ElectronX, an energy exchange enabling precision risk management in U.S. electricity markets, announced the closing of a $30 million Series A led by DCVC, with participation from quantitative trading firms and energy-focused investors XTX Markets, Five Rings, NGP, GTS, and JACS Capital. Returning backers Innovation Endeavors, Systemiq Capital, Equinor Ventures, and Shell Ventures joined the round as well.
The Series A brings total capital raised to more than $55 million, supporting development and operation of the first U.S.-regulated, direct-access power derivatives market, expected to launch next month.
“ElectronX’s Series A captures the rising momentum from all industry angles for financial infrastructure innovations in U.S. power markets,” said Sam Tegel, CEO of ElectronX. “We are pleased to have DCVC lead this pivotal raise and welcome premier global trading firms XTX Markets, Five Rings and GTS to our investor ranks, alongside the energy venture experts at NGP and JACS Capital. As national demand for electricity continues to strain the grid, we look forward to providing the critically necessary intraday hedging tools for today’s volatile short-term power market very soon.”
“DCVC is excited to double down on ElectronX and lead their Series A round as they head into launch phase after earning CFTC approvals,” said Ali Tamaseb, a General Partner at DCVC. “ElectronX will fill a critical gap and play a much needed role in the electricity markets. It will directly support the electrification of the American industrial base and the transition to renewables, and it will help companies respond to the massive change in power requirements resulting from increasing data center demand. Like other DCVC portfolio companies in the energy space, ElectronX is working to fill a huge need with a novel deep tech solution.”
Headquartered in Chicago, ElectronX received both Designated Contract Market (DCM) and Designated Clearing Organization (DCO) status from the U.S. Commodity Futures Trading Commission in August. The regulated exchange and clearinghouse will introduce small-sized, fully collateralized, centrally cleared financial instruments tied to specific geographies and intraday time blocks through a direct-access platform.
Initial products include hourly bounded futures and binary options in 1 MWh sizes for the ERCOT market, enabling immediate intraday hedging for long- and short-volatility strategies. Day-of and day-ahead contract suites reflect existing physical power trading and battery asset risk management approaches, designed to manage losses and improve profit opportunities during periods of price stress.
Additional contract suites for PJM, CAISO, and other RTOs/ISOs are scheduled for rollout in 2026.