Osborne Clarke has advised Alantra’s Energy Transition Fund, Klima on its investment in Enmacc. Together with Chevron Technology Ventures and existing investors, Klima invested a double-digit million sum in course of the Series B financing round of the German tech start-up.
Digitalising the energy market – this is the goal with which Enmacc was launched in Munich in 2016. With its digital trading platform for electricity and gas, the start-up presents itself as an alternative to brokers and exchanges and, according to its own information, is already the largest trading platform for gas in Europe through which so-called OTC (over the counter) transactions take place. This refers to trading of gas and electricity, which happens many months or even several years before the actual delivery date. According to the start-up, more than 240 German municipal utilities, energy suppliers and other companies are already using the platform, and there are said to be well over 450 across Europe. In 2019, Enmacc was already able to secure EUR 7 million in a first round of financing. The start-up now wants to use the newly acquired growth capital to expand its platform.
“Enmacc has digitally transformed gas and electricity trading in an impressive way and quickly gained a large customer base in a conservative market,” said Bastien Gambini, Managing Partner at Klima Energy Transition. “We believe that Enmacc's unique combination of superior technology and industry expertise will make it successful across a broad spectrum of energy and environmental commodity trading. Its platform positions the company as a global leader in energy trading and an enabler of an accelerated energy transition.”
The team advising Klima Energy Transition Fund, led by Till-Manuel Saur, consisted of Nicolas Gabrysch and Robert Marx (all Corporate / Venture Capital), Dr Robert Oppenheim, Eric Romba and Tim Taesler (all FinTech / Regulatory), Dr Hendrik Schöttle (IT), Kamissa Kruse and Susanna Lorenz (both Employment).