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
ENCAVIS investment in TokWise: Joint development of AI-powered Software-as-a-Service (SaaS) to optimise electricity sales
14.09.2023 / 07:04 CET/CEST
The issuer is solely responsible for the content of this announcement.
Corporate News
ENCAVIS investment in TokWise: Joint development of AI-powered Software-as-a-Service (SaaS) to optimise electricity sales
Hamburg, 14 September 2023 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) holds a 18% stake in TokWise Ltd, a start-up founded in 2018. The Sofia-based company has set itself the goal of accelerating the digital transformation of the way energy market participants buy and sell their electricity on the different markets. The company has already well-known customers across various European countries.
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:
The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to more than 3.5 gigawatts (GW), of which more than 2.1 GW belongs to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has around 1 GW of capacity under construction, of which more than 600 MW are own assets.
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.
Additional information can be found on www.encavis.com
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.
TokWise creates competitive advantage for customers, allowing them to maximise returns and control risk in today’s volatile energy market.
To contact Tokwise for more information and book a demo, visit https://www.tokwise.com
Contacts:
Jörg Peters
Head of Corporate Communications Investor Relations
Tel.: + 49 40 37 85 62 242
E-Mail: joerg.peters@encavis.com
TokWise Ltd
Krasimir Kolev
Co-founder | Business Development
Tel: + 359 898 66 84 64
Email: krasimir.kolev@tokwise.com
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