April 18, 2023<\/p>\n
Sustainable Economy Participation Fund North Holland (PDENH)<\/strong> has made a follow-on investment in Dexter Energy<\/a>, a specialist in AI forecasting for balancing and optimizing renewable energy. This \u20ac10.5 million \u2018Series B\u2019 funding round was led by <\/strong>ETF Partners<\/a><\/strong>. Other existing investors <\/strong>Newion<\/a><\/strong> and <\/strong>Rockstart<\/a><\/strong> also participated.<\/strong><\/p>\n <\/p>\n The transition to renewable energy is bringing about major changes. Where previously a limited number of fossil fuel power plants provided \u2018electricity on-demand\u2019, green power now only flows when the sun shines or the wind blows. This changes the way energy companies trade energy and align it with the grid (balancing). As a result, their balancing costs rose by 60 percent to \u20ac20 billion in 2022. Since the share of wind and solar energy in Europe is expected to increase from 22 percent (in 2022) to 65 percent in 2030, these costs will increase even further. <\/p>\n The demand for optimization solutions is therefore high, and over the past two years, Dexter Energy’s revenue has increased tenfold. Dexter’s solution uses advanced machine learning<\/em> algorithms and big data analytics to help energy companies optimally balance wind, solar, and storage. <\/p>\n Dexter will use the new funding to integrate all its services into a single self-service cockpit. This helps customers optimize their balancing strategy and thereby minimize their balancing costs. In addition, Dexter aims to double its team to 80 people by the end of this year to continue growing and expand into six new European countries over the next two years. <\/p>\n ‘Companies like Dexter are essential for the electricity market of the future. Energy markets in Europe are undergoing major changes due to the rise of renewable production and the sharp increase in the number of flexible assets connected to the grid. With its strong vision for the future of energy markets, Dexter enables its customers to operate optimally in the current transitions.’ <\/p>\n Dexter Energy is a fast-growing European AI forecasting specialist for balancing and optimizing renewable energy. The company was founded in 2017 and is based in Amsterdam. Dexter’s customers include innovative energy companies such as Axpo, Greenchoice, GigaStorage, NieuweStroom, and Pure Energie. www.dexterenergy.ai<\/a><\/p>\n PDENH was established by the Province of North Holland with the aim of stimulating the sustainable economy in North Holland. The fund invests in companies and projects focusing on the energy transition, circular economy, and sustainable mobility. The fund has a size of \u20ac85 million and has invested in more than 30 companies and initiatives since its inception. PDENH is managed by KplusV and StartGreen Capital. www.pdenh.nl<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" April 18, 2023 Sustainable Economy Participation Fund North Holland (PDENH) has made a follow-on investment in Dexter Energy, a specialist in AI forecasting for balancing and optimizing renewable energy. This \u20ac10.5 million \u2018Series B\u2019 funding round was led by ETF Partners. Other existing investors Newion and Rockstart also participated.<\/p>\n","protected":false},"author":8,"featured_media":15138,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[121,153,157,129],"tags":[177,197,127,131,124],"class_list":["post-15137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-pdenh","category-press","category-startgreen-capital","tag-change","tag-circular","tag-energy-transition","tag-impact","tag-sustainability"],"acf":[],"_links":{"self":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/posts\/15137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/comments?post=15137"}],"version-history":[{"count":0,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/posts\/15137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/media\/15138"}],"wp:attachment":[{"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/media?parent=15137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/categories?post=15137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/startgreen.nl\/en\/wp-json\/wp\/v2\/tags?post=15137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Tenfold increase in revenue<\/h6>\n
Continued growth and expansion<\/h6>\n
Jonathan Moed, Investment Manager at StartGreen:<\/h6>\n
About Dexter Energy:<\/strong><\/h6>\n
About <\/strong>PDENH: <\/strong> <\/h6>\n