Second Foundation, an algorithmic energy market trader, will 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.
Chez 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.
As part of the transaction, DES Holding will continue to use the Nano Energies brand.
Second Foundation is a spot markets trader. It operates globally, with fully owned subsidiaries in Switzerland, Germany, the United States and Japan. Vojtech Kačena, co-founder and majority shareholder of Second Foundation, said the acquisition of Nano Energies’ flexibility aggregator complements the company’s previous strategic moves designed to ensure it offers a comprehensive portfolio of services.
