Pexapark, a player in the renewable energy sector, has successfully secured €20 million in Series C funding, marking a significant milestone in its growth trajectory within the global renewable energy markets. This funding round, spearheaded by Telstra Ventures, a global technology investor, and joined by Swisscom Ventures and the A&G Energy Transition Tech Fund, positions Pexapark to play a pivotal role in assisting its clients in navigating the evolving opportunities and risks in the energy transition.
Michael Waldner, Chief Executive of Pexapark, expressed enthusiasm about the fresh injection of capital, stating, “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 be directed towards further enhancing Pexapark's suite of offerings, which includes providing trusted reference prices for Power Purchase Agreements (PPAs) in Europe, offering PPA transaction advisory services, and deploying Pexapark's distinctive energy risk and portfolio management software, known as PexaOS.
These services have already gained the trust of over 200 renewable energy, storage, and green hydrogen companies across Europe, with notable clients including industry leaders such as Octopus Energy Generation, Statkraft, BP, EDF Renewables, and Covestro.
Pexapark has been instrumental in bringing price transparency to 19 different markets and has played a role in facilitating more than 30GW of PPA deals to date. Notably, PexaOS is currently being utilized by Independent Power Producers (IPPs) and investment funds to manage a substantial 13GW of renewable energy assets across Europe.
Albert Bielinko, a Partner at Telstra Ventures, emphasized the strategic significance of their investment in Pexapark, highlighting the company's leadership in energy risk management software for renewable energy investors and its pivotal role as a source of market intelligence for renewable PPAs. He noted that Pexapark's services are essential in streamlining the process of signing PPAs, particularly as the world transitions to renewables and government subsidies gradually phase out.
Jennifer Webb, Investment Director at Swisscom Ventures, echoed the sentiment, expressing confidence in Pexapark's unique global positioning to support renewable energy market participants in managing price volatility and regulatory changes as the renewable energy market continues to expand and mature. The investment reflects the belief that Pexapark's services will become increasingly indispensable in this evolving landscape.
