The agreement, which relates to optimisation of hydropower production, is worth some NOK2.5m per year.
Powel, headquartered in Trondheim, Norway, provides software solutions and services to energy companies and public utilities. The company is a market leader in Scandinavia and has offices in Norway, Sweden and the US. Powel has some 220 employees and reported revenue of NOK219.6m in 2007.
One British pound (GBP) is worth approximately 10.06 Norwegian kroner (NOK).
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