Zurich, Switzerland-based, the specialist provider of Power Purchase Agreement (PPA) price reference, risk and portfolio management software and advisory services for renewable energy, PexaPark raised EUR 20 million in Series C. The round took place on September 26, 2023. Global technology investor Telstra Ventures led the financing for the company. In addition, Swisscom Ventures and the A&G Energy Transition Tech Fund also provided the investment.
Purpose of financing for PexaPark
The boost from investors provides significant impetus to the company as it helps its customers navigate new opportunities and risks at a pivotal moment in the energy transition.
The latest proceeds further finance 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. Pexapark is also aiming to further expand its team. In addition, it seeks to expand its offerings to meet global demand.
What the company’s official has to add
Michael Waldner, CEO, Pexapark, said, “The renewable energy market is experiencing significant and sustained growth, driven by its cost competitiveness and robust political support. Despite this, renewable energy investors face a complex set of challenges – from market opacity to price volatility and regulatory pressures. In this dynamic landscape, possessing both market intelligence and energy risk management capabilities has become absolutely critical. These capabilities are crucial not only for competitively pricing energy but also for safeguarding capital by effectively managing exposure to market risks.”
He further added, “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.”
What the investors have to comment
Albert Bielinko, Partner at Telstra Ventures, said, “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. Signing PPAs is crucial to ensure new renewables projects can be financed, and Pexapark provides a critical service that makes this process more efficient. As the world transitions to renewables and government subsidies are gradually removed, we believe Pexapark’s services will be indispensable. Pexapark also has an iconic team who structured the first PPAs in Europe many years ago.”
In addition, Jennifer Webb, Investment Director at Swisscom Ventures, said, “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. When we examined this market, we were impressed by the strength of this team and the depth of their expertise. We are excited to support the Pexapark team as they work together to expand the reach and impact of the company.”
Besides, 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. In essence, Pexapark assists renewable energy investors and off-takers in making more informed decisions and managing their portfolios in an automated manner. We are very proud to have Pexapark as part of our portfolio of companies and to contribute value to its international growth.”
About the company
Michael Waldner is the CEO of the company. PexaPark services are widely adopted by more than 200 renewable energy, storage and green hydrogen players across Europe. Its customer base includes leading companies such as Octopus Energy Generation, Statkraft, BP, EDF Renewables and Covestro.
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