Grim Gjønnes

NAVITA and its flagship POMAX software system have an almost uncanny ability to help users make money in commodity trading, logistics, and risk management. No wonder. NAVITA and POMAX are both embedded in the DNA of today's commodity exchanges. In 1988, the Institutt for Energiteknikk (IFE) in Halden, Norway, was tasked with research that led to the formation of Nordpool, the world's first power exchange. IFE spun off these activities in 1996, forming Hand-El Skandinavia, which focused its resources and brain power on building enterprise system solutions for power exchanges. Seeing the tremendous upside in a solution that optimizes the profitability of commodity traders and producers, the OM Group acquired the company. When the opportunity presented itself in 2003, the executive team completed a management buyout of the company and named it Navita. POMAX has always been the core focus of Navita. In response to requests for increased commodity, functional, and market coverage, the company has invested more than half a billion NOK in the product suite over the years. Today, POMAX supports trading in electric power, gas, crude oil, coal, emissions, freight, weather derivatives, interest rates, currencies, and equities. There are today more than 100 POMAX installations in Europe, North America, Australia and Asia. Customers include E.ON, EDF Trading, Norsk Hydro, Statkraft, WA Power Exchange, Bruce Power, Abitibi, IMAREX, Louis Dreyfus Armateurs, and IMC Shipping. NAVITA has headquarters in Halden (Norway), and has developed into a global development, sales, delivery, and support organization with offices in Los Angeles (US), Toronto (Canada), London (UK), Edinburgh (UK), Oslo (Norway), and Stockholm (Sweden).