Aquilon Energy Services, Inc., a Lisle, Ill.-based developer of a collaborative platform that enables buyers and sellers to automatically settle both physical and financial energy transactions, raised $19m in Series B financing.
The round includes investments from Citi, Goldman Sachs Principal Strategic Investments, Invenergy and Macquarie Group.
The company intends to use the funds to grow its Energy Settlement Network™ and enhance features and functionality for settlements with independent system operators (ISO) as well as transactions involving power, natural gas, crude oil, and refined products.
Led by Jeffrey Wagner, founder and CEO, Aquilon Energy Services provides a cloud-based software and service solutions for the energy industry. Its Energy Settlement Network (ESN™) 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 also has an office in Houston.