Energy21 enhances its tech offering following the acquisition of two innovative software providers
Utrecht, The Netherlands, August 24, 2023 – Energy21 has acquired software providers Jules and Ecedo, expanding its services and strengthening its position as a leading technology partner for European energy companies and consumers.
With the group now comprising over 100 employees, it anticipates an annual revenue turnover of approximately €20 million this year. Clients span Europe, including the Netherlands and the UK.
The acquisitions follow a rising demand for software across the energy sector due to increased complexity and rapidly changing market requirements. This includes the energy price cap, the introduction of flexible contracts, and the rise of EV-sharing.
With the addition of Jules’ software, Energy21 can offer a new solution to energy suppliers. Jules provides an energy procurement platform for energy companies and their clients, this self-service platform lowers the cost to serve as clients can manage their electricity and gas positions more independently.
Ecedo’s acquisition follows strong growth in recent years. For over a decade, the company provided software solutions to energy suppliers for traditional and dynamic contracts. With its cloud-based software, it assists more than 15 energy companies with managing, registering, and invoicing around one million customers.
Michiel Kuiper, CEO of Energy21, commented: “These two acquisitions align well with Energy21’s strategy to be the go-to technology partner for energy companies. By adding the software solutions and expertise we can deepen our product offering and geographic presence. This will allow us to support more clients with more specific solutions in the energy value chain.
“Together, the group serves approximately 50 customers, from new challengers to established multinationals in Europe and the United Kingdom. What connects the teams? Passion for the energy market, deep expertise, and the ability to deliver business-critical software services securely and effectively. We are very pleased to welcome the knowledgeable teams of Ecedo and Jules.”
The acquisitions are supported by majority stakeholder Vortex Capital Partners. Jorre Bonjer, operating partner at Vortex Capital Partners commented: “Energy21, Ecedo, and Jules provide business critical software solutions that are developed based on deep market knowledge and many years of experience. With the further expansion of the product portfolio and the growing international footprint, the group is even better equipped to support current and new customers in the rapidly changing energy market.”