Pexapark secures US$ 8m in second round Series B funding

• Renewables advisory firm Pexapark has safeguarded EUR8 million (US$ 8.08 million) in a second round of Series B funding as it plots further expansion.

The financing will certainly sustain the company's development into more recent locations of the renewables market, such as energy storage space, trading as a service and portfolio administration.

Pexapark will likewise seek to expand its visibility in Europe by hiring even more staff throughout 2022.

S&P Global Commodity Insights, which partnered previously this month with Pexapark to produce a new PPA benchmark, and energy storage space firm Fluence have actually joined existing series An and also B financiers Encavis, RP Global as well as BayWa r.e. Energy Ventures.

The Switzerland-headquartered company's total equity investments has until now reached EUR19 million in order to accelerate its development in the renewable energy market.

Pexapark utilizes devices such as its quantitative analysis technology to rate, evaluate, source as well as take care of power purchase agreements (PPAs) which counts major energy firms such as Total Energies, Orsted or CIP amongst its clients.

Moreover, the advising company has actually protected the second half of a loan guarantee from the Swiss government's Technology Fund.

Michael Waldner, co-founder as well as CEO at Pexapark, said: "With such a massive pipeline of renewables projects across the world, it is a lot more crucial than ever that developers, financiers and also energy purchasers are tuned into the threats, which they have the best operating models to manage them."