Amsterdam-based climate tech company Dexter Energy has raised €23 million in a Series C funding round to enhance its AI-driven forecasting and trade optimization services for renewable energy and batteries. This round was led by Alantra’s energy transition fund, Klima, with participation from Mirova and continued support from existing investors like ETF Partners, Newion, and PDENH.
Dexter aims to support the transition to a carbon-free power system by making short-term power trading more efficient and profitable for renewable producers. Its software helps energy companies balance the electricity grid and optimize the use of solar, wind, and battery storage, which is crucial in today’s volatile energy market.
As renewables increase in Europe—from 34% of electricity generation in 2019 to a projected 70% by 2030—producers face challenges like price volatility and declining subsidies. For example, renewable energy producers in the Netherlands have seen their revenues drop by over 30% since 2019 due to market cannibalization and rising balancing costs resulting from forecasting errors.
Dexter’s technology enables producers to maximize the value of their renewable assets by optimizing production across various markets and implementing automated trading strategies, allowing energy companies to increase their revenues significantly.
How the funding will be used: With the funding, Dexter will expand its solutions for battery trading, enhance its optimization tools for wind and solar energy, and enter new European markets.
Dexter will also accelerate the development and rollout of its asset-backed trade optimization solutions for wind and solar across Europe. Dexter will also utilize the funding to accelerate the development and deployment of its solutions for battery trade optimization, initially in the Netherlands and subsequently across key European markets.
KEY QUOTES:
“We’re excited to welcome Klima aboard. They share our belief that AI is now essential infrastructure for an electricity grid increasingly powered by renewables and storage. This investment enables us to grow our team, expand into new markets, and redefine short-term trading for wind, solar, and battery portfolios. In doing so, we can help more companies get the most out of their clean energy and support them in balancing the grid.”
Luuk Veeken, CEO and founder of Dexter Energy
“Dexter Energy exemplifies the kind of cutting-edge energy tech we seek to invest in at Klima: solutions that combine advanced AI with deep energy market expertise to drive real impact. Their ability to optimize renewable and battery trading in and across multiple complex markets will be critical as Europe scales its clean energy infrastructure.”
Iñigo Echaniz, Partner at Alantra’s Energy Transition fund, Klima
“We are excited to partner with Dexter and join the journey with Klima and historic investors. We have been impressed by Dexter’s product and the team’s ability to scale in Europe. This strategic investment reinforces our commitment to advancing technology and energy solutions, while creating valuable synergies with our existing infrastructure portfolio.”
Anne Boulet, Investment Director at Mirova
