- New funding from Telstra Ventures, Swisscom Ventures and A&G Energy Tech Transition Fund will support Pexapark in its mission to equip renewables players globally with the solutions to succeed in the energy transition
Zurich, 26th September 2023 — Pexapark, the specialist provider of Power Purchase Agreement (PPA) price reference, risk and portfolio management software and advisory services for renewable energy, has secured €20m 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. 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.”
“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.
Pexapark currently brings price transparency to 19 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, 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.”
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.”
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 offtakers 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.”
The new investors join Pexapark’s leading 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.
Pexapark is an award-winning market intelligence, software and advisory company, specialised in renewable energy. With more than 30,000 MW of renewable PPA transactions supported, Pexapark is the reference for buying, selling and managing renewable energy.
Pexapark’s PPA reference prices increase transparency across 19 markets. Our advisory team and software suite enable leading companies to close successful PPA transactions, manage their market risk and monetise their renewable energy investments.
Pexapark was founded in 2017 with the purpose of accelerating the energy transition towards net zero by creating an efficient market for renewable energy.
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About Telstra Ventures:
Telstra Ventures Accelerates the Extraordinary – we fuel the growth of standout disruptors. In our first ten years, 92 investments have generated 38 liquidity events including Auth0, BigCommerce, Box, Cloopen, CrowdStrike, DocuSign, Rancher, Skillz, Snap, and Whispir. To date, our Revenue Acceleration Platform has driven > US$500 million in revenue for our portfolio companies, extending their reach across Australia, Asia, UK and the US. In 2022, we announced the close of our third fund, bringing Funds Under Management to US$1 Billion. To see our full portfolio and learn more, visit www.telstraventures.com.
About Swisscom Ventures:
Swisscom Ventures is the venture capital arm of Swisscom AG, the leading telecom and ICT provider in Switzerland. Since 2007, we have invested in over 80 technology companies from our offices in Switzerland (Zurich, Bern and Lausanne) and the USA (Silicon Valley). We invest in 8-10 new companies every year for a total volume of $50-100m p.a.. As an investor, we offer entrepreneurs access to Swisscom’s technical infrastructure and market channels in addition to financial support. We focus on sectors of domain expertise such as Telco & IT Cloud, DeepTech, Cybersecurity and Fintech as well as Big Data & AI related new business models where we leverage our access to Swisscom’s technology and market experts. For more about Swisscom Ventures, visit https://ventures.swisscom.com
About A&G Energy Tech Transition Fund:
A&G Energy Transition Tech Fund (A&G ETTF) is the VC arm of A&G (www.ayg.es) to invest in technology-based companies that accelerate the Energy Transition and the decarbonization of the economy. A&G ETTF invests in growth/expansion rounds, co-investing with other international funds and industrial corporations, with a clear focus in Europe but also open to invest in other geographies in the rest of the world. A&G ETTF is an Article 9 fund, measuring the SDG impacts.