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Irish Renewables Fintech Exceeds Crowdfunding Target By Over 20%

Cork based Renewable Fintech company, Exceedence, chose to crowdfund through leading European platform, Crowdcube.com

Dr Ray Alcorn CEO said;

“As well as having the opportunity to work with our clients and supporters, we also wanted to connect to the wider crowd as we want ambassadors, realists and critics to support us on the journey. We intend to fully engage with our investors post the round to make best use of this.”

Today with less than 24 hours remaining on the campaign, they have surpassed their target by 20% and have 346 investors from 36 countries.

“We are amazed by the response we have gotten.” said Dr Alcorn “There really is an understanding and an appetite out there for what we are doing. We have exceeded our expectations at over 120% of the round with over £300,000 raised for 13% of the company. It is great to have this much global support and this will put us in a great position to execute our plans. Many of the investors are from the renewable or fintech sector and these multiple connections will be invaluable once we come to the roll out of our software”

Exceedence is set to revolutionise the way onshore and offshore wind, wave and wind projects and technologies get planned and financed. 

Financial modelling for renewable energy projects can be costly and, according to Exceedence CEO Ray Alcorn, no current solution gives all of the key players a proper ‘big picture’ view. That’s why his company has purpose-built software to provide a ‘helicopter view’ for these projects, helping to assess whether they will make or lose money, and to identify and manage risks effectively.

The software is the first of its type built around standards and suitable for wind energy (onshore, offshore and floating), wave energy and tidal energy. To date Exceedence have been involved in a number of offshore and marine renewable projects and are building a customer base in these areas.

Exceedence is now set to tap into this opportunity by presenting a new way to technically and financially model, analyse and optimise renewable projects and to connect developers to governments and investors through a cloud-based platform. The company aims to connect the supply chain without the overbearing need for document control and auditing of spreadsheets, much like SAGE or Quickbooks has done for the accounting world. The strength of Exceedence’s software is not only quickly understanding the basics but also being able to analyse, optimise and ask those all important what-if scenarios.

Currently in excess of $330bn is spent per year on renewable energy projects globally and, according to Exceedence, at least 4,000 companies around the world could make use of this software. 

Exceedence are crowdfunding to support the roll out of their new cloud based package, Exceedence Cloud which will bring the software to the market through a tiered subscription model making it accessible to even small technology developers.

For more on the waves Exceedence are making in renewables fintech, follow this link

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