ESG Expands European Presence with Acquisition of CUBS 

Enabling new growth opportunities for utilities and energy retailers in Denmark. 

CHORLEY, England and COPENHAGEN, Denmark, Tuesday 29th April 2025  

ESG have announced today the acquisition of CUBS, the leading provider of billing solutions for energy companies and electric mobility providers in Denmark. This acquisition expands ESG’s presence into Denmark while offering new opportunities for Danish energy retailers to innovate and grow their market share. 

A Shared Vision for the Future of Energy 

At the heart of this acquisition is a shared mission: helping energy retailers navigate the rapid shifts reshaping the industry. With the accelerated electrification of Danish society, utility companies and energy retailers are being challenged to offer new products and services—from EV charging and prosumer settlement to innovative billing structures. By joining forces, ESG and CUBS will deliver scalable, customer-centric solutions that meet these emerging needs. 

Matthew Hirst, CEO of ESG, captured our excitement, saying: 

“Our mission-critical software solutions are integral to the energy ecosystem. Leveraging our extensive market and technology expertise, we empower energy retailers and producers to thrive in today’s dynamic environment. This partnership will help CUBS customers to innovate in customer acquisition and retention. We are delighted to welcome the talented CUBS team to ESG, where we will continue to create modern and reliable solutions that help energy retailers to innovate, become more nimble, and gain market share – while increasing efficiencies.” 

ESG Helps Scale the CUBS Modern Energy Platform

The CUBS system is a cloud-based scalable billing solution that supports all business processes from consumption to billing for energy companies in Denmark. CUBS serves both large and small utilities that want to put the customer first and ensure transparent and reliable consumption settlement.

By providing a modern and flexible platform that supports emerging market trends like EV charging, prosumerism, and PPA settlement, the CUBS product has quickly become the most widely adopted and fastest growing billing solution in the Danish electricity market. Today, the CUBS solution is used by 30% of electricity retailers in Denmark.  

Peter Ulka, CEO of CUBS added:

“The accelerated electrification of Danish society has fundamentally reshaped the business needs of utility companies and energy retailers, challenging them to introduce new products and services in order to retain customers, drive growth, and increase market share. With the backing of ESG, CUBS will be able to support our customers in new ways as we leverage ESG’s expertise to add new features and even greater scalability to our modern energy platform. By joining ESG, CUBS will create many new opportunities for our clients and employees alike.” 

To learn more about CUBS, visit www.cubs.dk.