Founded in 2010, Enevo is a revolutionary company with a goal to transform the financial, environmental and social impact of waste. By gathering and scrutinizing data from refuse containers across the world, Enevo can form productivities and cut the cost of waste collection and incentivize recycling. Enevo simplifies, de-risks and enriches the waste management process, making a sustainable, waste-free environment a more achievable reality. Currently, the company has raised over $26m in private equity funding to date and continues to capitalize highly in R&D and geographic expansion. They are headquartered in Espoo, Finland, with offices in the U.S., United Kingdom, Germany, and Japan. Enevo proactively manages waste and recycling services and has an ultimate vision to turn waste into a valuable resource. They believe in their mission, communities to the knowledge, services, and tools to reduce waste.
Innovative Leaders of Enevo
Seven years back, one of Enevo’s co-founders, Johan Engstrom, looked outside his apartment window, and saw his waste container being collected, which was only half full. He called Enevo’s current CEO, Fredrik Kekalainen, to share his experience and determine how waste collection could be more efficient. After few late- nights brainstorming sessions, Enevo’s first sensor was built, and the rest is history. Fredrik initiated his first company in 1996 while studying at the Hanken School of Economics in Helsinki, Finland. Eightball Ltd., a pioneering mobile software business was successfully sold in 1999. He continued his startup journey as co-founder of Fathammer Inc., a developer of 3D graphics software systems for embedded and mobile applications. Fathammer was acquired by Japan-based Acrodea Inc., shortly before it went public on the Tokyo Stock Exchange in October 2006. Johan started his first company, Profile Media, in 1996, developing pioneering multiplayer games for mobile phones. After merging the company with an online marketing solutions company in 1999, Johan moved into online retailing by co-founding Hippodome.com, an online equestrian store. After selling the business, Johan moved to Meridea, where he worked as a senior software specialist developing mobile banking and security software. Four years before, co-founding Enevo, Johan worked as a General Manager at Japan-based Acrodea, Inc., heading the company’s European branch and the development of 3D graphics software systems for mobile phones. Johan holds an M.Sc. in Information Technology from Aalto University and fluently speaks English, Swedish and Finnish.
Reducing the Waste Burden by Facilitating Cost-Effective Services
Enevo manages all aspects of waste and recycling and ensures their clients only pay for the services they receive. They are doing this by placing ultrasonic sensors in waste containers that indicate how full it is at any given time and identify when the container should be collected. They perform some wizardry on this data, (waste analytics,) and their team uses this insight to manage each container more efficiently. Their services maximize the customer’s cost savings, reduce service calls, and eliminate overflowing containers. Enevo services various industries ranging from restaurants and retail to commercial and residential/multi-family housing properties. Their services are unique because they take the guessing out of what is happening at the container level; so much of the industry operates on assumptions.
In contrast, Enevo’s sensor collects accurate data about the waste levels, missed pickups and, collection schedules, and uses those metrics to help businesses become more proficient in the handling of waste. They also work with clients to reduce their waste on the front end and find alternate uses. Enevo wants to reduce the burden of managing the waste and recycling services so that their clients’ busy operations and facilities managers can focus on other aspects of their company. They are seeing that other solution providers will also have to move up the value chain and help take over management of aspects of their customers’ organizations. Gone are the days when a client used to wonder whether their billing was accurate or if they were paying for a service they did not receive, because Enevo has increased visibility that clients needed desperately. They help to pinpoint missed pickups and work with the hauler to look at the data and make a decision about how to resolve. They are like the waste services’ right-hand person who keeps them on track.
Energizing the Future goals
Since IoT is still maturing, Enevo is continuously working on making their platform and solution flexible, as a result they can incorporate not only their data but data from a variety of other sources as well. The ability to stay open and connected is the basis for IoT, and Enevo understands this very well. On the sensor hardware side, they are keeping up with the conversation around the low power technology that is coming to market.
Their goal is helping customers streamline their waste management operations and increase efficiency and transparency. The team is focused on providing an excellent service to their customers, and. Enevo believes they can do this by listening carefully and truly understanding customers’ needs.