The American hedge fund Citadel has entered into a binding agreement to acquire FlexPower in its entirety. This will enable the Hamburg-based startup to offer its range of electricity trading services to an even larger customer base on both the producer and consumer sides in the future.
FlexPower is already internationally successful
FlexPower was founded in 2022 and offers risk management solutions for the energy sector. The startup supports its customers in dealing with price volatility on the electricity market. It currently manages a portfolio of more than 1,700 megawatts in six European countries and trades over 11 terawatt hours annually on the short-term electricity markets. The transaction is expected to close in the fourth quarter of 2025. The company will retain its brand and will operate under the name “FlexPower (a Citadel company)”. The four managing directors, Max Amir Dieringer, Amani Joas, Jan Egidi, and Mirko Thoden, will remain on board for the time being.
Citadel has not disclosed details of the terms of the deal. The Florida-based investment company was founded in 1990 and has been active in global energy markets for over 20 years. The acquisition is part of the company's recent expansion into new markets, including the 2024 acquisition of Japanese electricity trader Energy Grid and the expansion of trading activities in Australia in 2025.
