Pexapark bags EUR 6m to fuel growth of PPA software business

Swiss software and advisory services company Pexapark has raised EUR 6 million (USD 6.7m) in a funding round aimed at supporting its global expansion in the renewable energy field.

The fresh funds were secured in a Series B funding round led by Germany’s BayWa r.e. Energy Ventures with the participation of German solar and wind park operator Encavis AG (ETR:CAP) and power producer RP Global. As a result, Pexapark’s overall funding has grown to EUR 11 million, the Swiss firm said on Monday.

“Our solutions have helped renewable energy firms secure financing via PPAs for over 5 GW of projects. This new round of funding will help us grow our company to support the successful development of many more gigawatts worldwide,” said Michael Waldner, co-founder and CEO of Pexapark. Set up in 2017, the Swiss company has developed a quantitative analysis technology to develop software for managing power purchase agreements (PPAs) and assessing financial risk. This spring, it launched of a new free-to-use community platform that allows renewable energy-focused businesses to meet virtually and communicate their activity.

BayWa r.e. Energy Ventures’ managing director Ulrich Seitz pointed out that Pexapark’s solutions provide companies with transparency into market risks, which facilitates the transition toward a post-subsidy market.

(EUR 1.0 = USD 1.122)

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