Renewables analytics provider Orennia closes USD-25m funding round

Orennia Inc, the developer of an all-in-one data and analytics platform supporting the energy transition field, has completed a USD-25-million (EUR 22.8m) Series B financing round, it announced on Tuesday.

Based in Calgary, Alberta, Orennia is a provider of analytics and insights across the renewables, storage, clean fuels and decarbonisation sectors. Its platform allows users, including project developers, investors and bankers, to reduce error, grow faster and increase returns on invested capital.

“This Series B investment will allow Orennia to expand our team further, while executing on our product roadmap and continuously building accurate insights for our clients,” commented Tanya Baeza, Orennia’s co-founder and CFO.

The investment in the software company was led by independent investment management firm Wellington Management and supported by existing backers Quantum Innovation Fund, NGP, Veriten and Tupper Lake Partners. As a result of the transaction, Michael DeLucia, sector lead for private climate investing with Wellington Management, and Jeffrey Harris, partner with Quantum Energy Partners, are both joining Orennia’s board of directors.

(USD 1.0 = EUR 0.912)

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