South African startup Open Access Energy (OAE) announced a $1.8 million seed funding round on June 18. The oversubscribed round was led by E3 Capital and Equator VC, with participation from existing investor Factor E Ventures.
This funding aims to accelerate OAE’s product development and expand its customer base as demand grows for flexible, decentralised energy infrastructure.
AI-powered platforms transforming electricity trading
Open Access Energy, established in 2021, is a developer of AI-driven software platforms, Amptera and EnergyPro. These platforms facilitate real-time electricity trading and energy management.
They also facilitate energy wheeling, allowing decentralised renewable energy producers to deliver electricity through existing grid infrastructure to consumers such as municipalities and independent power producers (IPPs).
The software automates backend processes, including metering, forecasting, risk management, and transparent settlements, ensuring efficient energy supply and demand matching in real time.
CEO Gerjo Hoffman emphasised the role of private generation in South Africa’s energy transition, stating, “This funding allows us to scale the tools that Independent Power Producers and Energy Traders need to participate in and benefit from the liberalised energy market. We’re proud to have the support of leading investors who understand the opportunity and are committed to building long-term impact.”
Meeting South Africa’s energy challenges with innovation
South Africa’s energy sector faces challenges such as an ageing coal-dependent grid and frequent reliability issues.
Meanwhile, distributed renewable energy production is growing but often cannot efficiently match consumer demand, leading to excess clean energy despite unmet needs.
OAE’s technology addresses this gap by enabling decentralised producers to trade electricity seamlessly, supporting the country’s shift towards more sustainable and resilient energy systems.
Andrew Darge, lead on the transaction for E3 Capital, highlighted the importance of OAE’s solution, stating, “Open Access Energy has built a software-led solution for a real-world problem, enabling renewables to flow through existing infrastructure. The opportunity for digital technology to support municipal wheeling, embedded generation, and transparent settlement at scale is exactly what Africa’s power sector needs to drive the transition to lower carbon economies.”
Strategic growth and regional expansion plans
With the $1.8 million, OAE plans to accelerate product development and grow its customer base across southern Africa. The company is also exploring further strategic investment opportunities to strengthen its position in the evolving energy market.
Chairman James Irons noted the company’s focus on scaling and shaping the local energy economy, stating, “Building on this momentum, we can now focus on scaling our platform and shaping the future of the local energy market. We will continue to seek out further strategic investment options in the near future, with specific interests in securing a local investment partner.”
OAE’s work is pivotal as South Africa liberalises its energy market. This will enable private generation and trading to play a larger role in meeting the country’s energy needs while supporting the integration of renewables.