Simtel Team invests in a Virtual Power Plant platform that optimizes energy consumption and production
Simtel Team (BVB: SMTL), Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and a national leader in the field of renewable energy, announces an investment in the start-up Custom Soft Solutions (CSS) together with ANT Power, a company in which Simtel holds 51% of the shares. CSS is developing a Virtual Power Plant (VPP) platform for monitoring and controlling energy consumption and production systems. Following the investment, Simtel owns 29% of the start-up and ANT Power 20%, while the founders Ionuț-Ovidiu Dincă, Adrian-Gabriel Vintilă, and Constantin-Corvin Ochian own the remaining 51%.
“Our work is more than just the operationalization of renewable energy sources. Since we started this division, our long-term goal has been to provide our customers with an integrated package of energy-efficiency services. With this investment, we are completing that package with the last piece we need, measuring and monitoring energy consumption and production. As a result, Simtel can now manage a customer’s entire energy ecosystem – we build and install PV power plants, to which we add we build and install photovoltaic power plants, to which we add specific related services. Thus, after commissioning, we provide maintenance, forecasting, and trading of energy production, through ANT Power and remote monitoring, optimization, and control of energy consumption, through CSS. With this model, we offer customers a complete solution. This ecosystem transforms the traditional energy management model into an intelligent system that optimizes consumption and production, bringing significant financial benefits to customers and supporting them in long-term energy independence process,” stated Iulian Nedea, co-founder and CEO of Simtel Team.
Within the platform developed by CSS, together with Simtel and ANT Power, clients have access to multiple real-time data on their energy activity, such as detailed reports, historical data, alerts, and the ability to remotely control production and consumption systems using artificial intelligence functions.
In addition to its investment in this start-up, Simtel holds a majority stake of 51% in two other companies. The first is ANT Power, a company that provides forecasting services for photovoltaic power plants through an internally developed software platform, which is one of the best performing in the market, with a prediction rate of the energy produced on the following day very close to the actual one. The second company is Agora Robotics, the only Romanian autonomous robot R&D and manufacturing company that develops an ecosystem of complementary modular solutions for automating logistics and facility management processes. By the end of this year, Agora Robotics will launch an autonomous industrial cleaning robot.
In 2022, Simtel Team registered, at an individual level, a turnover of RON 137 million for 2022, a 134% increase compared to 2021, and a net profit of RON 12 million, a 96% appreciation compared to 2021. The green energy division had the largest contribution to the turnover, 77%. Telecommunications accounted for 21%, while other business lines contributed 2%. Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange as of July 1, 2021. Currently, the company has a market capitalization of RON 217 million.
About Simtel Team
Simtel Team is a Romanian company founded in 2010 by three Romanian entrepreneurs – Iulian Nedea, Sergiu Bazarciuc, and Radu Vilau. The company is listed on the AeRO market of the Bucharest Stock Exchange under the stock symbol SMTL and operates in 3 fields of activity – integrator in the telecommunications field, renewable energy, and industrial automation. Simtel specializes in providing integration services to mobile telecommunication operators, building and maintaining photovoltaic plants, and industrial process automation. The company has successfully delivered projects in each field to clients in Romania and abroad. As of October 2021, the company is included in the BET- AeRO index of BVB.