Saudi-owned Fotowatio Renewable Ventures has made a $15 million investment in local energy software company Evergen.
Global renewables developer Fotowatio Renewable Ventures has made a $15 million investment in local energy software company Evergen, designed to catapult the business into international markets.has created a digital energy management system used by retailers, network operators, asset owners and operators as well as consumers to optimise the function of their renewables assets, including batteries.
Evergen CEO Ben Hutt said the company’s connection with FRV, which is part of Saudi Arabia’s Abdul Latif Jameel Energy, was almost accidental.The Aussie company was featured as part of the BBC series Humanising Energy, and this caught the attention of FRV, which made an inquiry through its website. “Our expectation is we’ll be able to partner with them and develop Evergen products that meet market needs.”
“They are exceptional operators and have built software products that provide significant opportunities to enhance the way renewable generation and storage assets perform at scale in a variety of contexts internationally,” FRV-X managing director Felipe Hernandez said.
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