Aegir Insights Raises €8.5M to Build the Next Generation of Its Software and Data to Accelerate Offshore Wind Investments
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The €8.5M Series A funding for Aegir Insights underscores the growing investor confidence in the offshore wind sector, a key component of the global renewable energy transition. The capital infusion will likely bolster Aegir Insights' capacity to refine its software-as-a-service (SaaS) offerings, which are essential for optimizing offshore wind project development. Given the complexity and duration of offshore wind projects, advancements in decision-making tools can significantly reduce lead times and costs, improving the return on investment for developers and investors.
Furthermore, the expansion of Aegir Insights' client support and product roadmap aligns with the broader industry trend towards digitalization. The ability to simulate price-competitive auctions and analyze hybrid assets will be crucial as the market matures and competition intensifies. The company's focus on integrating system solutions also reflects the evolving energy landscape, where interoperability and multi-technology approaches are becoming increasingly important.
The investment in Aegir Insights is not only a business decision but also an environmental commitment. By enhancing the efficiency of offshore wind project development, Aegir Insights is contributing to the acceleration of clean energy adoption. This aligns with international goals to expand offshore wind capacity, as outlined by IRENA. The company's technology could play a pivotal role in reducing CO2 emissions by enabling more strategic and economically viable renewable energy projects.
Moreover, the emphasis on data-driven solutions to restore profitability while reducing CO2 emissions reflects a shift in the cleantech sector towards sustainability that is also financially attractive. Aegir Insights' alignment with Climentum Capital's mission to significantly reduce CO2 emissions underpins the broader trend of integrating environmental objectives with business strategies.
The participation of climate tech-focused funds such as Seaya Andromeda and Climentum Capital in the Series A round highlights the strategic interest of venture capital in sustainable technologies. The offshore wind sector, with its high growth potential, presents a lucrative opportunity for venture capital firms specializing in climate tech. The expertise and renewable sector network that these investors bring could be instrumental in accelerating Aegir Insights' growth trajectory.
Additionally, the choice of investors with hands-on experience in scaling SaaS businesses within the energy sector suggests a strategic alignment aimed at establishing Aegir Insights as a market leader. The funding will likely enable the company to scale its operations and enhance its product offerings, which could position it as the 'gold standard' in offshore wind decision-making software, as envisioned by its investors.
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Aegir Insights, a
Copenhagen, Denmark -based leading provider of software, data, and intelligence for offshore wind investors, has raised€8.5M in Series A funding from climate tech funds - The round is led by Seaya Andromeda with the participation of Climentum Capital, both Climate Tech Article 9 venture capital funds
- The funds will be used to develop the next generation of Aegir Insights’ web platform, including investment decision software and data products serving offshore wind developers, investors, and governments
Offshore wind power is among the fastest growing segments within clean energy investments according to the International Renewable Energy Agency (IRENA)’s latest World Energy Transition Outlook (2023), indicating the necessity of offshore wind to grow from today’s 64 GW capacity to 494 GW by 2030 and reach 2,465 GW by 2050.1 However, the project development process remains long and complex, taking as long as 10 years from site identification to commercial operations.
Aegir Insights’ solutions play a crucial role in making data-driven decisions, optimizing development, and reducing costs, thereby accelerating investment in the sector. This is critical in the current environment of cost volatility to ensure optimal capital allocation and project economics. Aegir Insights’ existing client base includes leading developers such as BP, Equinor, and JERA, and it is expanding further into governmental and financial services segments.
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Aegir Insights was founded in 2020 by CEO Scott Urquhart and CCO Rikke Nørgaard, who, between them, have almost 35 years of energy industry experience working for major renewable energy players, including Ørsted and Vattenfall.
Scott Urquhart, co-founder and CEO of Aegir Insights, said: “We are excited to have found investors with such strong experience in scaling SaaS businesses in the energy sector.” Commenting further on the unique value proposition provided by Seaya Andromeda and Climentum Capital, he said, “Their hands-on experience and renewable sector network will help us accelerate our product roadmap, where we are aiming to set the market standard for offshore wind decision software.”
Rikke Nørgaard, co-founder and CCO of Aegir Insights, added: “Over the past three years, we’ve built a unique product offering, serving offshore wind developers, investors, and governments around the world. This is an important milestone in our journey, both for Aegir Insights as a company and for our clients, that will enable us to enhance our products and mission to accelerate offshore wind deployment.”
Pablo Pedrejon Garcia, Partner at Seaya Andromeda said: “At Seaya Andromeda, we are very excited to partner with Scott and Rikke on the next phase of Aegir’s growth. They have developed a unique solution that is poised to change how investment and planning are done in the offshore wind sector. Under their leadership and considering the huge opportunity within this vertical, we are convinced that Aegir Insights will become the ‘gold standard’ solution for offshore wind decision-making.”
Morten Halborg, Managing Partner at Climentum Capital stated: “In a crowded field of cleantech solutions, Aegir Insights brings clarity with a data-driven software solution. Aegir tackles real-world challenges in the offshore wind industry, offering an integrated platform that will restore profitability while significantly reducing CO2 emissions. Aegir's focus on logic and impact perfectly aligns with our mission to invest in companies that substantially contribute to our CO2 emissions reduction target of 1 million tons annually at fund close.”
Link to press images: https://we.tl/t-aTIeMrlt1E
About Aegir Insights
Smarter, faster, greener.
Aegir Insights is a technology-driven company offering decision-making software, data, and intelligence products for the offshore wind sector. Aegir Insights serves a global client base across corporate, financial, and governmental segments, with product coverage across more than 60 offshore wind markets.
Aegir Insights leverages data science and deep industry experience to help global renewable players make smarter decisions. Its expertise lies in contextualizing complex information through the use of proprietary models developed in close cooperation with industry and academia. Going beyond data, Aegir Insights brings independent strategic insights based on industry experience.
About Seaya Andromeda
Seaya Andromeda is the largest ClimateTech Venture Capital in
Seaya Andromeda is a fund of Seaya – the leading European and Latin American Venture Capital platform, with offices in
https://seaya.vc/seaya-andromeda
About Climentum Capital
Climentum Capital is a Venture Capital firm based in
The General Partners Malin Carlström, Dörte Hirschberg, Morten Halborg, and Stefan Mård target late Seed and Series A investments in the five sectors that demonstrate the largest CO2 reduction potential: Energy, Industry, Food, and Agriculture, Buildings, and Transportation. Climentum’s portfolio includes Continuum, Qvantum Industries, Jolt Technologies, Novatron, one.five, and more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240213625041/en/
Media contact:
Darius Snieckus
Chief Executive Editor, Aegir Insights
Email: darius.snieckus@aegirinsights.com
Phone number: +1 613 724 0044
Business Development contact:
Matthew Delany
Vice President - Business Development, Aegir Insights
Email: matthew.delany@aegirinsights.com
Phone number: +45 93 93 65 24
Source: Aegir Insights
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