3 min read

Feb 01, 2017

by Invenergy Team

Feb 01, 2017

power lines

Introducing Aquilon: Improving Energy Trading

At Invenergy, ourentrepreneurial spirit permeates our culture. We constantly look for ways toinnovate and we encourage employees across the company – in every aspect of thebusiness – to do the same. No creative idea is ignored.
A Next-Generation Robust Solution: Invenergy is thrilled to invest in Aquilon Energy Services and its platform designed tobring automation and efficiency to energy settlements in Power, Natural Gas,Crude, and ISO. Nearly 50% of monthly tie-outs for Natural Gas trading have discrepancies and can take several days to properly reconcile. This slows downtrading volumes, adds complexity to the audit process, and can create financialliabilities and costs for trading firms that have to maintain capital on theirbalance sheets to cover unsettled trades.
Improvements in cloudcomputing and the ability to aggregate and optimize data through softwareplatforms allow companies to drive out inefficiencies in complexprocesses.
Aquilon Energy Servicesis developing the first cloud-based platform that enables buyers and sellers toautomatically settle both physical and financial energy transactions. WithAquilon, traders can track, review, and approve transactions as well asidentify discrepancies and collaborate with their counterparties to resolveissues – all through a single, simple and robust platform. Aquilon enablesusers to strengthen their financial controls and minimize risk effectively. Asoperators and traders ourselves, we understand the impact that this can have inthe industry.
Strong Business Model: Aquilon unlocks massivegrowth potential with a capital efficient model: with “Pro” access, payingcustomers can use the portal to settle with all of their counterparties who inturn can use the platform to access the transaction data and invoices at a “Basic”access level. More users on the platform invite other counterparties, drivingadditional traffic and volume and amplifying the network effects. Majorcounterparties like Citi, Goldman Sachs, Macquarie, Invenergy, (all investorsin the company) as well as Dynegy, Talon, and Twin Eagle are already signed upon the system, powering Aquilon on its way to becoming the gold standard in theindustry. The growing strength of both the product portfolio and thecounterparty network create powerful and self-reinforcing advantages that inturn fuel greater adoption.
Team: Aquilon is led by JeffWagner and Mike Egan, who previously worked together to develop Textura -- asimilar platform for automating transactions in the construction industry(Textura went public and was recently acquired by Oracle). Jeff and Mike areseasoned entrepreneurs with experience building and scaling solutions forfinancial operations across a variety of sectors. The team is driven and –importantly – not afraid of dealing with a complicated industry. In addition tomanagement, Aquilon’s strategic investors (Citi, Goldman Sachs, Invenergy,Macquarie) are committed to providing resources and support as Aquilon expandsits product offering and develops the network, both crucial elements of thecompany’s success.
Our Value Add: Invenergy can drivebroader industry adoption, provide insights into product development, and be achampion for the company.
Invenergy is helping togrow the volume and scale of Aquilon’s counterparty network, and we arecommitted to helping Aquilon reach a broad set of additional customers – fromasset owners and operators to utilities and financial traders. Furthermore, asa progressive insider in the energy industry, we can help inform the design ofadditional solutions, particularly for Independent System Operator (ISO)products.
We are excited to partnerwith the Aquilon team and our co-investors to bring solutions that lower costs,improve efficiency, and deliver better outcomes for the energy value chain.
Interested in joining Aquilon? Job openings are posted HERE.
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