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From left: OSO Hotwater Group CEO Roy A. Magnussen, Saint John Energy President and CEO Ryan Mitchell and Sigurd Braathen, owner of OSO Hotwater Group. Image: Submitted

OSO Hotwater Group sets up shop in N.B.

By Brad Perry Oct 4, 2023 | 2:43 PM

A European stainless-steel water heater manufacturer has established a subsidiary in New Brunswick.

OSO Hotwater Group has selected Saint John to headquarter its Canadian subsidiary, the company announced Wednesday

CEO Roy André Magnussen said it is an ideal choice given their longstanding history with Saint John Energy.

“Saint John Energy’s valuable contributions to the R&D department at OSO Hotwater Group have accelerated the development of the smart grid water heater products for both the European and Canadian markets,” Magnussen said in a news release.

Saint John Energy has been an OSO customer for more than 25 years. In 2022, the company chose the utility to host an ongoing pilot project to test out its latest smart water heaters.

Ryan Mitchell, president and CEO of the utility, said the announcement underscores the potential to grow the economic development opportunities tied to clean energy in the city and province.

“OSO is a very progressive, environmentally minded company that will help build up the energy innovation ecosystem here,” said Mitchell.

Magnussen also cited the expansion of shipping routes and rail connections through Port Saint John as a reason for calling Saint John home.

The port has significantly expanded its cargo capacity, lured new shippers and spurred enhanced rail connections through a $247-million modernization project.

“Port Saint John has a tremendous working relationship with Saint John Energy, and it’s great to see that the Port’s growing capacity and international trade connections are benefiting other organizations in our community,” said Craig Bell Estabrooks, president and CEO of the port.

OSO Hotwater Group has started recruiting senior sales staff for its new Saint John operation.