Pexapark bags new growth capital to target global, multi-gigawatt growth

• Renewables software firm Pexapark has increased EUR6 million (US$ 6.7 million) in Series B funding as it seeks accelerate its development via the coming years.

The funding round, led by BayWa r.e. Energy Ventures together with existing Series A capitalists Encavis and also RP Global, will aid Pexapark reinforce its collection of devices which it says are crucial to subsidy-free renewables strategies.

Pexapark uses tools such as its "unique" quantitative analysis innovation to cost, evaluate, source and manage power acquisition agreements (PPAs), while additionally supplying economic risk, portfolio management as well as various other advising services to renewables designers.

It currently counts major European investors and also designers such as Credit Suisse, EEX, RWE as well as Vestas among its customers, and intends to use the brand-new financing to increase worldwide.

The EUR6 million in brand-new funding takes the business's general financing to EUR11 million (US$ 12.3 million), as well as founder and also CEO Michael Waldner said Pexapark had actually been humbled by the assistance of its capitalists and clients alike.

" Our services have helped renewable energy companies safe funding using PPAs for over 5GW of jobs. This new round of financing will certainly help us grow our business to support the successful development of many more gigawatts worldwide," he said.

Ulrich Seitz, managing supervisor at BayWa r.e. Energy Ventures-- the equity capital arm of European renewables solid BayWa r.e.-- claimed it was excited to support a business assisting to accelerate the renewables sector's change in the direction of a subsidy-free age.

" Pexapark has already given firms a great deal of openness into market risks in Europe through its datasets and software application. This is a basic need for the industry in order to adapt to these threats globally and also drive an international clean power change."