GEV

What GEV does

GEV is a consumer-owned cooperative (andelsselskab) multi-utility headquartered in Grindsted, Billund Kommune, Denmark, operating across electricity retail, drinking water supply, and district heating. The company serves approximately 7,000 households and businesses in Grindsted, Filskov, Stenderup-Krogager, and the newly added Vorbasse heating area, with electricity also sold nationwide through GEV Elhandel A/S under Denmark's free electricity choice regime. Revenue is generated through usage-based tariffs on water (~5,300 connections) and district heating (~4,000 connections across a 76 km network), plus consumption-based electricity retail with a 3.5 øre/kWh spot surcharge and 29 DKK/month subscription. Additional revenue streams include EV charging hardware sales and installation (Zaptec Go/Pro integrated with Monta), a recurring charging support agreement, and a new commercial "cold heating" tariff for low-demand premises.

The underlying technology spans district heating production from diverse sources — surplus industrial heat from IFF, wood chip boilers (2015), natural gas boilers, heat pumps, electric heating elements, and accumulation tanks — achieving 81% renewable share in 2025 and among the lowest heating prices in Denmark. GEV also operates CleanLab Grindsted A/S, a subsidiary running an EU-funded pilot (March 2024 – December 2026) testing electrolytic remediation of historic groundwater contamination, in partnership with ABB, Aalborg University, and ElectroCell Europe. GEV is governed by GEV a.m.b.A. (the cooperative) with a holding structure (GEV Holding A/S) encompassing GEV Varme, GEV Vand, GEV Elhandel, GEV Køling og Komfort, Grindsted Elnet, and CleanLab Grindsted. The business model is fundamentally anchored by the natural monopoly characteristics of water and district heating infrastructure, supplemented by growing optionality in nationwide electricity retail, EV charging, and environmental remediation services.

Name

GEV

Legal name

GEV Holding A/S

Website

https://gev.dk

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

GEV is a Danish consumer-owned cooperative multi-utility providing electricity retail, drinking water, and district heating to approximately 7,000 households in Billund Kommune, plus nationwide electricity sales and EV charging services.

Ownership category

akta.pro rank

Product category

Multi-Utility Services (Electricity, Water, District Heating)

NAICS

Water Supply and Irrigation Systems (221310), Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)

SIC

Water Supply (4941), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA)

akta.pro secondary industries

EV Managed Charging as Demand Response (Residential, Fleet, Workplace) (EUAFAGAL), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

Keywords

• Multi-utility services
• District heating supply
• Drinking water supply
• Electricity retail
• EV charging infrastructure

Headquarters

HQ city

Grindsted

HQ country

Denmark

HQ region

Europe

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Electricity trading (GEV Elhandel): GEV purchases electricity on the Nord Pool spot market and resells to customers with a spot surcharge of 3.5 øre/kWh plus 29 kr/month subscription. Customers pay consumption-based pricing with quarterly settlement. Revenue comes from the spread between wholesale and retail electricity prices plus fixed subscription fees.
2. Water supply (GEV Vand): Water supply to approximately 5,300 households and businesses in Grindsted, Filskov, and Stenderup-Krogager. Revenue generated through water tariffs based on consumption.
3. District heating (GEV Varme): District heating supply to approximately 4,000 households in Grindsted and Stenderup-Krogager, with expansion to Vorbasse. Revenue from heating tariffs based on consumption. GEV maintains among the lowest district heating prices in Denmark.
4. EV charging hardware and services: Sale and installation of Zaptec Go charging boxes (6,495 kr new, 4,000 kr replacement), plus monthly support agreement GEV Tryg Ladeaftale at 29 kr/month. Revenue from hardware sales and recurring support subscription.
5. Electrolytic remediation pilot (CleanLab): Pilot project funded by EU (Erhvervsstyrelsens Fond for Retfærdig Omstilling), samarbejde partners, and GEV to test electrolytic remediation technology. Not currently revenue-generating but positioned as future service opportunity.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

GEV is a consumer-owned multi-utility cooperative supplying electricity (GEV Elhandel), drinking water (GEV Vand A/S), and district heating (GEV Varme A/S) to roughly 7,000 households and businesses in and around Grindsted, Billund Kommune, Denmark. The company additionally sells and installs EV charging hardware (Zaptec Go/Pro with Monta smart charging) and runs a pilot electrolysis-based groundwater remediation project (CleanLab Grindsted A/S).

