user-friendly app, this empowers users to optimize and manage their energy consumption in an efficient manner.
Erik Stokkeland, CEO and Co-Founder of Futurehome, said, “We are thrilled to partner with NRP Zero enabling us to accelerate the growth of Futurehome. The capital will enable us to continue providing innovative solutions and accelerate the growth of Futurehome and as such allow more households to reduce energy costs. Futurehome will continue to strengthen its position as the leading holistic home energy management company with open standards and create the best customer experience as we are committed to making the smart home experience more accessible, enjoyable, and cost-effective for everyone. Balancing energy usage in the household will be critical to the energy transition and the electrification of Europe, and we are excited to contribute to this important shift.”
Carl Petter Finne, Managing Partner of NRP Zero, expressed his confidence in the partnership, stating, “Futurehome is at the forefront of the home energy management market with a solid customer base in Norway, and we are looking forward to support the strong management team in their mission of creating more sustainable and smarter homes. Their user-friendly solutions and proven track record makes them an ideal partner for us to support, as we believe that balancing energy consumption within households is an essential part of the energy transition, and we look forward to working closely with Futurehome in the coming years.”