Verdane Invests in Cleanwatts
European growth equity leader Verdane has invested in energy company Cleanwatts. Cleanwatts grew year-on-year revenues by 65% in 2021 and expects 2022 revenue growth of more than 200%.
June 30, 2022. By News Bureau
The company offers innovative energy management solutions that help local communities unlock the benefits of optimized renewable energy consumption, generation, storage, trading, and balancing.
Portuguese energy management company Cleanwatts has plans to expand further into Europe and Asia. REC members can include residents, commercial and industrial businesses, municipal buildings, schools, hospitals, and universities that collectively contribute to the clean energy transition while advancing energy efficiency, lowering electricity bills, and creating jobs within the local economy.
Cleanwatts is in the process of building more than 80 energy communities, several of which are already operational.
Cleanwatts plans to allocate Verdane’s investment primarily to accelerate and expand its commercial presence in target markets, and to further develop Cleanwatts™ OS to anticipate evolving needs in local energy markets.
Together with Verdane, the company will also assess M&A possibilities if and where accretive to the Cleanwatts value proposition.
Michael Pinto, CEO and Co-Founder, Cleanwatts, commented: “Mitigating the rising cost of energy and supply constraints, while responding to an increasing demand for electricity and meeting decarbonization targets is an enormous global challenge. Fortunately, digitally enabled RECs now represent both an effective and efficient solution to address these problems. A wide range of viable technologies and regulatory frameworks are finally in place for our society to reframe its relationship with energy and pave the way for a cleaner, fairer, and more sustainable future. We are proud to partner with Verdane to address the rapid paradigm shift towards a more efficient and resilient decentralized energy network.”
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