LISLE, Ill., May 10, 2017 /PRNewswire/ -- Aquilon Energy Services' Energy Settlement Network™ was named the Innovation of the Year at the 2017 Energy Risk Awards Tuesday in Houston. As the first collaborative, cloud-based platform to automate wholesale energy settlements, the ESN™ enables buyers and sellers to easily identify exceptions and settle physical and financial energy transactions with their counterparties.
"This award from Energy Risk is a great recognition of our commitment to technological advancement and innovation," said Jeffrey Wagner, founder and CEO of Aquilon Energy Services. "By bringing automation to the settlement process, the ESN helps energy market participants increase operational efficiency, and improve risk management and compliance."
The Energy Risk Awards recognize excellence and innovation across global commodities markets. Award entries were judged by the editorial team for Energy Risk magazine, which covers risk management, trading, regulation and trading technology for the global energy and commodities markets. Aquilon will also be honored at the Energy Risk Europe Awards in London on June 28.
"This is an extremely hard-fought and competitive category, with a number of tools coming to market in the past year that have really changed the industry," said Michael McCaw, editor of Energy Risk. "But Aquilon's Energy Settlement Network stood out for the judges in its diverse product offering which has become crucial in how the firm's clients conduct their business."
Earlier this year, Aquilon announced that it raised $19 million during a Series B financing round. This included investments from Citi, Goldman Sachs Principal Strategic Investments, Invenergy and Macquarie Group. In addition to investing, all four companies committed to use the ESN.
"The Energy Settlement Network continues to grow as more companies grapple with rising trade volumes and recognize the efficiency gains and cost savings they can achieve by moving to our platform," Wagner said. "The ESN helps energy settlement professionals spend less time manually searching for discrepancies and more time on the most vital work that helps improve corporate cash flow management and profitability."
For more information about the Energy Settlement Network, visit www.aquiloninc.com or call 888-943-0340.
About Aquilon Energy Services Inc.
Aquilon Energy Services Inc. develops innovative software and service solutions for the energy industry. The Aquilon team combines deep industry insights with advanced technology to bring reliable, collaborative solutions to the energy market. The firm's Energy Settlement Network (ESN™) enables energy participants of all sizes to manage, access and settle large volumes of power, oil and natural gas transactions with their counterparties. The company is based in Lisle, Illinois, and has an office in Houston. For more information, please visit www.aquiloninc.com.
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SOURCE Aquilon Energy Services Inc.