Software and services provider Energy21 acquired by management and Vortex
Original press release
Software provider Energy21 enters into partnership with Vortex to accelerate growth in Europe
Amsterdam, 26 October 2022 – Management together with Vortex Capital Partners has acquired software and services provider Energy21 from its founders. For 25 years Energy21 has a market leading position in generating insights from energy market data. Management aims to build on the strong position it has as a technology partner for European energy companies and industrial clients. The company plans to further invest in its inhouse developed software while also expanding its international team of experts.
Energy 21 is based in the Netherlands and Portugal and provides software solutions and expertise to generate energy market insights and management information since 1997. Matching energy supply and demand is crucial for European energy players, the rise of renewable energy sources and the exponential increase in data demand a new way of working. Energy21 provides solutions that help customers retain maximum control over their energy operations.
“The increase in data offers opportunities for market participants to respond to moments of surplus and scarcity”, says Michiel Kuiper, CEO of Energy21. “An ongoing planning and steering process is required to operationalize a sustainable energy portfolio with each market player having its own dynamics. With our software, we facilitate these processes.” The team of around 70 employees mainly consists of consultants and software developers. The team has established long term partnerships with energy companies such as Eneco, Essent, PZEM and Vattenfall as well as industrial heavyweights like BASF and USG-Chemelot. Energy21 has annual revenues of about €10 million.
Together with Vortex, the company plans to invest significantly in further developing its proprietary software while also expanding its international team of experts. “The energy market is changing tremendously; from fossil to green, from central to local, but also from predictable to continuously adjustable. In addition to traditional energy suppliers, more and more participants are entering this dynamic market. We are keen to help those firms with the challenges posed by the rapidly changing market”, Kuiper says.
Jorre Bonjer of Vortex is excited about the collaboration: “The proprietary software combined with a strong team with deep industry knowledge makes Energy21 a very interesting and relevant company. During the last 25 years Energy21 has successfully established partnerships with tier 1 clients. We see growth opportunities in the Netherlands and abroad, both organically and through acquisitions and we look forward to support the Energy21 team with realizing their growth ambitions.”