Halden, November 2010

Navita Systems, a leading provider of CTRM systems and EDM system for the global energy and commodity trading community, has announced the opening of a branch office in central Frankfurt, Germany. The new office will open on December 1, 2010 and serve Germany, Austria, and Switzerland.

“The German market has historically represented a story of great potential with a large number of significant asset owners, utilities, and energy consumer. We have learned that in order to deliver significant business value to our German customers, current and prospective, we have to be there. With the ever increasing sophistication of many German trading organizations, the growing interest in the German energy market from non-German players, and the emergence of an impressive pool of talent from the German energy industry, we have started to build our German organization and have now opened our first German office in Frankfurt. We need to invest in the largest economy in Europe and in adapting POMAX to this market.” said Knut Johansen, CEO of Navita Systems AS.

“We are moving into this market from a position of relative strength with a number of German customers and customers trading in German energy markets, and through being the #1 or #2 ETRM system provider in European power. Within a year, we intend to establish a significant operation with a full-fledged main office in Düsseldorf, covering sales, delivery and support. We believe that such an operation will allows us to effectively support industrial players as well as financial players in the energy markets in German-speaking Europe with the same value proposition as everywhere: full footprint, value for money, very short deployment time and flexibility built into the product.” said Grim Gjønnes, Dr. Ing., Head of Business Development in Navita.

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In an in interim period, the office will be headed by Dr. Grim Gjønnes. There are more than 100 Pomax installations in Europe, North America, Australia and Asia. Customers include Abitibi, Bruce Power, Clarksons, DB Energie, EdF Trading, E.ON, Finotec, GdF Suez, KS&T, Louis Dreyfus Armateurs, Mercuria, and Statkraft. Navita is Microsoft Gold Certified Partner, Oracle Solution Partner, and ThomsonReuters Solution Partner. Navita has offices in Los Angeles (US), Toronto (Canada), London (UK), Edinburgh (UK), Halden (Norway), Oslo (Norway), Stockholm (Sweden), and now Frankfurt (Germany).

More information about Navita can be found at www.navita.com