Product overview

GEV (GEV Holding A/S, CVR 25509080) is a local multi-utility company based in Grindsted, Billund Kommune, Denmark, serving over 7,000 households and businesses across the Grindsted area and, since 2025, electricity customers nationwide. Its product portfolio is organized around five operating entities: GEV Elhandel A/S (electricity retail, launched 2025) offers a single variable-rate spot product called GEV SPOT KVARTER with Nord Pool-linked pricing and quarter-hourly settlement; GEV Vand A/S delivers drinking water to ~5,300 connections; GEV Varme A/S supplies district heating to ~4,000 connections via a 76 km network with 81% renewable heat (2025), and is expanding into Vorbasse; GEV Køling og Komfort A/S provides comfort cooling/heating; and CleanLab Grindsted A/S runs a groundwater remediation pilot. GEV also sells and installs EV charging hardware (Zaptec Go and Zaptec Pro) exclusively to customers in Billund Kommune, integrated with the Monta app for smart charging management, and offers commercial heating rate products for low-heat-demand businesses.

Differentiator

Problem solved

Functional benefit

Products and services

• GEV SPOT KVARTER (Electricity Retail) Single-variable retail electricity product for households and businesses across Denmark, priced at Nord Pool spot rates with quarter-hourly settlement, a 3.5 øre/kWh spot surcharge and a 29 kr/month subscription. No sign-up or payment fees, no binding period.
• GEV Vand A/S (Drinking Water Supply) Drinking water supply to approximately 5,300 households and businesses in Grindsted, Filskov and Stenderup-Krogager, sourced from local groundwater and tested at least 12 times per year.
• GEV Varme A/S (District Heating) District heating supply to approximately 4,000 households in Grindsted and Stenderup-Krogager over a 76 km distribution network, with 81% renewable energy share in 2025. Among the 5 cheapest district heating companies in Denmark.
• GEV Ladeboks – Zaptec Go (Residential EV Charging Box) Residential EV charging station (Zaptec Go) sold and installed by GEV via partner BR-EL for customers in Billund Kommune with a GEV Elhandel electricity agreement. Includes standard installation and Monta app integration for smart charging; 6-month binding period.
• GEV Tryg Ladeaftale (EV Charging Support Subscription) Monthly support subscription (29 kr/month) for Zaptec Go EV charger users, providing Monta app features (SmartCharge, network of 400,000+ stations), setup help, app usage, updates, and troubleshooting.
• Zaptec Pro Commercial EV Charging (Housing Associations) Turnkey EV charging solution for housing cooperatives and owner associations in Billund Kommune using Zaptec Pro hardware with Monta administration, intelligent power balancing, and individual billing.
• Kold Erhverv (Cold Commercial District Heating) Reduced-fee district heating agreement for commercial premises with limited heating needs (max 12°C, minimum 25 m²), such as warehouses and workshops.
• District Heating – Vorbasse District heating service for Vorbasse, replacing individual gas systems with heat-pump-based heating supported by a natural gas backup boiler; ~780 tonnes CO2 saved annually.
• CleanLab Grindsted A/S (Electrolysis Groundwater Remediation Pilot) Pilot electrolysis-based groundwater remediation project targeting vinyl chloride and other contaminants at Billund Vand & Energi treatment site; uses ABB automation and explores grid balancing and heat recovery synergies.
• MitGEV (Customer Self-Service Portal) Online self-service portal for GEV customers to view consumption and invoices, set up PBS direct debit, update contact info, and receive consumption alerts across electricity, water and heating accounts.

Quantifiable outcome

• 81% of district heating delivered from renewable energy sources in 2025
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

13 partnerships are on record, tiered core and supporting.

