Open Access Energy (OAE) Pty Ltd, has secured funding of about $750, 000 from Factor E Ventures.
Open Access Energy (OAE) is South Africa’s first multilateral wheeling software platform that automates the matching of generation and consumption loads, allowing energy wheelers to execute accurate transactions seamlessly.
The company was founded in 2021 and has become a major player in energy management software, Amptera and Energypro platforms.
The platforms facilitate real-time energy transactions and enhance energy management for Independent Producers (IPPs) and municipalities.
In a statement this week, OAE said this initial funding, will be used to expand its technological capabilities, refine its software platforms, and increase its market presence in South Africa and beyond.
The investment is expected to enable the company to scale operations, develop new features, and strengthen its position in the energy sector.
Gerjo Hoffman, CEO of Open Access Energy, said
“Factor E Ventures’ investment arrives at a crucial juncture for both our company and South Africa’s energy sector. As we strive to decentralize energy and ensure universal access to clean power for all South Africans, this support will accelerate our innovation capabilities and market reach.”
Tenbite Ermias, Partner at Factor E Ventures, said
“we are excited to lead this initial investment in their $1.5 million seed round. OAE is well-positioned to tackle the country’s energy challenges and drive its transition to renewable sources. Our support highlights our belief in their potential to make a substantial impact.”
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