October 10th, 2022 – Richmond, VA – Sparkstone Capital Advisors, LLC (“Sparkstone”) is pleased to announce the sale of a majority interest in the power trading platform Energy Renaissance LLC, an affiliate of Denver Energy Group, LLC (collectively, “DEG” or the “Company”) to Trafigura US Holdings, Inc., a subsidiary of Trafigura Group Pte. Ltd (collectively, “Trafigura”). Sparkstone served as the exclusive financial advisor for DEG in this transaction. The transaction value was not disclosed.
DEG is a technology-driven power trading business with a team of highly skilled trading personnel that utilize a suite of proprietary technology to focus on short term US power markets. Trafigura Group’s stake in the Energy Renaissance platform advances current trading capabilities with the addition of predictive technology, specialized custom applications, and refined proprietary processes to collect data, analyze information, identify trading strategies, and execute trades.
The new joint venture will accelerate Trafigura’s entry in North American ISO (independent system operator) markets and contribute to the growth of its power and renewables division, complementing existing trading capabilities in the US and European markets. The business is developing services that will help the electricity market as it shifts rapidly from reliance on fossil fuels to renewable energy sources such as wind and solar power. Trafigura’s expertise in risk and price management will help utilities and renewable power producers adapt to a new world of fluctuating supply.
Sparkstone is a financial advisory firm focused on mergers, acquisitions, and capital raising in the energy and industrial sectors. The firm was founded in 2018 by three partners with decades of collective energy M&A experience. Sparkstone’s goal is to provide independent and unbiased client service, execute transactions efficiently with senior-level bankers, and develop meaningful long-term relationships.
More information can be found at www.sparkstonecap.com.