Strong Growth in 2023 will Support Volue’s Ongoing Journey

December is traditionally a time to pause and reflect on the passing year, looking back on successes and challenges, while focusing on the opportunities and possibilities of the next 12 months.  

It is also a period that encourages gratitude. Gratitude for experiences gained, lessons learned, and the growth of new and existing partnerships. I also want to take this opportunity to express my deep appreciation and gratitude for the people of Volue.  

With great people, delivering end-to-end platforms and technology services, we continue to drive our company forward. 

This work is generating increased revenues for energy companies not only in Europe but across the world, supporting a sustainable energy transition in the process. I thank my colleagues for their ongoing efforts over the last 12 months and look towards 2024 with optimism, excitement, and confidence. 

The importance of electrification  

Our world is changing.  

Electrification, or the process of moving away from fossil fuels, continues to gain momentum as an important response to global challenges. Its surge is propelled by a commitment to, and need for, increased sustainability, demands for greater energy security, and aims to reduce carbon emissions to combat climate change. I would argue that it is one of the greatest challenges of our time.  

Of course, a key driver to the success of this shift will be the wider adoption of renewable energy sources, like solar and wind power. This in turn will reshape the energy landscape with cleaner alternatives. Electrification stands as the main path to a greener future, redefining our approach to energy with unparalleled efficiency and environmental benefits.  

Volue’s work is directly supporting this electrified future. We have made significant progress during 2023 but know and understand that there is much more to come. This is an exciting prospect for myself and my colleagues.  

This was our biggest development project to date and illustrated the culmination of years of hard work, working together with some of Europe’s leading power producers.

We fully understand and appreciate that automation of optimisation and trading processes are key if power producers are to stay competitive. Smart Power facilitates that. To support that further, the platform’s ability to ensure optimal use of power portfolios will deliver increased resource efficiency, illustrating our strong focus on sustainability. 

With the growing share of renewables, power production, planning and trading has become more challenging and volatile. Volue’s Smart Power software will support our customers on the green energy transition by providing solutions for tomorrow’s challenges.  

Operational highlights  

The initial launch of Smart Power was quickly followed by the announcement that Spanish energy giant Iberdrola had signed a framework agreement with us for the software. Indeed, 2023 was a year of several important announcements to the media, markets, customers and stakeholders.  

Spring saw the launch of Spark by Volue’s first service, harnessing partner collaboration to deliver a data-driven smart-charging solution. Later, we announced a significant tender win with N1, in a deal that further strengthened our presence in the Nordic Power Grid market. 

May saw the acquisition of Enerim Oy’s Wholesale Markets Business Line, then the subsequent launch of our Volue Energy Market Services product line. As a market leader for software-backed services in the renewables sector, it provides portfolio management as a service to a growing market, including small to medium wind, solar and battery players. 

By way of context, we see substantial potential in the growth of batteries, wind and solar. The acquisition and increased focus on portfolio management as a service is a direct consequence of a strong belief in this segment, and I look forward to expected growth in this area over the next 18 to 24 months.  

In autumn, the introduction of our algo trading software in the continuous intraday market of OMIE not only consolidated our position in Iberia but provided a further platform for the region to meet its green ambitions. By strengthening our presence in energy trading across Spain and Portugal, while making ongoing expansions into Europe, we are solidifying our commitment to a greener future.  

Another significant highlight for me has been our successful entry into Japan. Volue established a Japanese office in early 2022, and we launched our initial offering in September that year. 

Since then, we have seen significant activity in the country over the last 12 months. Of course, Japan has - not surprisingly - adopted the Nordic market design, which is fantastic news for Volue, given our extensive experience in shaping the Nordic model. We have now grown from one customer at launch to 22 towards the end of this year, perfectly highlighting our Japanese success to date. All the opportunities are there for further growth, and we are ready to take them.