Second Foundation, an algorithmic energy market trader, agreed to acquire DES Holding, a flexibility aggregator and member of the Nano Energies group. The group develops virtual power plants in the Czech Republic, Croatia and Romania.
Czech-owned company Nano Energies Hrvatska became the first licensed independent aggregator on the Croatian market in August 2022. The number of aggregators is increasing in the region of South-East Europe, and except in Croatia they are also operating in BiH, Serbia.
The transaction marks the next step in Second Foundation’s strategy to gradually shift from focusing purely on financial algorithmic trading towards reaping the benefits of energy flexibility and smart management in renewable and other sources of energy, the two firms said.
Second Foundation is a spot markets trader
As part of the transaction, DES Holding will continue to use the Nano Energies brand. Of note, Second Foundation is a spot markets trader. It operates globally, with fully owned subsidiaries in Switzerland, Germany, the United States and Japan.
Vojtěch Kačena, co-founder and majority shareholder of Second Foundation, said the acquisition of Nano Energies’ flexibility aggregator perfectly complements the firm’s previous strategic moves designed to ensure it offers a comprehensive portfolio of services.
Kačena: The acquisition will mean a significant extension to the services already rendered to owners of solar and wind farms and owners of battery arrays
The acquisition of the company and the Nano Energies brand will mean a significant extension to the services already rendered by Second Foundation to owners of solar and wind farms and owners of battery arrays through its Germany-based subsidiary in.power, he explained.
Kačena said the synergies stemming from the combined skills and experience of both entities’ teams would allow energy producers to maximize the monetisation of their respective potentials in energy generation and utilization.
According to mathematician and entrepreneur Petr Zahradník, who owns Nano Energies, the company’s capabilities in the area of aggregating flexible energy sources and providing supporting services will be considerably enhanced by Second Foundation’s competence in spot markets trading.
It is the customers who will benefit most from the transaction, regardless of whether they are Central and Eastern European customers of the Nano Energies flexibility aggregator or German customers of in.power, the firms said.
The acquisition by Second Foundation is already the second such transaction involving subsidiaries of the Nano Energies group. Second Foundation acquired Nano Energies Trade in early 2022.