Pexapark, a leader in software and advisory services for renewable energy sales, has obtained additional capital, bringing its Series B funding to €14m and its total equity investment to €19m. The fresh capital will accelerate the company’s growth in the global renewable energy market.
Existing Series A and B investors Encavis, RP Global and BayWa r.e. Energy Ventures continued to back Pexapark. The funding round saw S&P Global Commodity Insights (which includes S&P’s Platts price benchmarks) and Fluence, an energy storage and digital applications leader, participate in the round. Furthermore, Pexapark has secured the second half of a loan guarantee from the Swiss government’s Technology Fund. This recognizes Pexapark’s role in contributing to the energy transition towards net zero.
Marek Wolek, Chief Strategy and Commercial Officer at Fluence commented: “As the pace of the energy transition quickens, and as more renewable energy players enter the merchant market, it is vital that investors and owner/operators are able to manage market volatility through both physical assets and robust digital infrastructure. Pexapark is a leader in this domain with data, software and expertise. We look forward to playing a significant role in its next chapter and supporting its expansion in the global marketplace.”
This latest funding will support the continued expansion of Pexapark – which now employs more than 80 people across Europe – into new business areas of the renewable energy ecosystem, such as storage, trading as a service and portfolio management, which are critical to fully enabling the energy transition. It will also see the business embark upon a significant headcount expansion across Europe through 2022.
Since its founding in 2017, Pexapark has become a trusted leader in European renewable energy sales and risk management. It provides an operating system that encompasses software and advisory services to facilitate the entire energy trading and sales workflow from price discovery to analytics, execution and monitoring, covering solar and on- and offshore wind in 18 countries. Target clients include renewable energy investors such as developers, independent power producers (IPP) and funds, and offtakers such as utilities and corporates.
Numerous leading companies, including Ardian, Brookfield’s CEE Group, CIP, Total Energies and Orsted have adopted Pexapark’s solution to price PPAs, analyse hedging decisions, quantify portfolio risks and grow revenues across major European renewables markets.
(Press release/RAN)
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