In 2017, the three co-founders Michael Waldner (CEO), Florian Müller (CTO) and Luca Pedretti (COO), established Pexapark driven by the mission to empower renewable energy players to thrive in post subsidy markets. The idea came up at a time when the renewable energy sector started undergoing a fundamental change with markets transitioning from a heavily subsidized system to an open market. Energy revenues are subsequently becoming volatile, technical and complex to manage, and investors are struggling to oversee their assets in an effective manner.
Headquartered in Schlieren, Pexapark has created a platform that offers investors a more effective solution to manage the energy sales of their wind farms and solar parks. Through its renewables operating system, Pexa OS, the start-up offers an all-in-one solution that helps clients to execute robust strategies for the sale of their renewable power via PPA (power purchase agreement) transactions and other hedging instruments through active portfolio and risk management software and advisory services.
Over 80 leading energy companies including Enel, Uniper, Encavis, RWE, BP and Abo Wind utilise Pexapark’s solutions to support their commercial renewable energy activities. Most recently, IKEA became one of a growing number of major corporates to sign a customer agreement with Pexapark, utilising its platform to support their green energy procurement strategy. Renowned industry giants including SAP.io and EEX have also joined the start-up’s partnership and collaboration agreements list. “Working with such reputable companies is an indication that we are addressing a major pain point in the sector. As the renewable energy industry continues to grow, we envision our start-up becoming a major player worldwide as the leading green energy trading platform,” says Waldner. Thanks to the continued trust by its customers, Pexapark has seen a threefold increase in revenues on a year-on-year basis.
Access to networks through Innosuisse
Besides having an innovative solution launched at the right time, the start-up’s team has benefited from the support of Innosuisse by joining the start-up coaching program in 2018. With Pol Budmiger as their coach, the team was able to gain valuable contacts with potential customers. Pexapark has now obtained the Innosuisse Certificate, recognising its maturity and readiness for growth. While most activity is based in Europe, Pexapark aims to expand further in growing markets, notably the United States and Japan.
Investors also continue to support the company’s growth with funding. To this day, it has banked more than €12 million in equity in addition to grants obtained from the European Union’s European Innovation Council (EIC) Accelerator.
The company team has also grown substantially in the last months with the addition of 30 new employees. In total, Pexapark employs just shy of 50 people, based across the company's offices in Zurich, London, Copenhagen and L’viv.