PRAGUE (22 December 2023) – Second Foundation, long established in algorithmic trading on energy markets, has signed an agreement on the acquisition of DES Holding, a flexibility aggregator and member of the Nano Energies group. The agreement was signed on behalf of Nano Energies by its owner Petr Zahradník. The transaction marks the next step in Second Foundation’s strategy to gradually shift from focusing purely on financial algorithmic trading towards reaping the benefits of energy flexibility and smart management in renewable and other sources of energy. Under the new owner, DES Holding will continue to use the Nano Energies brand with which its customers and partners are familiar.
“The acquisition of Nano Energies’ flexibility aggregator perfectly complements our previous strategic moves designed to ensure that we offer a comprehensive portfolio of services. It will also enable us to continue developing our services in step with the needs of flexible energy facilities,” said Vojtěch Kačena, a co-founder and majority shareholder of Second Foundation. “This acquisition of the company and the Nano Energies brand will mean a significant extension to the services already rendered by Second Foundation to owners of solar and wind farms and owners of battery arrays through our subsidiary in.power based in Germany. The synergies stemming from the combined skills and experience of both entities’ teams will allow owners of energy sources to maximise the monetisation of their respective potentials in energy generation and utilisation,” Vojtěch Kačena added.
“I took over Nano Energies with the goal of consolidating and restructuring the company in order to turn it into a major player in the modernisation of the Czech as well as the European energy markets. With this in mind, the joining of forces by our two companies, bearing in mind the potential synergies that will follow, was an obvious step. The Nano Energies capabilities in the area of aggregating flexible energy sources and providing supporting services will be considerably enhanced by Second Foundation’s competence in spot markets trading. I am delighted that we have reached an agreement,” said mathematician and entrepreneur Petr Zahradník, who entered the Nano Energies group as an investor three years ago and became its sole owner in the autumn of this year. Petr Zahradník is also active within Second Foundation where he is involved in algorithmic trading.
It is the customers who will benefit most from the transaction, regardless of whether they are Central and Eastern European customers of the Nano Energies flexibility aggregator or German customers of in.power. Looking at the respective offers of the two companies and how they complement one another, customers of either enterprise will reap the benefits of a comprehensive and modern service.
“I dare say that this transaction takes Second Foundation into the top echelons of the European energy sector, perhaps even to its very top. The transaction brings value to customers of Nano Energies which would otherwise take years to arrive,” added Petr Zahradník.
The transaction does not involve the Nano Green division, an energy supplier active in managing power generation and consumption in smart households. Nano Green will instead be acquired by current managers David Brožík, Jan Hicl and Lukáš Beneš, the owners of the S9Y software studio. The three managers have been at the helm of Nano Green for the past year and a half. They will acquire Petr Zahradník’s shareholding to become the sole owners of Nano Green. The transaction is expected to be completed before the end of 2023. “In early 2024, we plan to launch a new service for our customers. It will enable fully automatic management of electricity generation and consumption. By offering the service, we will open the door for owners of smart homes and small businesses to participate in balancing the grid. In other words, they will be able to earn money by shifting their power production and consumption across time segments,” said Jan Hicl, Chief Product Officer at Nano Green, unveiling the company’s plans.
The acquisition by Second Foundation is already the second such transaction involving subsidiaries of the Nano Energies group. Second Foundation acquired Nano Energies Trade in early 2022.
The transaction is still to be approved by the Czech Office for the Protection of Competition (ÚOHS). It is expected that the transaction will be closed in the first quarter of 2024.
Technology group Second Foundation, founded in the Czech Republic in 2020, quickly became an established spot markets innovator. With the brightest mathematicians, analysts and developers on board, the group is among the European leaders in renewable sources management and algorithmic trading. Today, the group operates globally, with fully owned subsidiaries in Switzerland, Germany, the USA and Japan. Second Foundation was founded by Vojtěch Kačena, Jaromír Šatánek and Petr Poštulka.
Founded in 2008, Nano Energies is a Czech group of companies operating in the energy sector. Through its subsidiaries DES Holding and Nano Green, the group enables businesses and households to manage their electricity needs with increased efficiency and responsibility. The group continues to build virtual power plants in the Czech Republic, Croatia and Romania, with additional countries in the pipeline for an expansion of this activity. Virtual power plants help to stabilise countries’ power grids and promote the development of renewable sources of energy. Nano Energies was founded by Petr Rokůsek. In October 2023, Petr Zahradník became the sole owner of the group.