Veckta Joint Venture
VECTKA is a Joint Venture Between
XENDEE Inc. (XENDEE) and Worley Limited (ASX:WOR).
VECKTA will own and operate a cloud-based market platform for Microgrids and distributed energy systems.
The platform will link XENDEE’s core energy planning software with a global network of equipment, finance and project delivery providers supported by Worley.
The VECKTA joint venture builds on the Worley and XENDEE relationship established in 2018. The Worley and XENDEE respective shareholdings are 51% and 49%.
This joint venture demonstrates Worley and XENDEE’s commitment to helping our customers meet the world’s changing energy, chemicals, and resources needs, including developing solutions for the global energy transition.
“The vision for VECKTA came from the recognition that we need rapid, deep changes to the world’s energy systems. VECKTA meets these requirements by providing the world’s most advanced energy system engineering tools, delivering technical and financial optimization, integrated within a marketplace that connects those who need energy, with those who supply equipment, design, build and provide financing for those systems.”
– Tony Frencham, Worley Group Director and VECKTA Chairman
“XENDEE is building the finest analytical decision support platform for Microgrids. Our customers can accurately generate resilient and bankable solutions that deliver practical business value while increasing the overall sustainability of their operations. We are proud to launch this joint venture with Worley and enable our customers to thrive and capture the opportunities of the energy transition ahead.”
– Adib Nasle, XENDEE Founder/CEO
and VECKTA Vice-Chairman