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Neas Energy Selects Allegro for Expansion of European Natural Gas Business

Allegro’s Energy Trading and Risk Management Solution Will Support Neas Energy in Handling Multi-Market Trading Complexity

London: August 06, 2014 – Allegro Development Corporation today announced that Denmark’s Neas Energy has selected the Allegro 8 platform to manage their European natural gas trading operations.

Neas Energy is an international energy company specialising in the optimisation of physical energy assets in European energy markets. Based in Denmark with offices in Germany, Sweden and the UK, Neas Energy represents a diversified Pan-European portfolio that includes combined heat and power, renewables (VPPs) and certificates.

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Faced with growing business complexity, the company needed to move beyond its legacy spreadsheet-based gas trading and risk management system to a robust, best-of-breed solution capable of providing instant visibility to manage diverse trade information and developing business opportunities.

Competing against other established ETRM vendors, Allegro’s flexible architecture and extensibility ultimately led to its selection at Neas Energy. The Allegro 8 platform offers the scalability necessary to accommodate the company’s vision for growth and expansion into new and emerging markets.

“The flexibility of the solution provided by Allegro and the potential for our IT development team to enhance it to suit evolving demands and supplement other business critical in-house developments made Allegro the right choice for us,” said Bjorn Skovhus, EVP of Energy Markets, Neas Energy. “Allegro’s proven track record plus the advanced technology provides us with an effective transaction management system. Considering our ambitions to expand our European footprint, this solution provides us with a strong systemic foundation to further grow our business.”

About Neas Energy

Neas Energy is an independent energy trading and management company. Established in 1998 during the liberalization of the Nordic energy market, today Neas Energy is active in more than 20 European countries. At Neas Energy we want to be the best at what we do, we want to provide our clients with the best services and attract the best people in the business. To pursue this we have built our company culture and corporate values around a simple and yet great promise to ourselves: “We bring our best.” NEAS headquarters are located in Aalborg, Denmark, with offices in London, Hamburg and Stockholm. For more information please visit www.Neasenergy.com.

About Allegro Development

Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of deep industry expertise, Allegro provides real-time intelligence and decision-making capabilities, from the source of the commodity (ground), through transportation, to the commodity consumer. Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners.

For further information please contact Samantha Johnston at media@allegrodev.com or +1.214.237.8149.