Pexapark Raises €3.5m to Boost its Energy Trading Platform
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Pexapark AG, whose clients include traders at Credit Suisse AG and Encavis AG, raised €3.5 million to develop its renewable energy trading platform and hire more staff.
“Our objective is to build a future that is 100% renewable. An ambitious goal which we want to achieve by helping companies trade their renewable energy easier, faster and at a lower cost," Michael Waldner, chief executive officer of Pexapark said.
Renewable energy trading has become more complex and volatile as governments reduce their subsidies for green-power. Pexapark gives owners of wind farms and solar parks a single place to structure power sales, close transactions and monitor their energy risks.
Pexapark, which was founded in 2017 and is based at startup space in Zurich-Schlieren, has advised more than 2.2 gigawatts of power purchase agreements in Europe. The 20-employee company plans to raise more capital in 2020.
Waldner, a co-founder, participated in Innosuisse Start-up Training this year. "We got hands-on advice on scaling the business from inspiring coaches and entrepreneurs in the Business Growth ICT course," he said.
