Exceedence Sets its Sights on the UK Renewables Market
While a number of companies are contemplating moving out of the UK in the wake of Brexit, Irish Fintech software company Exceedence is bucking the trend by rolling out its expansion strategy in the British market.
Exceedence, which has just launched an equity crowdfunding campaign on Crowdcube, is set to revolutionise the way renewable projects and technologies get planned and financed.
Financial modelling for renewable energy projects can be costly and, according to Exceedence CEO Ray Alcorn, no current solution gives all of the key players a proper ‘big picture’ view. That’s why his company has purpose-built software to provide a ‘helicopter view’ for these projects, helping to assess whether they will make or lose money, and to identify and manage risks effectively.
Exceedence has chosen the UK as the first stop on its growth journey as it has spotted a unique opportunity in the 5-year funding package announced for ORE Catapult. According to ORE Catapult, the UK plans to install 30 GW of offshore renewables by 2030, with a planned investment of £48bn in offshore wind infrastructure. They expect to create 16,000 new jobs and contribute more than £900m to the UK economy.
Exceedence is now set to tap into this opportunity by presenting a new way to technically and financially model, analyse and optimise renewable projects and to connect developers to governments and investors through a cloud-based platform. The company aims to connect the supply chain without the overbearing need for document control and auditing of spreadsheets, much like SAGE or Quickbooks has done for the accounting world. The strength of Exceedence’s software is not only quickly understanding the basics but also being able to analyse, optimise and ask those all important what-if scenarios.
Currently in excess of $330bn is spent per year on renewable energy projects globally and, according to Exceedence, at least 4,000 companies around the world could make use of this software. To support the launch of its cloud offering and an international roll out, Exceedence is currently raising capital on Crowdcube, a leading equity crowdfunding platform.
The campaign opened to the crowd earlier today and has already raised £145,930 which is 58% of its £250,000 target. They have global interest with pledges from UK, Ireland, Italy, Sweden, South Africa and Singapore. People wishing to look at the campaign should go to: www.crowdcube.com/exceedence.
For more information about Exceedence and its software, please go to www.exceedence.com.
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