Portfolio company spotlight

Backing companies that challenge the status quo: Our investment in Dexter Dexter: creating software to challenge how the world’s largest companies trade energy

The energy market is in transition and renewable energy is experiencing significant growth. In the old days of oil, gas, and coal-based energy, production was predictable - but with renewable energy like wind and solar, production is affected by the weather and output is trickier to predict. The trading market is also experiencing a step change in the way it operates. Where in the past energy trading had a day-ahead or even long-term lens, the market is now moving towards intra-day trading and last minute markets where fast access to current data is vital for pricing effectively. In March 2021 we invested in Dexter, a startup based out of Amsterdam and active at the heart of this transition. Initially too early for Newion, we followed all four founders and were impressed with their knowledge and the growth they achieved, convincing us all of their ability to reach a position of market dominance in the future. In addition to the impressive founding team, we were excited by Dexter’s technology which bridges both the need for more accurate predictions and the movement towards day trading, generating a powerful platform capable of taking advantage of the demand for a solution in this space. Using software that integrates AI to provide highly-accurate forecasting as well as price-optimization, Dexter provides capabilities for portfolio optimization to energy retailers, producers and large-scale energy consumers. In a market where companies are handling trading manually and in-house, and where existing solutions can’t cope with the growing complexity, Dexter’s technology and team puts the company in pole position to take advantage of the digitization of the global market, building on dominance we are already witnessing in the Netherlands and expanding internationally.