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500 companies now settle energy transactions on Aquilon's Energy Settlement Network®


LISLE, Ill., Feb. 8, 2018 /PRNewswire/ -- More than 500 companies ? ranging from electric utilities and multinational oil and gas companies to Fortune 500 financial institutions ? now settle energy transactions on Aquilon's Energy Settlement Network. ESN is an innovative, cloud-based platform that automates the energy settlement process. The network helps members increase security of sensitive information, improve financial performance, settle more transactions in less time, and reduce exposure to risk.

Over the past year, ESN membership increased more than 500 percent, and network transactions more than quadrupled. Since the network launched in 2015, members have settled more than 9 million physical and financial power and natural gas transactions totaling over $17 billion.

In 2017, Aquilon raised $19 million during a Series B financing round. This included investments from Invenergy, Citi, Goldman Sachs Principal Strategic Investments, and Macquarie Group. In addition to investing, all four companies have joined ESN, which was named the 2017 Innovation of the Year by Energy Risk magazine.

"We're pleased to see such a diverse set of industry players embrace ESN," said Jeffrey Wagner, founder and CEO of Aquilon Energy Services. "We built this platform in collaboration with leading energy organizations to help settlement departments around the world speed up tie-outs with counterparties and meet pressing payment deadlines. The explosive growth of the network reinforces ESN's position as the industry standard."

For more information about ESN's growth, view our infographic.

About Aquilon Energy Services Inc.
Aquilon Energy Services Inc. develops innovative software and service solutions for the energy industry. The Aquilon team combines deep industry insights with advanced technology to bring reliable, collaborative solutions to the energy market. The firm's Energy Settlement Network (ESNtm) enables energy participants of all sizes to manage, access and settle large volumes of power, oil and natural gas transactions with their counterparties. The company is based in Lisle, Illinois, and has an office in Houston. For more information, please visit www.aquiloninc.com. 

 

SOURCE Aquilon Energy Services Inc.


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