March 18, 2021
Breaking! PDENH co-managed by us is investing again in Dexter Energy. Dexter has successfully raised an additional € 2.0 million to continue their mission, helping energy companies make the smooth transition to renewable energy generation. Read all about it in the press release below.
- press release -
Newion leads € 2 million investment round in Dexter Energy - for an accelerated energy transition
AMSTERDAM, March 18, 2021 - Dexter Energy, a fast-growing startup helping energy companies in Europe optimize their energy portfolio using AI, has received € 2 million in a Series A round of investment led by Newion, early stage investor in B2B software companies. Existing investors PDENH, Stephen Asplin and Andreas Gelfort also participated in this round.
The electricity market is changing due to the energy transition. Where previously a select number of fossil-powered power plants supplied power on demand, green energy now flows into the grid when the wind blows or the sun shines. To deal with this, companies with extensive energy generation or consumption increasingly have to anticipate erratic weather and market conditions.
Dexter Energy meets the need to reduce the uncertainties resulting from the energy transition. Using AI-driven software, Dexter Energy predicts energy flows and market movements, so that companies can optimize their generation and consumption. Customers also get a grip on increasing imbalance costs as a result of the energy transition. Emission-free electricity sources are therefore stronger in the market, and fossil sources can be scaled down earlier.
Luuk Veeken, CEO and founder of Dexter Energy:
“We are very pleased with this financing, which will be used to further improve the products for our customers. Newion has a strong track record in expanding and scaling software companies. We would like to benefit from their knowledge and experience and hope to roll out our optimization software to all liberalized European energy markets in the coming years. ”
Patrick Polak, Managing Partner of Newion:
“Dexter Energy is accelerating the energy transition, not only in the Benelux, Germany and the UK, but soon also in the rest of the world. We see many opportunities and will be very happy to support the Dexter team in their further growth towards market leadership. ”
Anthony Viellevoije, Investment Director at PDENH:
“We are extremely proud of Dexter's success and are happy to confirm our confidence in the team with a contribution to this Series A round. Dexter Energy's forecasting solutions accurately and automatically predict the load on the energy grid, which is crucial for energy companies. ”