We are pleased to relay that Ferroamp won the Industry Award of Techarenan Challenge 2021. Techarenan Challenge is an annual entrepreneurship competition open to all Swedish and Nordic startups and scaleups companies.

Ferroamp entered the competition earlier this year and was selected from close to 500 entries as one of the 50 finalists recognised as the most innovative companies in the Nordics. The final stage of the competition took place last week at the occasion of the Techarenan Summit, where the 50 finalists pitched their solutions. Ferroamp stood out and won the Industry Award.

Ferroamp develops and manufactures energy and power optimisation solutions for properties that enable increased electricity use despite power shortages through phase balancing and battery storage. The scalable and modular system is based on a hub that collects data from other components to optimise the energy flow between solar panels, energy storage and the grid, using advanced algorithms. The company has several patents, is listed on the First North Growth Market and currently sells its products in Sweden, Norway, Finland, the Netherlands and Germany.

The jury motivated their decision with the follwoing: “As vehicles are electrified and more and more electricity is produced through solar cells, the need to be able to use the electricity grids increases efficiently. Through a scalable solution for local electricity networks in one or more properties that are integrated with both production and storage, the available capacity can be used with maximum efficiency. The company's innovative technical solutions reduce energy losses and facilitate the transition to a more sustainable way of living. Ferroamp electrifies the future! ”

"I am extremely proud that we win the Industry Award", says Krister Werner, CEO of Ferroamp. "We see an increased demand for solutions to meet the capacity problems in the electricity grid and the fact that we win the Industry Award is another confirmation that our innovative EnergyHub system is needed to support energy transition. Our products and systems are just in time", adds Ferroamp's CEO Krister Werner.

Ferroamp's founder and CTO Björn Jernström carried out the final pitch that took Ferroamp to victory in the Industry Award category. "It is such a great feeling to win the Industry Award. It was tough competition with many interesting and talented companies among the finalists. The award is a proof of the benefits of our innovative technology, which makes property owners part of the solution to tackle power shortage and takes us towards a more sustainable society", says Björn Jernström.