Dexter Energy, an AI powered software solution that helps energy companies optimise their portfolios, has raised €2 million in a Series-A round.
The round was led by Newion, and saw participation from existing investor PDENH (Participation Fund Sustainable Economy North-Holland) and undisclosed private investors.
Dexter Energy is seeking to make the unpredictable, predictable. As in, when it comes to green energy, production is only happening when the sun is shining or when the wind is blowing. By contrast, the traditional method, read: fossil fuel powered, provides electricity on-demand, weather independent.
In order to successfully compete on this playing field, suppliers of renewable energy need a way to accurately anticipate and predict every changing weather and market conditions. Enter Dexter Energy.
Dexter Energy’s AI-powered platform helps energy providers predict supplies and demands, as well as market movements. This results in providers being able to optimise their production and consumption. The overall goal here is to help get renewable energy providers up to speed, competing with fossil fuel fired providers, and phasing them out.
“Newion has a strong track record in helping software companies to scale and we are looking forward to taking full advantage of this expertise. We aim to roll out our optimization software platform to all liberalized European energy markets in the coming years,” comments Dexter Energy CEP Luuk Veeken.
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