Enevo

Founded by Fredrik Kekäläinen and Johan Engström in 2010, Enevo was envisioned with the goal of transforming the financial, social and economical impact of waste.{{Cite web |title=About - Enevo |url=https://enevo.com/ABOUT.HTM |access-date=2022-08-07 |website=enevo.com}} The concept began to form in a conversation between Kekäläinen and Engström, who wanted to provide waste data from dumpster sensors to lower the cost of waste disposal.

In April 2013, Enevo raised €2 million (US$2.07 million) in funding from Finnish Industry Investment and Lifeline Ventures. The US subsidiary Enevo, Inc. was opened in July 2013 in Boston, MA.{{cite web|url=http://gigaom.com/2013/04/10/garbage-in-data-out-enevo-gets-funding-for-its-smart-waste-services/ |title=Garbage in, data out: Enevo gets funding for its smart waste services |date=10 April 2013 |publisher=gigaom.com |accessdate =Jan 7, 2014}} In November 2013, the company signed service contracts with waste management companies in Finland,{{cite web|url=http://www.enevo.com/news/enevo-announces-new-deals-with-finnish-municipal-waste-management-companies/ |title=Enevo announces new deals with Finnish municipal waste management companies |publisher=enevo.com |accessdate=Jan 7, 2014 |url-status=dead |archiveurl=https://web.archive.org/web/20140107144540/http://www.enevo.com/news/enevo-announces-new-deals-with-finnish-municipal-waste-management-companies/ |archivedate=2014-01-07 }} Norway, and Denmark.{{cite web|url=http://www.enevo.com/news/enevo-announces-new-deals-in-norway-and-denmark/ |title=Enevo announces new deals in Norway and Denmark |publisher=enevo.com |accessdate=Jan 7, 2014 |url-status=dead |archiveurl=https://web.archive.org/web/20140107144543/http://www.enevo.com/news/enevo-announces-new-deals-in-norway-and-denmark/ |archivedate=2014-01-07 }}

In August 2014, Enevo raised $8 million from Earlybird, Lifeline Ventures, Finnish Industry Investment, Draper Associates and Risto Siilasmaa, among others. The funding would be used to grow and bring the sensor-based waste collection system to new global markets.{{cite web|title=Enevo closes $8 million in funding |url=http://www.enevo.com/news/enevo-closes-8-million-funding/ |publisher=Enevo |accessdate=6 November 2014 |url-status=dead |archiveurl=https://web.archive.org/web/20141106164308/http://www.enevo.com/news/enevo-closes-8-million-funding/ |archivedate=6 November 2014 }} On 30 June 2015, Enevo secured another $15.8 million in funding from Foxconn, and several other organizations.{{Cite web |last=FinSMEs |date=2015-06-30 |title=Enevo Raises $15.8M in Funding |url=https://www.finsmes.com/2015/06/enevo-raises-15-8m-in-funding.html |access-date=2022-08-07 |website=FinSMEs |language=en-US}} A year later in August 2016, Enevo received a €15 million loan from the European Investment Bank.{{cite web |url=https://smartbuildingsmagazine.com/news/eib-loans-enevo-15m |title=Enevo receives a €15m loan from the European Investment Bank |publisher=smartbuildingsmagazine.com |accessdate=Jan 28, 2021 }}

Recycle Track Systems, Inc. announced the takeover of some Enevo's US waste services accounts in June 2020, as Enevo exited the waste services business and switched focus entirely on continuing the technology and software side of the business.{{Cite web|last=RTS, Inc|title=RTS Announces Acquisition of Enevo Inc.'s US Accounts|date=15 June 2020|url=https://www.rts.com/rts-announces-acquisition-of-enevo-incs-us-accounts/|access-date=2021-07-26}} Enevo Oy (the Finland-based parent company, IP holder) filed for voluntary bankruptcy a month later, in what was initially called a group restructuring effort with its creditors.{{Cite web|last=Kauppalehti|title=Enevo Oy konkurssipesä {{!}} Yritys- ja taloustiedot {{!}} Kauppalehti|url=https://www.kauppalehti.fi/yritykset/yritys/enevo+oy+konkurssipesa/31493688|access-date=2021-05-06|website=Tärkeimmät talousuutiset {{!}} Kauppalehti|language=fi}} The liquidation of Enevo was completed in May 2021.Länsi-Uudenmaa District court, decision 2141, journal no. 2020/3345, 2021-05-19.

Reen AS, a Norway-based spin-off from Europe's second largest telematics company ABAX Group, acquired part of Enevo's business from the bankruptcy estate. In June 2021, it was announced that while Reen AS would operate from the former Enevo office in Espoo, Finland and the UK branch, the Enevo brand would be retained for its US, Canada and Japan business and continue operating independently as Enevo, Inc. under separate ownership.{{Cite web|url=https://news.cision.com/abax/r/the-abax-venture-company-reen-acquires-enevo-group,c3363064|title=The ABAX Venture Company REEN acquires Enevo Group}}

In May 2022, Enevo, Inc. acquired the rights to the entire Enevo technology stack along with patents and the Enevo trademark from Reen AS.

{{Reflist|30em}}

• PRNewswire: http://www.prnewswire.com/news-releases/enevo-secures-12m-in-funding-to-accelerate-expansion-into-waste-services-300527212.html
• CNN Money: https://money.cnn.com/2016/11/16/technology/tech-trash-industry/
• Waste 360: http://www.waste360.com/fleets-technology/how-enevo-supporting-mission-serve-homeless-buffalo-ny
• Der Standard: http://derstandard.at/2000048542128/Helsinki-Muellabfuhr-mit-Sensoren-an-Abfalltonnen
• PSFK: http://www.psfk.com/2013/06/wireless-trash-cans-schedules-pick-up.html
• Fast Company Exist: http://www.fastcoexist.com/1682626/these-trash-cans-know-when-theyre-full-and-need-picking-up
• Popular Science: http://www.popsci.com/gadgets/article/2013-07/public-trash-cans-can-talk-back
• ArcticStartup: http://www.arcticstartup.com/2013/04/10/enevo-grabs-e-2-million-from-lifeline-ventures-and-finnish-industry-investment-to-improve-waste-management

Category:Waste management companies of Finland

Category:Waste companies established in 2010

Category:Finnish companies established in 2010