Pexapark, a specialist provider of Power Purchase Agreement (PPA) price reference, risk and portfolio management software and advisory services for renewable energy, has secured €20 million in Series C funding to underpin its rapid growth in the global renewable energy markets.
The new funding round, led by global technology investor Telstra Ventures, with participation from Swisscom Ventures and the A&G Energy Transition Tech Fund, will give significant impetus to Pexapark as it helps its customers navigate new opportunities and risks at a pivotal moment in the energy transition.
“The renewable energy market is experiencing significant and sustained growth, driven by its cost competitiveness and robust political support,” said Michael Waldner, CEO, Pexapark. “Despite this, renewable energy investors face a complex set of challenges – from market opacity to price volatility and regulatory pressures. This fresh injection of capital takes us into the next exciting phase of our mission to equip renewable energy players around the globe with the expertise, processes, and systems to thrive amid evolving market dynamics.”
The investment will finance further innovation in Pexapark’s offering, which encompasses the market’s trusted reference prices for PPAs in Europe, PPA transaction advisory services, and Pexapark’s unique energy risk and portfolio management software, PexaOS. Together, these services have been adopted by over 200 renewable energy, storage and green hydrogen players across Europe – including leading companies such as Octopus Energy Generation, Statkraft, BP, EDF Renewables and Covestro.
Founded in 2017, Pexapark currently brings price transparency to 19 individual markets and has supported more than 30GW of PPA deals to date. PexaOS is now being used by Independent Power Producers (IPPs) and funds to actively manage 13 GW of renewable energy assets across Europe.
Capitalising on the global presence of Telstra Ventures, Swisscom Ventures and A&G Energy Transition Tech Fund, which together hold extensive technology investment portfolios spanning Europe, the USA, Asia, Australia, and Latin America, Pexapark is aiming to further expand its team and offerings to meet global demand.
Albert Bielinko, Partner at Telstra Ventures, commented: “We invested in Pexapark because we believe they are the global leader in energy risk management software for investors in renewable energy, as well as the leading source of market intelligence for renewable PPAs.”
Jennifer Webb, Investment Director at Swisscom Ventures, added: “We have backed Pexapark because it is uniquely positioned globally to support renewable energy market participants in addressing price volatility and regulatory changes, as this market grows and matures. Swisscom Ventures finds strong alignment with Pexapark’s mission of improving market effectiveness in the renewables industry, an industry seeing investment outpacing that of fossil fuels.”
Juan Diego Bernal, Managing Director at A&G Energy Transition Tech fund, said: “In ever more volatile electricity price markets, where it’s increasingly difficult to predict their future evolution, new tools and capabilities are needed to address these complexities and ensure a fair and efficient energy transition for all. In this regard, Pexapark is the undisputed leader in Europe, offering data-driven products and services that provide better insights and transparency into the electricity markets and energy trading through PPAs.”
The new investors join Pexapark’s leading strategic investors including RP Global, Encavis, BayWa r.e. Energy Ventures, S&P Global and Fluence Energy, Inc. – highlighting Pexapark’s position as a trusted leader in renewable energy. The Series C funding round was supported by Arctic Securities and Walder Wyss.
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- Source: https://www.eu-startups.com/2023/09/zurich-based-pexapark-bags-e20-million-series-c-to-accelerate-global-renewables-players-growth/
