Pexapark has expanded into the US market by acquiring RenewaFi, a platform focused on renewable energy and battery storage in Texas's ERCOT grid. This strategic deal supports Pexapark’s mission to foster transparency in the global renewable energy sector. RenewaFi, founded in 2019 by Noam Yaffe, simplifies the procurement of renewable energy through automated auctions and has gained nearly 50 market participants. With this acquisition, RenewaFi aims to enhance customer experience and accelerate growth in the US market, leveraging Pexapark's established position in Europe.
I founded RenewaFi to combat climate change and make renewable energy markets more efficient. Over the last couple of years, RenewaFi has built a trusted platform for renewables and battery offtake pricing in Texas. Joining Pexapark - the dominant provider of renewables intelligence in Europe - will enhance our customers' experience and accelerate our expansion across US power markets. I couldn't be prouder of this transaction and the global platform that we will build together.
The deal marks Pexapark's entry into the US market, accelerating its mission to bring transparency to the rapidly evolving global renewable energy market.
Founded by Noam Yaffe in 2019, RenewaFi had raised a total of $3M in total reported equity funding and is backed by First Round Capital, Floating Point, BoxGroup, Powerhouse Ventures, and Kiran Bhatraju (CEO of Arcadia).
RenewaFi developed a platform that helps companies and utilities buy renewable energy directly from clean power facilities like wind and solar projects.
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