Open Access Energy (OAE), a South African software company specialising in optimising energy transactions, has secured R13,5 million in funding from US-based Factor E Ventures. This is the first tranche of a R27 million seed round aimed at advancing the company’s growth.

OAE offers a local multilateral wheeling software platform that automates the alignment of energy generation and consumption, enabling accurate wheeling transactions. Its Amptera and Energypro platforms facilitate real-time energy transactions and enhance energy management for independent power producers (IPPs) and municipalities. Amptera simplifies energy billing and revenue assurance with smart meter integration, automated billing and robust security. Energypro optimises private energy wheeling by refining generation data, managing private purchase agreements and automating transactions and billing.

The new investment will enable OAE to expand its operations, develop additional features and strengthen its position in the energy sector.

“South Africa’s dependence on coal-fired power has led to an unstable grid and high costs, limiting access to cleaner, renewable sources,” Factor E Ventures said in a statement. “OAE’s technology addresses this issue by connecting electricity from distributed renewable sources to areas with unmet demand, enhancing grid reliability, reducing emissions and creating new revenue streams for IPPs.”

“Factor E Ventures’ investment arrives at a crucial time for our company and South Africa’s energy sector. As we work towards decentralising energy and providing universal access to clean power, this support will accelerate our innovation and market reach,” said Gerjo Hoffman, CEO of Open Access Energy.