QOS Energy, Europe’s Leading Renewable Energy Management Platform, Raises €3 Million
17 January 2017
At the nexus of cloud computing, the Internet of Things and renewables, QOS Energy has experienced exponential and international growth over recent years.
The capital, raised from two independent growth equity investors: ETF Partners and current shareholder GO CAPITAL, will ensure QOS Energy increase this momentum. The investment will be used to enrich analytics, develop grid balancing and storage-ready services, and support continued international expansion.
Founded in 2010, the independent software vendor has rapidly expanded, securing a roster of Europe’s, North America’s and India’s largest renewable energy producers, asset managers and O&M services providers. These include NEOEN, CONERGY Services and SOLV, who chose QOS Energy for the data intelligence it provides across their portfolio.QOS Energy’s cloud-based renewable energy management system – Qantum® – collects data from millions of sensors and devices deployed across multiple solar, wind, biogas, hydro, storage and hybrid assets. The data is transformed into comprehensive analytics enabling professionals as varied as plant managers, analysts, energy traders and maintenance engineers to significantly improve operational processes and financial returns.
One of QOS Energy’s key success factors is its unique ability to provide renewable energy companies with a single platform to access performance analytics, dashboards and KPIs across all their assets. This supports renewable energy companies’ global acquisition, growth and diversification strategies by streamlining operations of an increasingly varied set of energy assets, plants and systems.
“For our clients to get maximum value from their assets they need to make sense of an enormous amount of data sourced from across their entire renewable portfolios. This is where we come in. Using our data science technologies, such as machine learning, we transform raw datasets into data intelligence to enhance financial returns. The capital injection will be used to further industrialise data management processes, and setup local branches to support our clients, on the ground, in our most active markets.
We have chosen to work with ETF Partners and GOCAPITAL for their experience and expertise in renewable energy and information technologies. Their independence towards clients, operators and manufacturers was critical to preserve our core values of innovation, transparency and impartiality. Just as importantly they share our vision and ambition – to enable the transition to sustainable energy sources by becoming the premier datahub for centralised energy information.”
Fabrice Bienfait, ETF Partners, a pan-European growth equity investor focused on sustainability, said:
“The consequence of the inexorable march to distributed, renewable energy across the world is the challenge in ensuring sustained, high performance across both renewables and the grid. Data analytics will be at the forefront of this revolution. QOS Energy, via their innovative Qantum® solution, have achieved a major breakthrough for renewable asset owners and operators.”
Jérôme Gueret, Investment Director-Partner at GO CAPITAL, also participated in the fundraising round :
“GO Capital has supported the development of QOS Energy since 2014 and we are very proud to support this ambitious growth project backed by a highly professional team. QOS Energy has all the right ingredients to become one of the world’s leading provider of renewable performance management.”
About ETF Partners
ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Our funds come from institutional investors, global corporations and family offices. We create value by investing in technology companies that make a difference. We call it ‘sustainability through Innovation’.For more insight into ETF Partners’ view on sustainability through Innovation, read our investor briefings.Environmental Technologies Fund 2 L.P. is supported by the European Union through the ‘Competitiveness and Innovation Framework Programme’ (CIP).
About Go Capital
GO CAPITAL is a venture capital company managing over € 120 million and mainly involved in innovative, highly technological companies based in the west of France. The Fund OUEST VENTURES II, which reinvests in the capital of QOS Energy, brings together Bpifrance, the Regions Brittany and Pays de la Loire, banking partners (Crédit Mutuel Arkea, Caisse d’Epargne, Pays de Loire, Banque Populaire de l’Ouest and Atlantique, the Caisses Bretonnes of Crédit Agricole and Crédit Mutuel CIC) and individual investors. GO CAPITAL, through its 8 funds, holds interests in nearly forty companies in the Digital, Greentech and Biotech sectors.