SaaS-based Intelligent Meter Data Management platform
supports utility companies with the energy transition;
investment from EDP Ventures will be used to scale and
accelerate international growth
LISBON, Portugal and HOUTEN,
The Netherlands, Nov. 12, 2019 /PRNewswire/ -- Energyworx, a
SaaS-based platform for Energy Data Management that helps utility
companies navigate and monetize the energy transition, today
announced a €1 million Series A extension funding round, led by EDP
Ventures, the venture capital arm of EDP. Energyworx will use the
new funding to scale development and accelerate international
growth within the US and European markets. A global leader in the
utilities sector and part of the Dow Jones Sustainability Index,
EDP is the fourth largest global player in renewable energy, ranks
among Europe's major electricity
operators, and is one of the largest business groups in
Portugal. The investment by EDP
Ventures supports a strategic partnership between EDP and
Energyworx to accelerate Industry 4.0 adoption within the
utility sector.
"EDP is one of the most advanced, forward thinking utility
companies in the world and a very important customer for
Energyworx," said Marcel E. Smit,
CEO of Energyworx. "We are pleased that EDP Ventures recognizes the
potential of Energyworx's SaaS-based energy date management cloud
service and its potential to transform traditional software
solutions within the energy and utilities market. The addition of
EDP Ventures to our board, combined with their knowledge and
international industry contacts will be indispensable as we enter
the next phase of expansion."
Recognized for the past three years in the Gartner 'Magic
Quadrant' for Meter Data Management (MDM). Energyworx has achieved
significant growth in recent years, adding a number of global
utilities to its list of customers and rolling out an
enterprise-grade, intelligent MDM solutions platform for
utilities.
"The energy transition towards a sustainable energy world
continues to rapidly evolve. As the global development and
deployment of smart meters and the growth of IoT devices in the
grid accelerates, there is an urgent need for utilities to trust
the quality of their data and extract the maximum value from it,"
said Luís Manuel, Executive Board Member at EDP Ventures. "Various
business units within EDP Group already use the Energyworx platform
as it provides unique flexibility to address challenges faced by
utilities in the Energy Data Management sector. We are thrilled to
join Energyworx and contribute to the development of Energyworx as
a front runner in the Meter Data Management field."
A majority of utility companies have complex, legacy IT systems
that make innovation and digital transformation difficult to
accomplish. "The Energyworx Intelligent MDM platform empowers
utilities with the ability to quickly find and connect to,
understand and trust their data, as data quality is one of the
biggest issues in the utility industry. We look forward to enabling
many more utility companies to successfully navigate and manage the
energy transition that Industry 4.0 brings," added Pieter Ennes, Chief Technology Officer of
Energyworx.
About Energyworx
Energyworx is a market leader in Intelligent Meter Data
Management SaaS solutions. Energyworx helps utility companies
in monetizing their rapidly growing volumes of diverse data that
come with the roll-out of the smart meter. The Energyworx platform
powers a variety of cloud-based, utility specific applications to
better understand and predict customer consumption patterns.
Energyworx is the only visionary vendor in Gartner's Magic Quadrant
for Meter Data Management.
Privately held and backed by HenQ Ventures, SET Ventures and EDP
Ventures, Energyworx is based in Houten, The Netherlands and Houston, Texas, USA. Learn more at
https://www.energyworx.com
About EDP Ventures
EDP Ventures is the corporate venture arm of EDP Group, an
early-stage venture capital mainly focused in Seed and Series A
aiming to support and stimulate the open innovation process in the
energy sector. Currently managing more than 70M€, EDP Ventures
looks for disruptive technologies and business models focusing in
Renewable Power technology, Smart Grids, Energy Efficiency,
Electric Mobility, Energy Storage, AI and ML, Cybersecurity,
Digital and Predictive analytics. It is located
in Lisbon and São Paulo.
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