Ringhel gets financing from InnoEnergy to grow business in the East European countries

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EIT InnoEnergy announced a financing partnership within Romanian Ringhel, in the Boostway program. As a growing business, the main objectives of Ringhel are to enter new markets and manage efficiently the supply chain. Ringhel is the leading energy software company in the Romanian market, with a market share of over 50%. Ringhel’s services and products are developed by a team with a significant background in the energy business.

InnoEnergy is an initiative of the European Institute of Innovation and Technology (EIT), funded under the Horizon 2020 program, which acts as an ecosystem for the development of sustainable solutions and new technologies. With over 460 partners throughout Europe, InnoEnergy has invested 500 million euros in more than 400 products so far, supporting more than 230 start-ups.

Lukasz Skarka, Investment Manager CEE at InnoEnergy talks about the “exceptional value for the potential customers of Ringhel”, which allows them to simplify their business processes and focus on doing what matters. “By leveraging the InnoEnergy network we can help them accelerate the rapid growth and drive the internationalization and increase sales. The experience Ringhel team brings is of utmost importance and for InnoEnergy it is one of the key assets and a crucial issue that led to the investment. With our investment, we truly believe that success lies ahead and together we can make it happen!”

Ringhel’s vision is to transform the way energy and gas companies react to market and regulatory changes, implementing solutions that allow utility providers to act and react quickly. Ringhel’s focus is to enhance technology at the highest level and to translate it in easy and innovative platforms/products to their clients, to help them grow and secure their business in a fast and trusted environment. Ringhel has a proven track record and their work and capabilities are focused in an area where the knowhow and technology can make the difference.

“We stand out due to our thorough understanding of the markets, which allow us to offer the right choices for our clients’ needs at all times”, said Mihai Dârzan, CEO of Ringhel. “As we developed our software for the various types of power & gas clients, we have been continuously striving to deliver faster, better, less costly software, in line with the increasing demand emerging from today’s business digitalization imperative. We realized that our services and products are also needed internationally, so we started focusing more on external markets. Our goal is to grow and generate business in the East European countries, especially through the partnership with InnoEnergy”.

Ringhel’s software is intended for the business of power & gas production, trading, (last resort) supply, balancing and distribution, helping companies manage business 360 degrees, from end to end, making business processes automatic and avoiding human intervention and error as much as possible.

The struggle to achieve digitalization by businesses in general, and the energy sector and utilities in particular, is also compounded by the speed at which technology is evolving, making digital transformation a perpetual exercise. Considering this, Ringhel builds a no-code software development platform to enable the company and future partners to more easily, rapidly and cost-effectively adjust, upgrade and expand existing software applications in line with the different and changing regulatory and customer requirements across the various energy markets worldwide.

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