Based in the United States and the Netherlands, Energyworx enables top US and European energy companies to unlock valuable insights in their massive granular supply, demand and contextual energy data sets.
With this investment, ENGIE expands its existing partnership and leads a new round of funding for Energyworx, joined by EDP – a global player in renewable energy – through its venture capital arm EDP Ventures, and SET Ventures – a leading investor in smart energy solutions.
Digital platform for the energy transition
Massive growth in volumes of data, insufficient quality of data and expanding data silos are emerging obstacles utilities face as the world transitions to decentralized low-carbon energy. Energyworx has achieved strong growth in recent years with its Software as a Service (SaaS) Energy Data Management platform and its proven ability to transform traditional solutions within the energy and utilities market.
The platform includes a solid data foundation and several solutions, like Cloud Meter Data Management and Energy Deal Analytics.
The collaboration with Energyworx enables even greater value and capabilities from ENGIE’s suite of digital platforms for ENGIE customers. With intelligent consumption pattern analytics enabled by Energyworx, ENGIE delivers smarter supply, bid, and pricing decisions, resulting in lower energy prices and maximized use of renewable energy for ENGIE’s customers.
As a Retail Electric Provider, ENGIE North America partnered with Energyworx to optimize competitive bid preparation process for commercial and industrial customers. Energyworx’ scalable and flexible platform gave ENGIE a foundation for building sophisticated anomaly detection algorithms and proprietary analytics to respond quickly to changing customer behaviors, and market conditions while maintaining a high level of competitiveness. Utilizing Energyworx, ENGIE has decreased bid processing times threefold and increased its bid win rate.