Dexter Energy Receives €10.5 Million Investment

Dexter Energy, an AI-based renewable energy startup, announced that it has received €10.5 million in funding. The Series B round was led by Astelia and ETF Partners. PDENH, Rockstart and Newion also participated in the Netherlands-based startup's round. The startup will use the €10.5 million investment to grow its team. It will also play an active role in the venture's expansion into the European market. The startup performs short-term production forecasts in solar and power plants. In other words, it makes forecasts for renewable energy sources.

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Dexter Energy Will Manage Companies' Renewable Energy Production

Dexter Energy uses meteorological data to generate AI-based data on renewable energy production. The Dutch startup was founded in 2016 by Pieter Broekema, Luuk Veeken and Hubert Penn. Currently, it is not possible to come across models that accurately predict the production of renewable energy sources. For this reason, we can say that Dexter Energy has an important place in the sector.

The startup manages energy by predicting how much renewable energy companies produce. In short, it aims to change the way renewable energy companies do business. Recently, there has been a lot of investment in the renewable energy resources sector due to the Russia-Ukraine war. Especially the fear of an energy crisis in Europe has accelerated this investment.

According to estimates, the transition from fossil fuels to renewable energy will save an average of 12 trillion by 2050. Monash University and Oxford University collaborated on a study on the subject. In the research, past price data on both fossil fuels and renewable resources were analyzed in detail. The costs will drop significantly with the transition to renewable energy. The energy provided to the global economy will increase.