Otovo Completes $3 Million Equity Raise, Sells Assets for $2.4 Million

06:43 AM EDT, 10/23/2026 (MT Newswires) -- Otovo (OTOVO.OL) raised $3 million in gross proceeds through a private placement and agreed to divest assets for $2.4 million, according to a Friday release. The Norwegian behind-the-meter energy services provider also agreed to sell part of its shareholding in EDEA Europe, its 100% stake in EDEA Switzerland, and a portion of its residual assets to an undisclosed buyer to strengthen its liquidity. Meanwhile, the company will use the private placement proceeds to fund acquisitions, costs associated with its planned dual listing in the US, and general corporate purposes.