The Amsterdam-based climate tech company Dexter Energy has raised €23 million in a Series C funding round to further expand its AI-supported forecasting and trade optimization services for renewable energy and batteries. The round was led by Alantra’s energy transition fund Klima, alongside Mirova and with continued support from existing investors, including ETF Partners, Newion, and PDENH.
Dexter’s mission is to accelerate the energy transition to a fully carbon-free energy system by making short-term power trading smarter, simpler, and more profitable for renewable energy producers. Dexter’s intelligent software helps energy companies balance the grid, reduce balancing costs, and optimize the use of solar and wind energy and battery storage, which is crucial in an increasingly volatile energy market. With the investment, Dexter will expand its battery trading solutions, improve its optimization tools for wind and solar energy, and grow into new European markets.
Luuk Veeken, CEO and founder of Dexter Energy: “We are delighted to welcome Klima on board. They share our conviction that AI is now an essential infrastructure for an electricity grid that is increasingly powered by renewable energy and storage. This investment allows us to grow our team, expand into new markets, and redefine short-term trading for wind, solar, and battery portfolios. In this way, we can help more companies get the most out of their clean energy and support them in balancing the electricity grid.”
Dexter Energy helps clean energy players in volatile European energy markets.
As renewable energy rapidly increases across Europe — from approximately 34% of electricity generation in 2019 to 47% in 2024 and an expected 70% in 2030 — clean energy producers are facing increasingly greater challenges. They must compete in a fast-changing market where prices are volatile, weather causes constant fluctuations, and traditional subsidies are no longer the primary source of income. In the Netherlands, for example, renewable energy producers have seen their revenues drop by more than 30% since 2019 due to price decreases caused by cannibalization and rising balancing costs resulting from inaccurate forecasts.
Dexter’s technology helps energy producers extract more value from their sustainable energy sources. It dynamically optimizes production on the day-ahead, intraday, and imbalance markets. By intelligently utilizing physical flexibility, such as temporarily curtailing production or managing storage, Dexter’s software delivers automated trading strategies and real-time asset management. This allows energy companies to significantly increase their revenues.
With this new investment, Dexter will accelerate the development and rollout of its asset-backed trade optimization solutions for wind and solar energy in Europe. Dexter will also use the funding to accelerate the development and rollout of its solutions for the optimization of battery trading, initially in the Netherlands and subsequently in key European markets.
Anthony Viellevoije, Investment Director – PDENH:
“This significant funding round is a testament to Dexter’s innovative use of AI in climate tech, and we are pleased to deepen our commitment. This milestone also marks a successful partial exit for PDENH and confirms the potential we saw in Dexter Energy from day one. It is very satisfying to see the impact and returns our portfolio companies generate. We look forward with great enthusiasm to the next chapter of Dexter’s growth.”
About Dexter Energy
Dexter Energy was founded in 2017 and is based in Amsterdam. The company offers advanced machine learning and optimization solutions for short-term electricity trading. By integrating forecasting, automation, and asset management, Dexter helps energy suppliers maximize the value of their wind, solar, and battery portfolios. Dexter’s mission is to accelerate the energy transition to a carbon-free energy system.
With a presence in nine European countries and a team of 90 professionals specializing in short-term energy markets, machine learning, quantitative trading, data engineering, and energy meteorology, Dexter drives innovation and efficiency throughout the clean energy sector.
Today, Dexter Energy works with more than 80 energy companies, including Centrica Energy, Pure Energie, and Luminus. The company is uniquely positioned to deliver extra value by intelligently coordinating battery storage with renewable energy generation, allowing producers to extract more value from their assets.
For more information, visit www.dexterenergy.ai.
About PDENH
The Sustainable Economy Participation Fund North Holland (PDENH) has made a significant contribution to the transition to a sustainable and circular economy over the past ten years. The fund invested over 70 million euros in innovative and sustainable projects in the region. Since September 2023, it has been a closed-end fund and focuses on follow-on investments in existing portfolio companies. PDENH is managed by ROM InWest, KplusV, and StartGreen Capital.
Want to know more about PDENH? Then view the fund page or visit the fund’s website.
