Madrid, Spain, September 14, 2022 — Enverus, the leading energy SaaS company, announced today that it has acquired RatedPower, the SaaS company developing solutions that automate and optimize the feasibility study, analysis, design and engineering of solar power plants and electrical infrastructure to maximize the potential of photovoltaic (PV) plants and reduce their Levelized Cost of Energy (LCOE).
Founded in 2017 by Andrea Barber, Miguel Ángel Torrero and Juan Romero, RatedPower has more than 80 employees across engineering, product, business development, marketing and operations. The company boasts 1,400 users worldwide, has assisted in 20,000 projects, contributed to the production of 43 gigawatts in power – touching 22 million households – and have helped mitigate 17 million tons of CO2.
In October 2021, Seaya –the leading European and Latin American Venture Capital fund– led RatedPower’s €5.3M funding round through Seaya Ventures III, being the only financial investor in the company. In this acquisition, the founding team, Seaya, and the remaining minority shareholders have sold their stake in the company to Enverus.
“We are honoured to have been able to back such an outstanding team. Investing with purpose-driven founders that create a positive impact is core to our strategy and this proves that our commitment to sustainable tech companies continues to pay off,” said Carlos Fisch, Investment Director at Seaya. “We invested in RatedPower with an objective to expedite the shift to make solar power the world’s most relevant and competitive source. We are very happy to see that, less than a year later, this plan will be massively accelerated by joining forces with the world’s leading energy SaaS company”.
Enverus currently serves more than 440 power market participants, primarily in North America, and the addition of RatedPower’s technology and experience immediately expands Enverus’ value and growing portfolio of solutions in the solar industry and broadens its geographical coverage internationally.
“This is a great day for our future, as it validates the unique work we’ve been doing over the last five years,” added Andrea Barber, CEO of RatedPower. “We were born with the vision of digitalizing the renewable energy industry and making solar the world’s main energy source to accelerate the energy transition. Our mission aligns perfectly with Enverus and our combined strengths will place us in a privileged position to reach that vision while powering the new, global energy economy.”
“Much like our start decades ago, RatedPower is a trailblazer in digitalization, automation and efficiency, but in the rapidly growing solar market. Our common denominator is truth in data, strategic planning and optimizing efficiencies,” said Jeff Hughes, CEO of Enverus. “RatedPower and their solutions have disrupted the solar industry, helping clients realize their full potential, and together, we will accelerate our investment and expand our footprint within the power and renewables space. We will continue to provide our customers with solutions that enable them to grow and thrive in the future of energy.”
About Enverus
Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data, sourced from our partnerships to 98% of U.S. energy producers and more than 35,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing, and our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6000 customers in 50 countries. Learn more at enverus.com
About RatedPower
RatedPower helps companies discover the smartest ways to design and engineer utility-scale solar PV plants and maximize their potential through pvDesign, their software to automate and optimize the study, analysis, design and engineering of photovoltaic plants and its electrical infrastructure in all its stages. RatedPower has helped develop more than 43 GW in more than 160 countries. Bringing value to developers, IPPs, contractors, investors and manufacturers, helping them make better decisions, democratizing engineering knowledge and boosting the deployment of solar plants
About Seaya:
Seaya is a leading European and Latin American Venture Capital fund, with offices in Madrid and Mexico City, that invests in exceptional entrepreneurs who are building global technology companies.
Seaya raised its first funding in 2013 and currently manages over €500 million across five early-stage venture funds. Seaya accelerates the growth of startups by leveraging the founder’s strategic vision, providing them with Seaya’s global platform, its extensive network of founders, investors and multinational corporations, as well as all its experience in the global expansion of companies such as Glovo, Cabify, Wallbox (NYSE:WBX), Spotahome, Clarity AI, Clicars, Alma and RatedPower
