Gentrack Group has acquired Wellington-based energy technology start-up Factor in a deal valued at NZ$24 million, with a further potential earnout of NZ$10 million. The acquisition gives Gentrack ownership of Factor’s AI-powered pricing and forecasting software, which is designed for energy retailers operating in increasingly complex electricity markets. Announced on 18 May 2026, the transaction is expected to accelerate Factor’s international reach while strengthening Gentrack’s product capabilities for utility customers.
Strategic Expansion for Energy Retail Software
Factor, legally known as Prospero Energy Ltd, was founded by energy technology entrepreneurs Jessica Venning-Bryan and Simon Pohlen. The pair previously worked with Flick Electric Co. and Flux Federation, bringing experience in retail energy platforms and market innovation to the new venture. Their software helps retailers design and manage sophisticated pricing arrangements for large electricity users, including commercial, industrial, and agricultural customers.
Gentrack, listed on the New Zealand and Australian stock exchanges, said Factor’s technology aligns closely with the needs of modern energy retailers. Chief Executive Gary Miles described pricing as a critical capability in volatile markets and said the company saw strong value in Factor’s product and team. Gentrack plans to introduce Factor to its customer base quickly, positioning the acquisition as both a technology enhancement and a commercial growth opportunity.
Factor’s Role in Modern Energy Markets
Factor’s platform provides on-demand forecasting and pricing tools that replace manual spreadsheets, legacy systems, and bespoke code. Its API-first software can integrate with customer relationship management platforms, billing systems, and data infrastructure already used by utilities. The system is built to support bespoke tariffs that account for technologies such as batteries, electric vehicles, micro-generation, and flexible demand.
Jessica Venning-Bryan said energy utilities are under growing pressure to respond to rapid changes in electricity consumption and generation. She pointed to the expansion of distributed generation, storage, rising demand, and constrained transmission networks as forces creating greater volatility across developed energy markets. Factor was launched commercially in June 2025 and quickly secured early customers in Australia and the United Kingdom.
A Market Shaped by Complexity
The acquisition comes as decarbonisation, decentralisation, and digitisation reshape how electricity is generated, distributed, priced, and consumed. Large businesses account for around 70 percent of global electricity use, with nearly US$1 trillion transacted annually across commercial, industrial, and agricultural energy markets. Retailers serving these customers face pricing and forecasting demands that traditional industry systems were not designed to handle.
For energy retailers, accurate forecasting and flexible pricing are becoming closely tied to financial performance and customer retention. New tariffs are increasingly expected to encourage electrification, demand response, and more efficient use of grid infrastructure. Factor’s technology aims to give retailers the tools to create these incentives while managing risk in fast-changing wholesale and network conditions.
From Pre-Seed Funding to Exit
Factor’s sale follows an oversubscribed NZ$3.22 million pre-seed equity round completed in March 2025. The raise was led by Icehouse Ventures and backed by Motion Capital, K1W1, and Angel HQ. According to the company, Factor remained predominantly New Zealand-owned at the time of exit.
The speed of the acquisition highlights rising investor and industry interest in software that addresses energy market complexity. Utilities and retailers are increasingly investing in digital capability to support faster decisions, new product development, and more responsive customer offerings. For Gentrack, acquiring Factor adds a specialised pricing and forecasting engine at a time when these functions are becoming central to energy retail strategy.
Gentrack’s acquisition of Factor signals growing demand for advanced software that can help energy retailers compete in more volatile and decentralised electricity markets. Factor brings a specialised AI-enabled platform, early international traction, and a team with deep sector experience. The deal positions Gentrack to offer more sophisticated pricing and forecasting capabilities while giving Factor the scale to reach a wider global customer base.