The closing of its series C financing round led by San Francisco-based Telstra Ventures underpins Pexapark’s rapid growth in the global renewable energy markets. The startup will use the funds to accelerate its mission of equipping renewable energy players worldwide with the expertise, processes, and systems to thrive amid evolving market dynamics.
Since 2017, Pexapark has been providing Power Purchase Agreement (PPA) price reference, risk and portfolio management software and advisory services for renewable energy. With more than 30,000 MW of renewable PPA transactions supported, Pexapark is the reference for buying, selling and managing renewable energy. The company currently brings price transparency to 19 individual markets. PexaOS is now being used by Independent Power Producers (IPPs) and funds to actively manage 13 GW of renewable energy assets across Europe.
The €20 million raised in its latest funding round, led by Telstra Ventures, a global technology investor with US$1 Billion Assets Under Management, 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. In this dynamic landscape, market intelligence and energy risk management capabilities have become critical. These capabilities are crucial for competitively pricing energy and safeguarding capital by effectively managing exposure to market risks.”
Further developments and expansion in the outlook
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.
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.
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.
(Press release/RAN)
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