First contract within the power sector

OSLO, 29 June 2018
Induct AS has signed the company’s first contract within the Norwegian power sector.

The new client is one of the 140 Norwegian companies operating within power production and sales, power distribution and grid development, fiber and broadband services. 

The new contract has a value for the initial year of NOK 355.000 including consultancy services with an annual recurring software revenue of NOK 240.000.

«This is the first contract within the power sector. We are already in a dialog with many potential new customers», says CEO Alf Martin Johansen in Induct.

The client will use Induct in project portfolio management and collaboration, and to manage innovation initiatives.

Based on Induct’s experience in connecting a majority of Norwegian hospitals together in a digital collaborative network, the ambition is to develop a similar network within the power sector. Each power company is facing similar industry challenges and a large amount of initiatives exists in each company to address these.

«We look forward to deploying Induct’s software platform within this new sector and start building a new network based on our experience from healthcare», says Johansen.

As proven within healthcare, the actors in the power sector can also benefit greatly from sharing high value initiatives addressing common challenges, in a digital ecosystem.

This is a contract in the vertical Enterprises, which is one of the five verticals Induct focuses on (Health, Municipalities/cities, Enterprises, Education and Humanitarian sector). 

For further information, please contact:
Alf Martin Johansen, Chief Executive Officer
+47 90 17 94 35

About Induct
Based on eight years of collaboration with more than 250 organizations, Induct offers collaborative communities, delivered as "Software as a Service," that enable organizations to digitalize and manage business processes. This also include create, manage, track and measure the innovation process from idea creation through to final implementation and impact reporting. Induct enables its customers to connect with each other in larger networks to share best practices, while deploying and monetizing initiatives - all within a secure, collaborative, and access-controlled cloud-based network. Subscriptions is the main source of income for Induct. Induct has customers in 9 countries. Induct is listed on the Merkur Market list on the Oslo Stock Exchange with the ticker INDUCT-ME.


Posted on July 1, 2018 and filed under Stock announcements, Company news.