The Series B financing round includes investments from Citi, Goldman Sachs Main Strategic Investments, Invenergy and Macquarie Group-and all four companies committed to using the Aquilon Energy Settlement Network (ESN)
‘The companies investing in our company have major trading and settlement operations and realized how we can automate settlement processes, strengthen financial controls, improve risk management and improve efficiency,’ said Jeffrey Wagner, founder and CEO of Aquilon Energy Services. ‘Their participation in the network will broaden its reach and increase its value to users. This funding round will allow us not only to expand our Energy Settlement Network, but also to enhance the features and functionality of settlements with independent system operators (ISOs) as well as transactions involving power, natural gas, crude oil and refined products. ”
Aquilon has designed the ESN to address the long-standing industry need for automation to manage the large amount of data and information involved in energy settlements. It enables energy companies and financial institutions to track, review and approve their transactions, identify differences and work with counterparties to resolve exceptions within a single easily navigable interface.
Explosion of data in the energy sector
‘As the growth of renewables drives the energy industry to change prices every five minutes, the number of data commodity operations professionals need to manage-and the speed with which they need to do so-is rising,’ Wagner said. ‘As a result, time-critical yet manual settlement processes in the industry pose increased business risks. Over the last year, we have worked closely with major industry players to develop our cloud-based settlement platform. The result is a collaborative network that automates the multiple steps of the settlement process to increase efficiency and improve compliance and risk management. ”
As users of the Energy Settlement Network, Citi, Goldman Sachs, Invenergy and Macquarie Group expect instant access to settlement data, information and counterparty communications
‘Aquilon has increased automation in the settlement process with the Energy Settlement Network,’ said Owen West, Head of US Natural Gas and Power Trading at Goldman Sachs. ‘Additionally, as members of the network, we will now be able to access the data and information that we need in one place. ”
The new members of the network will be able to automate settlements and complete invoices and payments in a web browser-based system.
‘Managing energy settlement data is becoming more and more challenging, and the ESN enables commodity operations professionals to significantly improve their performance,’ said Ravi Ramachandran, Managing Director and Chief Electronic Business Officer for Global Commodities at Citi. ‘We are excited to have a key stake in a company that is at the forefront of innovation in the energy industry. ”
For more information on the Energy Settlement Network, visit www. Aquiloninci Com or 888-943-0340
Aquilon Energy Services Inc.
Inc. Aquilon Energy Services Develops innovative solutions for the energy industry for software and services Aquilon’s team combines deep industry insights with advanced technology to bring reliable, collaborative solutions to the energy market. The Energy Settlement Network (ESN) enables energy stakeholders of all sizes to manage, access and settle large volumes of energy, oil and natural gas transactions with their counterparties. The company is based in Lisle, Illinois, and is headquartered in Houston. Please visit www for more information. Aquiloninci Come on,
About the City
Citi, the world’s leading bank, has approximately 200 million customer accounts and operates in more than 160 countries and jurisdictions. Citi provides a wide range of financial products and services to consumers, corporations, governments and institutions, including consumer and credit banking, corporate and investment banking, securities brokerage, transaction services and wealth management.
Additional information can be found at http://www Citigroup of the comm | Twitter: @Citi | YouTube: http://www Youtube Item C/citi | Blog: http://blog Citigroup of the com/ | Facebook: http://www | Uh, Facebook Com/citi | LinkedIn: Linkin Com/Company/Citizen
About Goldman Sachs:
Group Goldman Sachs, Inc. It is a leading global investment banking, securities and investment management firm providing a wide range of financial services to a substantial and diversified client base, including corporations, financial institutions, governments and individuals. Founded in 1869, the company is headquartered in New York City and has offices in all major financial centers around the world.
Invenergy drives energy innovation Invenergy and its affiliated companies are developing, owning and operating large-scale renewable and other clean energy generation and storage facilities in the Americas and Europe. Invenergy’s home office is located in Chicago and has regional development offices in the United States, Canada, Mexico, Japan and Europe.
Invenergy and its affiliated companies have developed more than 13,000 MW of projects in operation, construction or advanced development, including wind, solar, natural gas and energy storage projects. Invenergy also invests in high-growth technology companies that improve energy costs, reliability and security. Please visit www for more information. Invenergiellc Come on,
About Group Macquarie
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and fund management services. Macquarie’s main business focus is on making returns through the provision of a diverse range of services to clients. Macquarie is acting on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 offices in 28 countries. Macquarie employs approximately 13,500 people and has assets under management of more than $377 billion (as at September 30, 2016) More information can be found at www Macquaria Come on,
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