Pixii announce that it is recognised as the fastest-growing tech company in Norway, securing the top position in the Deloitte Technology Fast 50 award.
“Pixii’s proprietary solution combined with an incredibly impressive growth of 10.205 percent from 2019 to 2022 makes them the fastest-growing technology company in Norway and thus the winner of Deloitte Technology Fast 50 2023,” says Kasper Harbitz Erichsen, who is responsible for Fast 50 at Deloitte Norway.
The jury writes that Pixii has developed an advanced and innovative solution for battery-based energy storage that really hits a nerve in the green transition.
“We are extremely proud to win, and it is a great recognition for everyone in the company. The award carries a special meaning as it is a completely open ranking,” says Kenneth Bodahl, CEO of Pixii.
Pixii’s energy storage systems are based on PixiiBox, an advanced power electronics module that transfers energy from the grid to batteries and back to the grid when needed. Pixii’s technology stands out in the market for its modularity and scalability.
The modular design ensures that the systems are reliable and easy to maintain. This also allows Pixii to offer storage solutions to various customer segments: utilities, public and commercial buildings, industrial enterprises, entities balancing the energy grid (frequency market), and electric vehicle charging station operators.
And the strong growth continues. The company had revenues of NOK 177 million (about €16 million) in 2022. By the first half of this year, the turnover had already doubled from last year. More than 90 percent is export. According to Bodahl, the significant growth can be largely attributed to the electrification megatrend, which has resulted in a large and rapidly growing market.
”Our growth is largely driven by the electrification of the transport sector and society in general. When using intermittent renewable energy sources such as sun and wind, there will often be a mismatch between the time of production and consumption, creating a need for energy storage. Our technology plays a vital role in stabilising the power grid. We also benefit from the fact that we offer modular solutions that can be easily scaled. This means we are relevant for many market segments and facilities of various sizes,” says Mr Bodahl.
Deloitte Technology Fast 50 ranks a country’s fastest-growing technology companies based on revenue growth over the past four years.