FOR RELEASE: November 2, 2019
VECKTA to revolutionize microgrids and distributed energy systems
Worley and XENDEE Inc. (XENDEE) have built on the relationship they established in 2018 to form VECKTA Inc. (VECKTA), a joint venture which will revolutionize the way microgrids and distributed energy systems are assessed, designed and deployed.
San Diego, CA: VECKTA will own and operate a cloud-based market platform that links the core energy configuration software of XENDEE with an ecosystem of equipment, finance and project delivery services and with the global reach of Worley.
Gareth Evans, CEO of VECKTA said, “Until now, assessing, designing and coordinating the various stakeholders within the distributed energy space has been complex, time consuming and expensive. VECKTA will overcome these challenges and empower the industry to co-create distributed, lower carbon energy solutions that are reliable, compatible, safer and cheaper. Uniquely, VECKTA users will have the ability to technically and financially assess and design solutions and then test drive them, producing dispatch profiles and assessing user specific scenarios. Further, VECKTA allows each party to use the platform concurrently, in a coordinated way, helping to reduce risk and increase value for the industry.”
XENDEE Founder and Vice Chairman of the VECKTA Board, Adib Naslé said, “XENDEE is building the industry leading decision platform for the energy transition. Our customers can accurately generate bankable solutions that deliver practical value, while making their operations more sustainable and resilient. This joint venture with Worley will enable VECKTA customers to thrive and capture the opportunities of the energy transition ahead.”
Worley Group Director, Energy Transition and Chairman of the VECKTA Board, Tony Frencham said, “The vision for VECKTA came from the recognition that we need rapid, deep changes to the world’s energy systems. VECKTA meets these requirements by providing the world’s most advanced energy system engineering tools, delivering technical and financial optimization, integrated within a marketplace that connects those who need energy, with those who supply equipment, design, build and provide financing for those systems.”
For more information visit the VECKTA website (www.veckta.com).
About VECKTA: VECKTA is the Energy Transition Market Platform. VECKTA integrates the world’s most advanced energy system engineering tools with an end-to-end marketplace to bring together all the stakeholders to assess, design, supply, build, and finance microgrids and other Distributed Energy Systems (DES). VECKTA empowers businesses and communities to quickly and easily baseline their energy situation today, customize a solution specific to their needs (cost, reliability and/or emissions) and then seamlessly engage and contract the best equipment, services, and capital providers in the market to finance, deploy and operate it sustainably and profitably.
About Worley: Worley delivers projects, provides expertise in engineering, procurement and construction and offers a wide range of consulting and advisory services. Worley covers the full lifecycle, from creating new assets to sustaining and enhancing operating assets, in the hydrocarbons, mining, mineral, metals, chemicals, power and infrastructure sectors. Worley resources and energy are focused on responding to and meeting the needs of our customers over the long term and thereby creating value for our shareholders. Worley Limited is listed on the Australian Securities Exchange (ASX: WOR).
About XENDEE: XENDEE develops software that helps planners and investors validate the technical and financial performance of microgrids with confidence. The XENDEE platform enables a broad audience, from business decision makers to scientists working on cutting-edge research. XENDEE’s objective is to support major investments in microgrids, smart grids, large-scale penetration of renewable and alternative energy technologies and the need to maintain electric power reliability when integrating sources of renewable generation.
Download the Press Release here.