Enersize Oyj (“Enersize” or the “Company”) and Pure Positioning AB (“Pure”) have agreed to initiate a process with the objective of acquiring Pure’s operations. The signed letter of intent governs the initial terms of the transaction, which will be evaluated through legal and financial due diligence and further negotiations. Pure has balance sheet assets valued at over SEK 400 million, a significant turnover, and more than 2,500 shareholders. The final valuation, structure, and form of consideration will be determined in the final agreements. Based on current discussions and an indicative valuation, it is expected that following the completion of the transaction, the shareholders of Pure would own approximately 85 percent of the shares in Enersize, while the current shareholders of Enersize would own approximately 15 percent. The final ownership distribution will be determined in the final agreements.

Joint focus on energy efficiency and sustainability

Both companies are active within energy technology with a clear focus on efficiency and sustainability. Enersize has built its business around industrial energy efficiency and compressed air optimization, while Pure develops software platforms, patents, and modeling solutions within the energy and geothermal industries and pursues an active acquisition model focusing on technology- and energy-related opportunities. Both technologies address the same market trends – the need for energy efficiency, reduced carbon emissions, and local, sustainable energy supply – which means that the companies share strategic direction and objectives. A combination therefore does not represent a shift in business model but a strengthening and broadening of existing competencies. Enersize’s technological solution is applicable in Pure’s current operations, creating clear synergies between the companies.

About Pure

Pure is a Swedish technology group within energy and geothermal energy. Geothermal energy is renewable and sustainable energy in the form of heating, cooling, and power from deep-drilled energy sources – a billion-krona industry in the Nordic region.

Pure operates through its wholly owned independent subsidiaries. The group’s strategy is based on active ownership, optimization of subsidiaries’ operations, and growth through acquisitions. The company has unique domain knowledge in energy and large energy consumers, digital twins, artificial intelligence, and big data processing, and owns several patents, software, and modeling solutions within the energy sector.

Pure had revenues of approximately SEK 0.5 million in 2024. Through completed acquisitions, revenues for 2025 are expected to reach approximately SEK 50 million. On a rolling twelve-month basis, revenues amount to approximately SEK 200 million.

Pure’s first energy facility was commissioned in 2018 at Oslo Airport Gardermoen with two deep geothermal wells of 1,500 meters. The company has also built a facility together with Skanska and the Norwegian Directorate of Public Construction and Property consisting of four wells of 750 meters.

Strategic synergies

Enersize and Pure see significant synergies between their respective operations. Enersize specializes in compressed air optimization, energy efficiency, and industrial energy monitoring, while Pure develops energy solutions with the potential to deliver local and independent energy production around the clock.

– “We see great strategic potential in this collaboration. By combining our expertise in compressed air systems and industrial energy monitoring with Pure’s excellence in geothermal energy, we open up new application areas and strengthen our position in the energy transition. Our goal is to find a transaction structure that is value-creating for our shareholders while also strengthening our position in geothermal energy and energy-saving technologies,” comments Fredrik Arrigucci, CEO of Enersize Oyj.

A joint structure can also contribute to increased scalability and cost efficiency by sharing administrative and regulatory costs. The goal is to create a technology company with breadth, depth, and a future-oriented focus within sustainable energy.

– “By merging with Enersize, we are creating a strong and exciting company in the Nordic energy market. We see that the combination between the companies is powerful and that our joint customer offering will be very strong. We look forward to progressing through the negotiation phase and building the energy company of the future together,” says Lars Beitnes, Chairman of the Board of Pure Positioning AB.

Next steps

The LOI is not binding with regard to the implementation of the transaction but represents a mutual commitment to conduct a structured process up to a decision on potential completion. The parties have initiated legal and financial due diligence and negotiations with the aim of entering into final agreements.

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