ESG has swooped to acquire a fellow energy technology company.
The Lancashire-based scaleup has expanded its data analytics offering by snapping up Edgbaston company Phidex.
Phidex is a provider of pricing, settlement and revenue assurance software and energy consultancy services.
ESG provides the complete software platform for energy providers, enabling critical solutions in market, customer, renewables and asset infrastructure data management in the UK and North America. The company serves over 300 blue chip energy players and over 40 million end users worldwide.
ESG combines a SaaS architecture, flexible integration and constant innovation with decades of energy sector experience to provide the most adopted software platform in energy retail markets globally.
“ESG and Phidex are both energy software and data specialists, with highly complementary service offerings and a shared vision of helping energy companies thrive in an ever-changing energy landscape,” said Matt Hirst (pictured), CEO of ESG.
“This powerful combination positions us uniquely in the market, allowing us to continue focusing on our clients’ needs and opportunities as a result of significant programmes like Market Wide Half Hourly Settlement in the UK, interval data in the US and the energy transition movement globally.
“This acquisition aligns with our strategy to further harness the power of data for our clients and effect positive changes across the market.
“As the energy market prepares for an exponential increase in energy settlement data being created, we see this as a wealth of data and insights to support profitable decision making for energy suppliers. Our joint expertise and experience will enable our suppliers to develop solutions that can target and serve the future demands of the market.”
Richard Carnall, founder of Phidex, stated: “We’re thrilled to be able to bring our team’s market expertise and industry-leading solutions to the broader ESG client base.
“We are excited to be a part of ESG and we look forward to the innovative solutions we can create together for the benefit of energy suppliers and providers globally.”