Cape Town-based startup Open Access Energy raises R13.6 million in seed funding

The funds raised represent the first tranche of a $1.5 million seed round for the company, which is expected to help it scale its operations, develop new capabilities, and strengthen its position in the energy sector.

Daniel Novitzkas, CEO of Specno, will work with the OAE team to accelerate their innovation potential:

“Gerjo (CEO of OAE) and his team have taken decisive steps to decentralise energy and ensure universal access to clean energy for all South Africans.

Our digital innovation agency will help your team navigate this massive undertaking, providing the support you need to innovate faster and deploy solutions faster.

“We believe that OAE has the potential to make a significant impact on our energy sector and we are pleased to confirm that our partnership with them will serve to support their mission at a strategic level, especially in terms of expanding their market reach as we aim to implement their software solutions in every municipality in South Africa,” concludes Novitzkas.

The startup has developed two software solutions aimed at streamlining and facilitating transactions between private energy producers (independent power producers (IPPs), energy traders and offtakers, and larger offtakers, including factories and other large energy users).

The startup aims to transform the South African energy sector by enabling future-proofing measures to increase grid reliability, reduce emissions and create new revenue streams for independent power producers.