New Etpa CEO sees energy trading as the epicentre to the energy transition
Michiel’s skillset combines expert knowledge in the cleantech space with the experience of an accomplished CEO. Michiel has operated in a CEO role for over 13 years across three different companies. Each time scaling their operations to 100s of employees and raising millions of Euros in fundraising. Most recently as CEO & co-founder of Frits.com, an online mortgage platform that challenged traditional mortgage brokers. There he championed customer interest by challenging how the banks calculated customer fees. This resulted in new legislation from financial authorities and catapulted the company’s growth.
Now at Etpa, Michiel plans an ambitious course for the company. He will steer Etpa towards a strategy that leverages their state-of-the-art technology. Bringing unparalleled processing speeds, improved ease of access to an energy trading platform and lower cash requirements for settlements. Etpa are on track to formally launch their Intraday platform in June 2023 after recently securing a European NEMO trading license.
When asked about why he joined Etpa Michiel had this to say: “Energy trading will become the epicentre of the energy transition. What’s unique about Etpa is that our settlement makes it possible for companies to trade without the need of an expensive clearing bank. Enabling many companies, who previously couldn’t trade, to develop new business models to accelerate the transition away from fossil fuels.
Our platform is built on a modern tech-stack which can support the increased trading volume in the intraday market and give our clients access to unparalleled speeds in trading. It’s the right product at the right time!”
By removing the need for a clearing bank, Etpa’s customer base can range from big international energy utilities like Vattenfall and Eneco, to smaller energy traders like greenhouse owners and energy storage facilities.
The platform is a fast, affordable and reliable exchange that allows participants to exploit the flexibility inherent in the new (renewables focused) energy system. A system which is highly volatile with fluctuating prices for power. Etpa allows companies of all sizes to easily access energy trading revenues with a guaranteed fair market price, further incentivizing the transition to clean energy.
After raising a 5M EUR Series-A last year led by Amsterdam-based SET Ventures and ABN AMRO Sustainable Impact Fund, Etpa is well placed to begin aggressively scaling their solution. “Etpa is a complete fit with our investment thesis.” says SET Ventures co-founder and lead Partner for the Etpa deal, Rene Savelsberg. “Their core objective is to create a well-balanced and transparent energy system by creating additional liquidity for trading. This gives smaller participants access, creating more value for flexibility with renewable assets. We’re excited to see how Michiel will bring them forward!”
Pauline de Valk from ABN AMRO Sustainable Impact Fund says: “We are very pleased that Michiel joined Etpa. He brings valuable experience with scaling-up businesses as well as further developing the proposition. These topics are key to further accelerate Etpa’s growth and we look much forward to this next phase together with Michiel.”
END OF RELEASE
Etpa offers a platform that enables asset owners to optimise their energy portfolio through short-term trading. Participants range from international energy utilities like Vattenfall and Eneco to smaller energy traders like greenhouse owners and energy storage facilities. The platform also offers products used by grid operators to manage congestion.
A fast, affordable and reliable exchange allows participants to exploit the flexibility inherent in the new energy system, which is highly volatile with fluctuating prices for power. Meaning companies of all sizes can easily access energy trading revenues with a guaranteed fair market price, further incentivizing the transition to clean energy.
For further information please visit etpa.nl or contact:
About SET Ventures
SET Ventures is a lead investor in Etpa’s Series-A funding round. Since 2007, Amsterdam-based SET Ventures has invested in digital technology for a carbon-free energy system by backing pioneering founders with capital, community, and insights. SET Ventures invests in companies with sustainable solutions and a strong digital DNA leading the systemic change of how energy is generated, distributed, stored, and consumed in sectors such as distributed infrastructure, energy retail, buildings, mobility, and industry as well as enabling technologies.
For further information please visit SET Ventures online or contact:
Head of Marketing
+316 251 46676
About ABN AMRO Sustainable Impact Fund
The ABN AMRO Sustainable Impact Fund invests in companies with a positive environmental and/or societal impact. The fund has 500 million euros at its disposal and is exclusively financed and managed by ABN AMRO. It uses its funds to invest through direct shareholdings in the key transition sectors and contributes to accelerating the energy transition, the transition to a circular economy, and a more socially responsible world in general.
For further information please visit ABN AMRO Sustainable Impact Fund online or contact:
Pauline de Valk
The Etpa Series-A round is supported by the financial backing of the European Union (“EU”) with capital from the ERP — EIF Facility.