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In a scale-up company, the day-to-day life of a CFO is filled with tremendous busyness, diverse tasks and ambitious goals. Patrik Hjorth Danielsen from Emaldo knows all about this. So join us for a look inside the engine room of a company in the midst of an incredible scale-up journey and gain insights into how you can handle the unique challenges that arise when growth really accelerates.
Climate change is one of the greatest challenges the world faces these years. But fortunately, large and complex problems are often accompanied by innovative solution proposals and passionate individuals who are eager to contribute positively to the state of the world. For the scale-up company Emaldo, green battery storage is one of the paths towards a sustainable future.
Their vision is to create a greener – and cooler – world through innovative technological solutions that optimise the utilisation of solar and wind energy, reduce dependence on fossil fuels and ensure a more stable electricity grid.
And you can sense that vision from the moment you step into Emaldo's office. We have barely walked through the door before the CFO, Patrik Hjorth Danielsen, enthusiastically begins to explain Emaldo's product portfolio and tell us about the wild growth journey they are on.
"Emaldo wants to engage individual consumers as well as small and medium-sized businesses in the green transition. That is why we have developed a product that not only supports the sustainability agenda – but also provides an economic benefit for users. We want to help ensure that at the end of the day, you have made a positive contribution to the world", Patrik Hjorth Danielsen explains passionately.
"We believe we can win the market by having the best solution for the customer based on the most advanced technology. We deliver what the customer demands and have products they are happy with – and the product is super easy to install. That is the mindset we have integrated throughout the entire organisation," he continues.
Rapid growth and high ambitions
Emaldo's focus on being the best at meeting customers' needs has resulted in the company quickly positioning itself as a significant player in energy management systems.
With revenue growth from 25 million kroner in 2023 to 180 million kroner in 2024, the company's business model and the market need for their innovative solutions have been fully validated. And the strong growth has continued into 2025.
"We are on an enormous growth journey, and of course that is what we constantly need to calibrate to ensure we accelerate in a good and conscious way. We want to grow profitably and responsibly in relation to our customers, suppliers etc., and that is a balance we need to find," says Patrik Hjorth Danielsen.
With the wind at their back and ambitious visions for the future, Emaldo has now set course to reach a turnover of one billion kroner by the end of 2025. And although it is tempting to focus solely on the top line, Patrik Hjorth Danielsen emphasises that it is equally important to carefully manage liquidity and generally be adaptable and agile enough to adjust course when the situation demands it.
"We usually say that we are building the bridge whilst walking on it. And the future challenge is that the bridge's direction may change. The end goal is defined and clear, but the way we get there might be different. As a scale-up company, you are almost by definition volatile and therefore not yet a solid and strong business," he explains.
Emaldo: The energy solution of the future that pays off – both for you and the planet
Emaldo offers sustainable energy solutions with a focus on battery storage systems for private homes as well as small and medium-sized businesses. With Emaldo's products, the customer can:
- Utilise the full effect of solar panels and store the excess energy for use when the sun is not shining
- Charge the battery when energy is cheap and use the battery when energy would otherwise be expensive
- Help stabilise the electricity grid; a service for which the electricity companies pay both Emaldo and their customers.
It is both good for the environment and a sound business case.
Change is the norm
With Emaldo's rapid growth, ensuring that the business keeps up is a daily discipline, and it places high demands ‒ as conditions are constantly changing. The pace is fast, and it is impossible to keep up alone.
Therefore, it is about establishing solutions that create coherence across cultures and national borders. The infrastructure, systems and processes must be built in a way that can support a larger and more complex organisation. Patrik Hjorth Danielsen elaborates:
"The right hand needs to know what the left hand is doing. In some areas, we operate like a small company, but we are not that anymore. Therefore, we need tools and processes that are scalable and can be used throughout the company ‒ now and going forward," he emphasises.
Because in a scale-up, nothing stands still. Everything from HR, finance and legal to supply chain, production and negotiations needs to be refined and optimised ‒ a process that takes place every single day. Also at Emaldo. And this is where Basico enters the picture.
"I see Basico as the all-knowing advisor that I can always call and get quick and qualified answers. It provides enormous reassurance ‒ especially when there are areas that are not covered due to lack of resources or competencies. Whether it is reporting, transfer pricing policies, system considerations or marketing law," says Patrik Hjorth Danielsen.
Having a consulting firm with competencies across the entire spectrum of support functions on speed dial means that Emaldo has access to direct support for strategic, tactical and operational agendas. The collaboration gives Patrik Hjorth Danielsen a sparring partner who knows Emaldo's needs and can quickly advise and identify resource gaps, allowing the fast-paced growth to continue.
"One of our biggest challenges is that we cannot recruit at the pace at which Emaldo is growing. It is about ruthless prioritisation and delegating some of the tasks where we do not have the key competencies ourselves. And then acknowledging that there are others who can solve them far better than we can," he explains.
Photo: Lars Svankjær
Use resources wisely
In other words, there is no doubt that growth is thundering ahead at Emaldo. So what is next for this rapidly expanding company?
"A lot is going to happen," smiles Patrik Hjorth Danielsen. "I need to help support the growth, so it is about bringing in the right people so we can cover the areas where we are less strong."
He pauses briefly while thinking.
"We need solutions that complement each other, so we use our resources most efficiently. That will be on my agenda ‒ and also to support the business regarding growth and ensure that we have good, solid processes and implementation plans for the prioritised strategic initiatives and to support them in succeeding," he concludes with an expectant smile.
Is your company ready for the next growth leap?
We help companies through periods of significant change and hyper-growth like Emaldo.
During these periods, the company's support functions undergo intense development, as it is impossible to maintain precisely the staff (both in terms of numbers and competencies) that matches current needs.
We can supplement with the capacity and competencies that the company needs on its journey; and we can simultaneously provide guidance and advice on organisation, processes and system choices.
