In a bid to help Filipino businesses overcome their energy challenges, SolX – the country’s leading end-to-end digital energy solutions platform –formally announced its most recent investments by Foxmont Capital Partners and Leave-a-NestI Investment today during a press conference held in Makati City.
Joining the media event were its founders, Sergius Santos, Matt Tan, and Bradley Cua, who introduced SolX as an energy solutions platform that aims to assist not just the top Philippine firms simplify energy management, and driving cost reduction in their energy consumption.
“The Philippine energy landscape continues to evolve to address the growing need of a wide range of industries, fuelled by the Philippines’ growing economy and innovation. Our job at SolX is to ensure that we help businesses throughout the energy procurement process – from analyzing their energy needs to finding the right energy supplier to work with, to monitoring and evaluating their efficiency,” said Sergius Santos, CEO of SolX.
Outsourcing your power headaches
The power sector is complex, involves multiple industry and regulatory bodies, and is highly technical. SolX provides its clients with an easy-to-understand demand and supply system to find the right energy supplier. Moreover, SolX has a real-time energy monitoring system that generates data and analytics on their clients’ energy consumption to assist them in making cost-effective decisions.
“Central to SolX’s approach is accessibility, compliance, and convenience, as we help our clients manage and reduce their energy needs. We directly link them up to suppliers, ensure they are compliant with local laws, and enable contract optimization that fits their energy requirements,” said Matt Tan, COO of SolX.
SolX removes the inconvenience of finding a suitable energy supplier for SMEs and large-scale businesses alike. The platform also creates a fair and competitive system for energy suppliers while enabling efficient supplier-buyer matching, ushering in the provisions of the Retail Competition and Open Access (RCOA) and the Green Energy Option Program (GEOP) in different industries.
Under the provisions of RCOA, companies are allowed to make a choice on their energy supplier. This aims to provide quality, reliable, secure, and affordable electric power services, as well as to develop a competitive market for electricity. The implementation of RCOA and GEOP give businesses the power to make informed choices, and SolX enables businesses and RES through its platform to easily do so.
Impressive traction and investor interest
SolX’s platform helps its clients connect with the best-fit RES or a group of RES. To date, the company has helped facilitate over 100 bids for over 50 clients.
On the client side, SolX’s reliable technology is trusted by key brands in the country and some of its clients include Converge ICT, Bounty Farms and Bounty Fresh, Pryce Gas, Splash Corporation, Asian Coatings (Rain or Shine), Digital Edge Philippines, Steel Corporation of the Philippines, and Bestpak Packaging, among others.
SolX is supported by New Energy Nexus, a clean energy accelerator, and backed by Philippine venture capital firm Foxmont Capital Partners and Japanese institutional investor, Leave a Nest Capital.
“The cost of power in the Philippines is a well-known issue for sectors including manufacturing. SolX can support its clients not just in reducing these costs, but also in removing the complexity for business owners and management in managing power needs most efficiently. We look forward to working with Sergius, Matt and Bradley and giving more businesses access to cheaper and better power,” said Bea Mantecon of Foxmont Capital Partners.