Otovo and Green Panel Launch Otovo GP JV to Scale Multi Country Energy Services

Oslo, Norway, March 2, 2026 – Otovo ASA (“Otovo”), a leading home energy service provider, today announced it has entered into an MOU with the Israeli energy service group Green Panel, to form Otovo GP, a new 50/50 joint venture established to provide field service, replacement, maintenance, and logistics services for residential and commercial energy systems across Europe. Subject to definitive agreements and satisfaction of closing conditions, it is expected that the joint venture will be established within the first half of 2026.

Otovo GP is expected to enter into an agreement in the near term with a large, global original equipment manufacturer (OEM) of batteries, inverters, and other equipment for homes and businesses to support end customers in multiple European markets. The expected agreement would initially cover Spain, Portugal, Sweden, Norway, and Slovenia, among other countries, representing more than 250,000 installations/homes at launch, with the expectation that additional countries will be added over time as Otovo GP demonstrates strong performance in resolving customer issues and meeting service requirements.

“This joint venture creates a scalable platform to deliver high quality field services across Europe for a major global OEM. We believe the combination of Otovo’s breadth and Green Panel’s service expertise positions Otovo GP to solve customer problems quickly and consistently,” said William (John) Berger, Chief Executive Officer of Otovo. “Although Otovo already has one of the largest geographic service capability footprints in the world, this JV represents another significant step in Otovo’s strategy to deliver scaled service capabilities to partners addressing power service needs for homeowners and businesses. The joint venture will add both scale and operational depth to solving customer service challenges across Europe.”

“We are excited to partner with Otovo to build Otovo GP into a multi country field service operation focused on execution quality and operational excellence,” said David Touti, Founder and Chief Executive Officer of Green Panel.

Otovo GP will combine Otovo’s pan European footprint and operating capabilities with Green Panel’s established field service experience to build a scaled, multi country field service platform. The joint venture is designed to solve customer problems with solar, batteries, EV chargers, and load management equipment and systems quickly and efficiently through a unified service model spanning dispatch, logistics coordination, and on-site execution by certified technicians, as customers increasingly expect faster resolution, clearer accountability, and consistent standards across borders.

About Otovo Otovo is an AI-Native energy services company in Europe and the United States. We combine real-time equipment monitoring, rapid repairs, dependable power supply, and grid participation into a single, seamless service–delivering maximum service at a minimal cost. Endurance, Otovo's industry-leading AI platform, continually monitors installed equipment in homes and businesses, optimizes the entire service process from problem detection to resolution, and coordinates repairs around the clock. “Your Power, Backed by Ours.” Otovo is listed on the Euronext Oslo Stock Exchange under the ticker OTOVO. Visit us at otovo.com

About Green Panel Green Panel is a Tel Aviv, Israel headquartered field services company supporting residential and commercial energy equipment across multiple markets in the Europe, Middle East and Africa (EMEA) region. The company provides on-site service execution, logistics coordination, and technician operations for solar and related home energy systems.

The above includes forward-looking statements including goals, projections, targets, and plans based on current expectations and assumptions. Actual results may differ materially due to risks and uncertainties, including those described below. We do not undertake to update forward-looking statements except as required by law. This is not an offer to sell securities.

Execution risks include: the ability to hit sales, margin, and deployment timelines; dependency on third-party installers/OEMs and data providers; variability in customer acquisition cost and payback; working-capital and financing availability; regulatory and compliance changes (telemarketing/TCPA, privacy, and state consumer rules); concentration of customers and partners; technology and data security incidents; and general economic conditions that affect demand and pricing.

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Media Contact Matt Dallas 917-363-1333 matt.dallas@icrinc.com