Orkan invests in Straumlind

Orkan IS, a subsidiary of SKEL Investments, has reached an agreement to buy a 34% share in the innovation- and electricity sales company Straumlind ehf., which was established in the year 2020. Orkan manages 70 service stations all around Iceland and offers its customers energy e.g., in the form of electricity, methane and hydrogen.

Símon Einarsson, CEO of Straumlind

“Straumlinds objective has from the beginning been to offer its customers the most favourable price on electricity in Iceland. Icelandic households have shown great enthusiasm and the number of customers has grown fivefold since January.

Straumlind has developed its own software that uses artificial intelligence and automation. Recently Straumlind began offering its customers Night-time discount. With this new service Straumlind is hoping to support energy balancing, increase the efficiency of the electricity system and offer better prices.

The last two years have been like an adventure for the Straumlind team, and we are immensely grateful for the positive reception of Icelandic households and businesses. When we established Straumlind our objective was to use technology to offer better prices on electricity and be a positive influence in creating a more efficient electricity system in Iceland. We are confident that our cooperation with Orkan will strengthen Straumlind in this effort and we are optimistic for the future.”

Auður Daníelsdóttir, CEO of Orkan

“We look forward to adding Straumlind into the Orkan-Family. We believe that Straumlind aligns well with the values and vision of Orkan. With this co-operation Orkan will be able to introduce tens of thousands of its customers to smart solutions to lower their electricity cost. We want to be households first choice for energy and take an active role for the energy transition over the next decades”.