Today Otovo is announcing that the next three markets to be launched are the
Netherlands, Belgium and Switzerland. These three launches follow the successful
market entries into Portugal, Austria and the UK this summer and will happen
within 2022.  

-- This is a very exciting year for Otovo, where we finalise our ambition of
becoming the first truly pan-European residential solar company. At the start of
this year, we decided that the time was right to secure this position by the end
of the year, and after launching the final three countries, Otovo will have
entered every major solar market on the continent, says Otovo CEO Andreas
Thorsheim. 

The Netherlands will in 2022 probably be the largest residential solar market in
Europe, and among the most mature globally. The value of solar energy has been
thoroughly proven here, and consumers are highly educated on the merits of solar
power already. 

Belgium is also a mature market for residential solar, with more installations
per year than more populous countries like France. Otovo will be among just a
handful of players offering solar on a subscription model in Belgium, a
significant competitive advantage.  

Switzerland is a quickly growing solar market, with a favourable subsidy scheme,
high electricity prices, and good solar conditions. Otovo expects large ticket
sizes, strong battery attachment rates and high subscription shares in this
market, all of which contribute to good unit economics. 

Thorsheim adds:
- These are among the more mature markets in Europe, and they remain fragmented,
with small installers comprising the bulk of the installation volume. We're
confident that our marketplace approach will contribute to the ecosystem in
these markets, and accelerate the adoption of solar.  
 
About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the
roof, and batteries in the home. Otovo is a marketplace that organises hundreds
of local, high quality and qualified energy installers. The company uses its
proprietary technology to analyse the potential of any home and finds the best
price and installer for customers based on an automatic bidding process between
available installers.

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