Dexter Energy has secured €10.5 million in Series B funding to enhance its AI forecasting solutions and is poised for significant growth in the renewable energy sector.

Target Information

Dexter Energy, an AI forecasting specialist based in Amsterdam, has rapidly emerged as a key player in optimizing and balancing renewable energy sources. Established in 2017, the company has developed advanced machine learning algorithms that assist energy firms in effective management of wind, solar, and storage resources. With a portfolio that includes progressive energy companies such as Axpo, Greenchoice, GigaStorage, NieuweStroom, and Pure Energie, Dexter Energy is well-positioned to make significant contributions to the energy transition.

Industry Overview in the Netherlands

The Netherlands is experiencing a substantial shift towards renewable energy sources, marked by an increasing reliance on wind and solar power. This transition poses challenges for energy companies, particularly in balancing supply and demand. Established fossil fuel power plants used to provide on-demand electricity; however, the reliance on renewable energy means that supply is variable, depending on weather conditions.

Costs associated with balancing this renewable energy supply have surged, reaching €20 billion in 2022 due to a 60% increase. As the share of renewable source