Dexter Energy Services, AI-based energy forecasting software provider, receives a substantial investment. The investing consortium is led by PDENH, co-invested by smart energy accelerator Rockstart and informal investors Stephen Asplin and Andreas Gelfort. The capital will fund the scale-up of Dexter’s AI-based forecasting software platform.
Dexter offers its services to energy companies, aggregators and other market parties with large amounts of energy flexibility. Dexter has proved the value of its technology with several innovative energy companies such as NieuweStroom, Greenchoice, ENGIE and HVC and is rapidly expanding its business with customers in the Benelux.
“We are very happy with our new investors that will enable us to expand our proposition to more customers in- and outside of the Netherlands. We are proud of the confidence the new investors expressed in our product, team and vision on how to solve the challenges of the energy transition.” says Luuk Veeken, founder and CEO of Dexter.
The transitioning energy systems shows strong growth in renewable generation, a shift towards decentralised energy production and changes in energy consumption patterns. Given these changes, more imbalance in the energy system is expected. Dexter’s forecasting services help to reduce and counteract those imbalances.
Anthony Viellevoije, Investment Director at PDENH: “Dexter Energy uses revolutionary technology to solve a current and growing problem. With the fast growth of decentral renewable energy it becomes abundantly clear that energy companies need forecasting tools to meet future demands. Accurate predictions and smarter use of flexible assets in the power system is the answer.”
That Dexter Energy has much potential is something Freerk Bisschop, Director Energy at Rockstart, concurs with:
“This investment is an excellent demonstration of our new business model. It combines our proven world-class acceleration programs with follow-up co-investments, with reputable venture capital funds like PDENH. I’m happy and confident that Dexter will expand with Rockstart’s upgraded support.
About Dexter Energy Services
Dexter helps energy companies lead the way towards a cleaner and affordable energy future by offering forecasting services, data analytics and optimisation algorithms. Software produced by Dexter has the potential to speed up the energy transition. This through a unique combination of advanced machine learning technologies and knowledge of the electricity system and power markets.
The Durable Economy Participation Fund North Holland invests in both start-ups and established enterprises which have a sustainable business model or project and contribute to the economy of North Holland province. Specifically with regards to – though not limited to – energy transition, sustainable mobility and circular economy. The fund is based in and funded by North Holland province and is managed by KplusV and StartGreen Capital.
Launched in 2011, Rockstart has accelerated over 200 startups across four core domains that have raised a total of over €89 million and generated more than 700 jobs. Passionate about driving positive change with teams from all over the world, Rockstart plans to support and invest in more than 200 startups in its core domains over the next five years, providing follow-on capital and unparalleled access to the market along the way. To do that, the accelerator partners with large players in respective industries to connect startups to their first customers and foster collaborative innovation.