Schneider Electric has acquired Green Angel Syndicate portfolio company Zeigo.
Green Angel Syndicate (GAS), the only angel syndicate in the UK specialising in the fight against climate change, today announces the sale of Zeigo. Zeigo is a climate tech platform that helps as many businesses as possible gain access to renewable energy. It matches renewable energy generators and suppliers to both corporate and utility off-takers, helping them to obtain power purchase agreements (PPAs).
Zeigo was funded initially by GAS in 2019. A GAS Member – a specialist in energy markets – was appointed as an Observer to the Zeigo Board. Following strong growth, GAS was pleased to participate in another larger funding round in 2020.
Cam Ross, CEO of Green Angel Syndicate comments: “It has been particularly pleasing to see how Zeigo’s CEO Juan Pablo Cerda and his team have been able to build their business from an idea to acquisition in such a short time. I am also really proud of the way our GAS specialist members have been able to contribute to that growth.”
Nick Lyth, Founder and President of GAS says: “This exit is particularly gratifying in view of the acquirer. Schneider brings the very best credentials to the sector. Its purchase of Zeigo is testimony to the real quality of the service developed by Zeigo, and an endorsement of its critical relevance to the renewable energy sector.”
Zeigo founder and CEO Juan Pablo Cerda says: “It has been great working with GAS and interacting with investors driven by their commitment to climate change. In 2019 we progressed rapidly from initial concept to industry recognition, garnering support from a strong network of energy and technology investors which was critical to our success.”
Companies are increasingly using utility-scale renewable energy power purchase agreements (PPAs) to decarbonise. For most companies, the PPA procurement process can be time-consuming and complicated. Digital solutions like the Zeigo platform reduce the PPA procurement and management burden by simplifying and accelerating the process.
“As the world’s largest advisor to corporations on renewable energy procurement, we know that speed and complexity are two of the barriers that keep some corporations out of the PPA market,” said Steve Wilhite, SVP for Schneider Electric’s Sustainable Business Division. “By adding the Zeigo technology and team to our existing portfolio of services and solutions, we will be able to provide even greater value to our clients worldwide. My congratulations to Zeigo on this significant milestone.”