Yesterday, ComTech Advisory visited with Energeya and had a high-level demonstration of the company’s software product XDM© Suite. Energeya was founded in 2008 with the founders coming from Excelergy. Based in Italy with an office in Florida, the company quietly set about upgrading those assets and building a strong local client base. As might be expected with that pedigree, Energeya offers a suite of software that crosses over from wholesale to retail energy market activities and offers a broader functional footprint than many of its competitors. The platform is marketed as the XDM© Suite. Energeya already has a remarkably strong customer base that includes GME, ENEL, Edison, GasTerra, Axpo, Alpiq and many others across southern and western Europe and the USA.
There are a number of interesting things about Energeya and its XDM© Suite. Firstly, the company has utilized open source tools and applications as its building blocks and secondly, it recognizes that transactional data should be maintained in a relational database but that other more complex data such as time series data, for example, is better off being kept in a more appropriate database. It therefore utilizes side-by-side databases to obtain the best performance for transactions and intensive analytics. The XDM© Suite also has a very highly personalizable User Interface allowing individual users to set up as they prefer.
The suite also has that broad range of functionality including traditional ETRM functionality with Pricing, Quoting, Demand Forecasting, Planning, Optimization and much more. Being highly modular, users can construct their solution footprint accordingly. A recent addition to the suite is for compliance but the Compliance module can be used with third-party ETRM solutions too to monitor and report on thresholds and to identify, structure and report trade data to the appropriate third-parties.
In 2013, Energeya obtained external funding from Venice PMI S.p.A., an investment holding focused on small and medium sized companies in Italy, fully owned by Palladio Finanziaria S.p.A., with a minority stake in the company. At that time, Alessandra Todde, CEO of Energeya, commented, “The operation has the objective to strengthen the company not only in terms of assets. We really believe in our development project, and we realize that joining with an investor “entrepreneur” like Venice PMI will allow us to go even further.
Possibly as a result of that funding, the company has expanded its operations recently, opening a UK entity and operation based in London and recruiting some senior and very experienced sales and support staff for that office. It has also relocated in Italy to a more spacious location.
Plainly, Energeya is stepping up its activities and we expect it to be competing for more business across Europe and beyond with what looked to us like a strong and broad product offering that ought to compete well with anything currently in the European ETRM software market.