EQS-News: ENCAVIS investment in TokWise: Joint development of AI-powered Software-as-a-Service (SaaS) to optimise electricity sales
EQS-News: ENCAVIS AG
/ Key word(s): Investment/Strategic Company Decision
Corporate News
The TokWise platform enables power producers, such as Encavis AG, as well as industrial electricity consumers, to link their assets directly to the power exchanges and thereby take control of the purchase and sale of electricity. In addition, the company has built a unique Data Science team and expertise focused on energy markets to develop algorithms that enable complete automation of power trading decisions. Thus, TokWise's AI allows to maximise the value of every kilowatt-hour. “The investment in TokWise enables us to jointly develop completely new software solutions aiming to adapt the production, consumption and storage of our electricity to the constantly changing market environment,” said Mario Schirru, CIO/COO of Encavis AG, explaining the acquisition of the minority stake in TokWise. “In addition, we can use this expertise in algorithm-based power trading and balancing Group management to optimise the charge and discharge of our battery in Hettstedt,” adds Schirru. “The strategic investment from Encavis will open new opportunities for us by giving TokWise an exposure to pan-European platforms, industry expertise and access to new markets,” says Krasimir Kolev, Co-founder of TokWise. “The common perspective on future energy markets will allow us to accelerate our growth and develop new product lines,” adds Julien Marcenac, Co-founder and Head of Energy Data Science.
About ENCAVIS: Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialized provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe. ENCAVIS is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “A” level and ISS ESG with their “Prime” label.
About TokWise: TokWise is founded in 2018 by three entrepreneurs in Sofia, Bulgaria with the mission to accelerate the digital transition in the energy industry. The company has built AI-powered SaaS to optimise market decisions and efficiently manage renewable portfolios. TokWise software solution provides the instruments for renewable energy players to become active market participants. The platform bridges the gap between physical assets and complex electricity markets. It offers scalable data management and AI native SaaS for complete automation of trading decisions.
Contacts:
TokWise Ltd
14.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | |
Große Elbstraße 59 | |
22767 Hamburg | |
Germany | |
Phone: | +49 4037 85 62 -0 |
Fax: | +49 4037 85 62 -129 |
E-mail: | [email protected] |
Internet: | https://www.encavis.com |
ISIN: | DE0006095003 |
WKN: | 609500 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1725799 |
End of News | EQS News Service |
|
1725799 14.09.2023 CET/CEST
Encavis AG Aktie
Die Community unterstützt Encavis AG leicht, mit mehr Buy- als Sell-Einschätzungen.
Obwohl das Kursziel von 15 € unter dem aktuellen Kurs von 17.02 € für Encavis AG liegt, zeigt sich ein negatives Potenzial von -11.87%.