Our story
The beginning of a better way

We saw first-hand how much money and resources communities were losing to leaks, overwatering, and inefficient systems. No one had any answers. To understand the problem, we started photographing water meters every morning and entering the numbers into Excel. The approach worked. Hidden leaks surfaced, waste was reduced, and costs dropped. But the process was far too time consuming to sustain.

With a background in technology and decades of combined experience in energy and smart infrastructure, we built Formula to bring resource management into the digital age.

The savings were real, and other communities quickly took notice.

Purpose
The change we are here to make, for our customers today, and for the world we leave behind tomorrow.
Vision

"A world where resources are managed wisely and nothing goes to waste."

Mission

"To give organizations the tools to see, understand, and control their resources by creating systems that are efficient, transparent, and sustainable."

Principles
We share the usual values of any good company — humility, innovation, responsibility etc — but these are the principles that truly define us.
  • See the unseen

    Much of the waste is invisible. We focus on making it clear and measurable so it can be addressed.

  • Do more with less

    Efficiency is about smart design, not cutting corners. We apply this both to the solutions we create and to how we run the company.

  • Act on insight

    Curiosity leads us to new findings, but we only create value by acting on what we learn.

  • Think long term

    We build solutions that endure and make decisions that support our customers, our employees, and the company's future.

Founders
Gustaf Sjöberg

Founder of Helicon Technologies , where he grew the company from 1 to 50 employees and delivered large-scale cleantech projects such as one of the Nordics' largest Virtual Power Plants, Gustaf leads software, research, and business development at Formula.

Roberto Medina Bujalance

An electronic engineer with over 12 years of experience in IoT and Smart City hardware, including projects that cut water use in Málaga by more than 50 percent, Roberto leads hardware design and field operations at Formula.

Backing

Formula is backed by Helicon Technologies , a cleantech software company with a decade of experience in large-scale energy and water projects, including connecting 15,000 buildings to one of the largest Virtual Power Plants in the Nordics, optimizing 200 MW batteries, and helping close down a coal plant while reducing emissions by tens of thousands of tons annually.