|Press Release – 22/06/2020|
Pexapark secures €6m investment from BayWa r.e. Energy Ventures, Encavis and RP Global to advance post-subsidy renewables transition
BayWa r.e. Energy Ventures, Encavis, and RP Global back Pexapark’s software and advisory services that help manage financial risk in the post-subsidy renewable energy markets
Zurich, 22 June – Pexapark, a leader in software and advisory services for renewable energy sales, has secured additional growth capital to sustain and accelerate its expansion in the global renewable energy markets. The business has raised €6 million in its Series B funding round, led by BayWa r.e. Energy Ventures, together with Series A investors Encavis and RP Global, the latter also serving as the seed investor. This latest round of investment brings Pexapark’s overall funding total to €11 million.
Ulrich Seitz, Managing Director at BayWa r.e. Energy Ventures, commented: “We are excited to support the growth of a company that is advancing the renewables industry’s transition toward a post-subsidy market. Pexapark has already given companies a great deal of transparency into market risks in Europe via its datasets and software. This is a fundamental requirement for the industry in order to adapt to these risks worldwide and drive a global clean energy transition.”
Understanding and managing the financial risks of post-subsidy energy markets is increasingly vital for the renewables industry as it seeks to secure financing to develop new projects across the globe. New tools and strategies are needed to succeed in this environment, and this latest round of investment by a consortium of industry leaders demonstrates Pexapark’s clear role in helping companies manage this shift.
Since its inception in 2017, Pexapark has used its unique quantitative analysis technology to develop software to price, analyse, source, and manage power purchase agreements (PPAs). This ‘quant’ expertise is also channelled into Pexapark’s financial risk and portfolio management tools, alongside wider advisory services designed to help the renewables industry master energy sales and scale up development worldwide to meet global energy demand.
“I’m incredibly proud of the hard work our team has put behind making Pexapark a leader in software and advisory services for renewable energy sales over the past three years, and humbled by the support our investors, customers and partners provide everyday”, commented Michael Waldner, Co-Founder and CEO of Pexapark. “Our solutions have helped renewable energy firms secure financing via PPAs for over 5GW of projects. This new round of funding will help us grow our company to support the successful development of many more gigawatts worldwide.”
Pexapark already works with leading companies, including RWE, Credit Suisse, Vestas, and EEX, across the major markets for renewables in Europe and plans to further expand its global presence.
Luca Pedretti, Co-Founder and COO at Pexapark, added: “The renewable energy industry is entering into a new phase of its development, ultimately paving the way for a fully market-based system. This shift is being driven by pioneering companies who are putting financial risk management at the core of their business strategy.
At Pexapark, we have distilled over twenty years of experience in energy risk management and trading into software tools that give users mastery over these risks, and allow them to make better, faster renewable energy sales.”
Based in Zurich and founded in 2017 by Michael Waldner, Luca Pedretti and Florian Müller, Pexapark and its 25+ person team is a rapidly growing, award-winning renewable enterprise software company. Pexapark’s mission is to improve renewable energy sales by facilitating the power purchase agreement process and offering renewable energy investors a turn-key solution to manage energy sales and financial risks of their assets.
Together with its expert advisors, Pexapark offers clients the full scope of tools and knowledge to help maximize the risk-return of renewable energy investments.
About BayWa r.e. Energy Ventures
BayWa r.e. Energy Ventures is a Munich based venture capital firm looking for investment opportunities in the energy market all over Europe and Israel.
BayWa r.e. Energy Ventures focuses on scalable business models in the areas of digital energy solutions, storage and e-mobility, and believes the key to success is ensuring great chemistry and collaboration between the founders, management team and investors.
As the venture capital unit of global renewable energy developer, service provider and distributor BayWa r.e., the company combines corporate stability and a deep understanding of the energy market with the entrepreneurial experience and mindset within its dedicated team.
Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed on the SDAX of Deutsche Börse AG. As one of the leading independent power generators (IPPs), Encavis acquires and operates solar parks and (onshore) wind farms in ten European countries. The plants for sustainable energy generation generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). Within the Encavis Group, Encavis Asset Management AG specializes in the area of institutional investors.
Encavis AG’s environmental, social and governance performance was evaluated by ISS-oekom, one of the world’s leading ESG research and rating agencies and received the ISS-oekom Prime label.
Further information on the Company can be found at www.encavis.com
About RP Global
RP Global is a developer and independent power producer with over 35 years of experience in the renewable energy sector. It has implemented numerous projects in hydro, wind and PV, as a developer, investor and operator.
RP Global is cooperating with and has many successful partnerships and transactions with investors and lenders, such as the IFC/World Bank, the EBRD, Mirova/Natixis, the Marguerite Fund and Talanx, among others.
The company’s international team is currently active in Europe, South America, and Africa, the headquarters are in Vienna, Austria, and Madrid, Spain.