Pexapark has secured €20m in Series C funding to underpin its 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.
Pexapark chief executive Michael Waldner said: “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 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 brings price transparency to 19 markets and has supported more than 30GW of PPA deals to date.
PexaOS is now being used by IPPs and funds to manage 13GW of renewable energy assets across Europe.
Partner at Telstra Ventures Albert Bielinko 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.”
Swisscom Ventures investment director Jennifer Webb added: “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.”