SolX Technologies Inc.
SolX provides clients with an Energy Management System (EMS), expert consultancy with accurate data collection as well as access to a reverse auction marketplace which allows contestable clients to choose their own energy suppliers. The EMS allows SolX access to client's live data which updates every 30 seconds.
Each client account will also have their historical energy data stored on the platform, allowing SolX to accurately provide the best energy solution to their clients. The startup has been building its network of energy suppliers and has adapted a reverse auction model marketplace. Said model allows suppliers to bid out their prices for clients to choose and determine the best value, promoting fair pricing, competition as well as democratizing the market.
The National Development Company (NDC), the investment arm of the Department of Trade and Industry (DTI), announced its first startup investment under the Startup Venture Fund (SVF), investing Php 11 million in SolX Technologies Inc., a digital energy solutions startup, and released in June 2024.
The investment marks a significant milestone in the government's ongoing efforts to support and scale high-potential Philippine startups. Through the SVF, the NDC aims to foster innovation and growth in key sectors, including energy technology, by backing ventures that drive efficiency, sustainability, and economic development.