• BR-ELcoreImplementation/ SI/ Consulting Partner · 1 January 2025Local electrical installer in Billund Kommune that performs EV charging box installations for GEV customers. GEV partners with BR-EL to ensure professional installation of Zaptec Go charging boxes, with the installer contacting customers to schedule installation after order placement.
• MontacoreTechnology or Integration · 1 January 2025Monta provides the charging app used with GEV's Zaptec charging boxes. Enables SmartCharge automatic charging when electricity is cheapest/greenest, access to 400,000+ charging stations across Europe, and intelligent monitoring of electricity prices and CO2 emissions.
• ZapteccoreTechnology or Integration · 1 January 2025Norwegian manufacturer of EV charging hardware. GEV offers Zaptec Go (residential) and Zaptec Pro (commercial/housing associations) charging stations. Products integrated with Monta app for smart charging management.
• NetssupportingTechnology or Integration · 1 January 2025Danish payment infrastructure provider handling GEV's billing through payment service, e-invoicing, and direct debit services. All GEV bills are issued via Nets.
• EnerginetcoreOthers · 1 January 2025Danish national energy grid operator responsible for transmission infrastructure, tariffs, and electricity market regulation. GEV and its customers interact with Energinet for grid tariffs, electricity declaration data, and regulatory compliance.
• Billund KommunecoreStrategic or Co-development Partner · 1 January 2025Municipality of Billund is partnering with GEV on district heating expansion to Vorbasse, following national policy to phase out individual gas systems by 2035. The collaboration facilitates the green transition in the municipality.
• ABBcoreTechnology or Integration · 1 March 2024ABB provides automation, control, and energy management systems for the CleanLab pilot project. This includes ABB System 800xA for 24/7 process control and integration, and ABB Ability™ OPTIMAX for energy optimization that automatically uses electricity when it's cheapest and greenest. The partnership supports grid balancing and strengthens the overall energy system.
• Aalborg Universitet (Aalborg University)coreStrategic or Co-development Partner · 1 March 2024Aalborg University tests and develops the electrolytic remediation method for the CleanLab project. The university provides research expertise in environmental remediation technology and methodology optimization.
• ElectroCell EuropecoreTechnology or Integration · 1 March 2024ElectroCell has manufactured and supplied electrolysis cells since 1984 for a wide range of electrochemical processes, primarily environmental applications. The company supplies electrolysis cells and provides knowledge about optimization and control of electrolysis systems for the CleanLab pilot.
• GeoDrillingsupportingStrategic or Co-development Partner · 1 March 2024Local company in Grindsted specializing in vertical geothermal drilling nationwide. Contributes knowledge about drilling costs and technological development in electrolysis. Exploring how geothermal-style boreholes can be integrated into remediation solutions.
• ATESsupportingTechnology or Integration · 1 March 2024Assists with assembly of the CleanLab plant and utilization of byproducts, including waste heat recovery.
• Energy Cluster DenmarkcoreStrategic or Co-development Partner · 1 March 2024Overall responsible entity for the CleanLab project under Erhvervsstyrelsens Fond for Retfærdig Omstilling (Danish Business Authority's Fund for Fair Transition). Provides coordination and network access for the broader remediation project.
• IFF (International Flavors & Fragrances)coreStrategic or Co-development Partner · 1 January 2024GEV receives surplus heat from IFF's production facility in Grindsted, which forms a major portion of the district heating supply. This industrial synergy demonstrates circular economy principles, utilizing waste heat that would otherwise be discharged.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Regional players

• HOFOR: Copenhagen-area multi-utility providing water, district heating, cooling, and wastewater services. Comparable utility portfolio but operates at much larger urban scale than GEV's Billund Kommune footprint.

Broad incumbents

• Ørsted: Danish-headquartered global leader in offshore wind and renewable energy with district heating activities in Denmark. Comparable renewable transition narrative and Danish energy expertise, but vastly larger scale and offshore focus.
• Trefor (now part of Norlys): Danish multi-utility in southern Jutland providing electricity, heating, water, fiber, and EV charging. Now part of Norlys; comparable regional multi-utility footprint near GEV's territory, with broader service breadth.
• E.ON Denmark: Major European utility with electricity retail, EV charging (E.ON Drive), and energy services in Denmark. Comparable EV charging and electricity retail offerings to GEV Elhandel but at national scale with broader portfolio.

Direct peers

• DIN Forsyning: Danish multi-utility cooperative providing electricity, water, district heating, and waste services in Esbjerg and surrounding area. Closely comparable to GEV as a regional andelsselskab multi-utility serving small-to-mid Danish kommunes.
• Verdo: Multi-utility based in Randers, Denmark, supplying electricity, district heating, water, fiber, and EV charging. Directly comparable business model and product portfolio to GEV, including green transition focus.
• NRGi (formerly EnergiMidt): Danish consumer-owned energy company providing electricity, fiber, EV charging (Clever), and energy services in central Jutland. Closely aligned with GEV's electricity retail + EV charging strategy and cooperative origins.
• Andel (Sampension/Andel Energi): Large Danish consumer-owned energy cooperative with electricity retail, EV charging (Clever network), and energy services. Comparable cooperative ownership structure and electricity retail product mix to GEV Elhandel.
• SEF (Struer Energi Forsyning): Small Danish municipal multi-utility supplying electricity, water, and district heating in Struer, western Jutland. Highly comparable in scale (~20k customers), product mix, and Danish municipal utility positioning to GEV.

Emerging players

• Clever: Denmark's leading EV charging operator, partly owned by energy cooperatives including Andel. Competes directly with GEV's EV charging offering in Billund Kommune but operates at nationwide scale with a charging network and app.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gev-a-s
• Xx.com/gevdk

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GEV