Pexapark raises €20 million in Series C funding
27 September 2023 08:58
Pexapark has raised €20 million in a Series C funding round, which was led by global technology investor Telstra Ventures from San Francisco. Swisscom Ventures and the Spanish A&G Energy Transition Tech Fund also participated. All three are new investors, and according to a press release they are keen to support Pexapark’s fast growth in the global renewables markets.
Pexapark, which was established in Schlieren in the canton of Zurich in 2017, is an award-winning market intelligence, software and advisory company specializing in renewable energy. It has supported over 30,000 MW of power purchase agreements (PPAs) to date, and claims to be the go-to for the purchase, sale and management of renewable energy in Europe.
In March 2023 alone, Pexapark announced a new record of 23 signed PPAs for plants with a total capacity of over 2 GW. Pexapark experts also believe the imminent reform of European PPA legislation could usher in a golden age for PPAs. “The renewable energy market is experiencing significant and sustained growth, driven by its cost competitiveness and robust political support,” says CEO Michael Waldner in the press release.
Albert Bielinko, Partner at new main investor Telstra Ventures, states: “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.” He adds: “As the world transitions to renewables, and government subsidies are gradually removed, we believe Pexapark’s services will be indispensable.” ce/mm