Calgary’s Orennia has raised a USD $25 million Series B financing to accelerate the growth of its data and analytics platform.
The investment highlights Orennia’s differentiated solution for the energy transition with insights across the renewables, storage, clean fuels and decarbonization sectors.
Orennia helps increase returns for the most sophisticated developers, investors, bankers and corporations by providing up-to-date and reliable energy transition analytics.
The round was led by Wellington Management with participation from existing investors Quantum Innovation Fund, NGP, Veriten and Tupper Lake Partners.
“As the world decarbonizes its energy stack, trillions in capital need to be deployed. Without accurate data and predictive analytics, developers and investors will struggle to deploy capital efficiently and maximize returns,” said Brook Papau, Orennia’s co-founder and CEO.
“Our platform continues to be the only solution developers and investors have to find accurate and actionable information focused purely on the energy transition.”
Orennia’s platform helps its clients leverage technology to reduce error, grow faster and increase returns on invested capital.
Orennia’s clients rely on differentiated data and advanced analytics across the solar, wind, storage, power, RNG, CCUS, clean fuels and hydrogen sectors to out-compete their peers, win the energy transition and mitigate the effects of climate change.
“Our company has grown substantially since launch. 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,” said Tanya Baeza, Orennia’s co-founder and chief financial officer.
“We are honored to partner with this investment team, who share our vision of the future, as we accelerate our growth and innovation.”
Orennia added Michael DeLucia, sector lead for private climate investing with Wellington Management, and Jeffrey Harris, partner with Quantum Energy Partners, to its board of directors.