- Repsol, through its investment vehicle Repsol Deep Tech, invests in the technology start-up Smarkia, together with MN8 Energy, one of the largest renewable energy companies in the US, founded within Goldman Sachs Assets Management.
- Repsol will transfer energy optimization technology based on artificial intelligence in addition to providing capital - a milestone in the investment ecosystem.
- MN8's entry into Smarkia's shareholding aligns with its strategy of investing in technologies that allow it to offer differential services to its customers, such as a storage management system for renewable generation plants.
- Committed to sustainability, the three companies will collaborate in developing energy management systems to boost efficiency and savings.
According to the company’s website press release on October 31, 2022, through its Deep Tech fund, Repsol has acquired 33% of the technology company Smarkia, a software-as-a-service platform that provides its customers with energy optimization solutions. For its part, the US renewable energy company MN8 Energy has acquired 37% of the startup. In the same operation, Repsol has transferred one of its energy optimization technologies to Smarkia, which will be in charge of its commercialization.
Repsol has found in Smarkia's technology platform a perfect complement to enhance the technology developed in its innovation center Repsol Technology Lab over the last few years. Now, researchers from both companies will share their experience in the digitalization of energy management to enhance current developments, using technologies such as artificial intelligence, the internet of things and edge computing. In turn, this combination will allow Smarkia to position itself at the forefront in innovative sectors such as flexibility markets or the optimization of renewable energy generation.
MN8's entry into Smarkia's capital aligns with its strategy of investing in technologies that allow it to offer digital solutions that help its customers' energy transition. In addition, MN8 Energy has one of the largest solar portfolios in the US, with 850 solar projects and an installed capacity of more than 2.6 GW, which makes it a key player in this collaboration, thanks to its experience in the operation of renewable energy assets.
Smarkia currently manages more than 400,000 metering points in more than 300 customers in 32 different productive sectors in Europe, the United States and Latin America. Among its clients are Repsol, MN8 Energy, Telefonica Tech and Solar360, and thanks to this technology it expects to continue its growth as a benchmark energy management platform.
