TGS Makes First Renewable Energy Venture Investment, Acquires Equity Stake in NASH Renewables

TGS, a global provider of energy data and intelligence, announced its investment in NASH Renewables, a start-up developing innovative Software-as-a-Service (SaaS) solutions for the prospecting, construction and operations of wind energy projects. The equity stake in NASH Renewables is TGS’ first venture investment into a renewable energy start-up.

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NASH is a new artificial intelligence software company established in Germany in 2022 by three founders with long track records in developing digital solutions for the global wind energy industry. The company is led by former Siemens Gamesa Chief Digital Officer Daniel Luecht.

NASH is developing a novel concept by bringing the technology and electricity market ecosystems together. Combining various data feeds, from weather and energy markets to individual turbine fatigue loads, NASH will provide a radically new way of optimizing asset configuration and maximizing the energy value obtained, resulting in significantly higher investment returns in post-subsidy energy markets.

NASH’s AI software solutions will enable wind asset developers and investors to pivot their decision-making processes on optimizing output during periods of high energy demand rather than pursuing the highest possible annual production volume. The choices thus enabled unlock significantly higher value – not only for the market, grid and investors but also for decarbonizing our global energy supply.

Daniel Luecht, Founder & CEO at NASH Renewables, commented: “Renewable energy faces a massive growth challenge to successfully limit global warming. At the same time, renewable energy is transitioning into the post-subsidy era, instead of benefiting from fix-price remuneration schemes, the value of green energy will increasingly be determined by hourly or even quarter-hourly electricity market prices. Even better, hourly electric prices represent a powerful incentive to increase the decarbonization impact of new renewable energy asset deployments.”

TGS has acquired a 10% equity stake in NASH Renewables, with an option to increase to 20% subject to pre-defined business milestones. As a result, TGS is the sole external investor holding a substantial equity stake in the company. TGS and Nash Renewables will collaborate to mature joint SaaS solutions for wind energy projects.

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Jan Schoolmeesters, EVP of Digital Energy Solutions at TGS, said: “Our ambition is to become a global leader in data-driven solutions across the energy value chain. So, we need to explore disruptive technologies and business models and learn from the most innovative entrepreneurs. We now have a partnership with a highly experienced founders’ team developing SaaS solutions that could revolutionize how wind energy projects are planned, built and operated. We are very pleased to have made our first venture investment into NASH Renewables.”

Within its fast-growing New Energy Solutions business unit established in 2021, TGS has developed an insight platform, WindAXIOM, to help offshore wind energy developers and stakeholders evaluate the viability of potential projects by analyzing multiple resource and risk factors. Additional cross-platform functionalities can be developed with the support of NASH’s team. Further synergies can be gained by improving the predictive functions of the software platform. With its large quantities of modeled and observational data, TGS can help to enhance artificial intelligence algorithms for forecasting.

TGS recently developed and introduced additional data-driven solutions for offshore wind and fully acquired two industry-leading companies: 4C Offshore Ltd (offshore wind market intelligence) and Prediktor AS (real-time data management and asset management solutions for solar PV, wind and oil and gas projects).

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