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 ones Philippine firms
simplify energy management, and drive 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.
To learn more about SolX, visit https://www.solx.ph/ or you may email them at ops@solx.ph.
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