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Enron Mail |
USA: Dynegy trades $1.5 bln via online energy portal.
HOUSTON, Dec 11 (Reuters) - Wholesale natural gas and electricity marketer Dynegy Inc. said on Monday its Dynegydirect Internet trading system had chalked up $1.5 billion in notional transaction values since its launch on Nov. 1. Dynegydirect (www.dynegydirect.com) currently carries Dynegy's bid and offer prices for over 300 energy and energy-related products, including North American electricity, natural gas and natural gas liquids. Coal, emission allowances and weather derivatives will be offered in the first quarter of 2001, with international energy products and telecommunications bandwidth following in the second quarter, Houston-based Dynegy said in a statement. Dynegydirect currently has over 400 registered users and Dynegy said that over $1 billion of the deals done to date over the system were generated by new customers for the company. In addition to its own portal, Dynegy has been trading on the Tradespark (www.trade-spark.com) multilateral online energy trading platform launched in September. Tradespark is backed by a partnership of several energy companies, including Williams Cos., TXU Corp. and privately owned Koch Industries. Dynegy has said it will join the partnership at a later date. Dynegy's home-town rival Enron Corp. is regarded as the frontrunner in online trading of wholesale energy products, with deals worth $183 billion transacted over its EnronOnline (www.enrononline.com) system between November 1999 and October 2000. Enron executives have said they also plan to use other online trading platforms to do business and will not focus exclusively on the company's own platform. _________________________________________________________ o Trading Tech Firm Javelin Acquires Gateway Financial NEW YORK -- Javelin Technologies, an electronic trading technology provider, said it acquired the remaining shares of Gateway Financial Technologies (GFT), a developer of electronic trading infrastructure, for an undisclosed amount. Prior to the acquisition, GFT was jointly owned by Javelin and AW Bertsch, a New York Stock Exchange (NYSE) member firm. GFT president and CEO John Petschauer will become senior vice president and general manager of Javelin's service bureau division. Javelin's investors include Opticality Ventures I, Advent Software, Robertson Stephens, Tradescape.Com Holdings, Thomson Financial, Collaborative Capital, Nextera Investments, Schoffstall Ventures, BHH Technology Ventures, Investec Ernst, and individual investor Jack White, founder of Jack White Discount Brokerage. http://www.javtech.com/ _____________________________________________________________- o FreightPro.com Secures $17 Million in Second Round OVERLAND PARK, Kan. -- FreightPro.com, an Internet-based transportation and logistic provider, said it has raised $7 million in its second round of funding from new investors White Pines Ventures, Gazelle TechVentures, and Kansas Venture Capital. The company said it will use the funds to support information technology development, marketing, and brand-recognition efforts, as well as for general working capital. http://www.freightpro.com/ _____________________________________________ o Scient Founder Steps Down As 12 Entrepreneuring Co-Chief SAN FRANCISCO -- Internet accelerator 12 Entrepreneuring said company co-president, CEO, and chairman Eric Greenberg has left those positions and will now take another role with the company, as yet to be determined. Halsey Minor, who shared the positions with Mr. Greenberg, has become the sole president, CEO, and chairman. Mr. Minor, founder of Web publisher CNET, and Eric Greenberg, founder of Scient, founded 12 Entrepreneuring earlier this year. http://www.12.com/ _____________________________________________ o Consulting Firm eVe Global Gets Funds in Deal with IncuLab NEW YORK -- eVe Global Group, a consulting firm specializing in early stage company development, said it closed its seed round of financing with an undisclosed amount from incubator IncuLab. The companies also formed a partnership. eVe Global Group provides business planning services to early stage companies and investors, including venture capitalists, incubators, and individual investors. As part of the partnership, eVe will provide services to several of IncuLab's portfolio companies. http://www.eveglobal.com/ _____________________________________________ o Design Platform Firm Enamics Gets $2.3 Million in Round One STAMFORD, Conn. -- Enamics, which will provide an enterprise design platform for creating business models, said it closed its first round with $2.3 million from individual investors. The investors were Tom Trainer, vice president and CIO at Citigroup and vice chairman of Enamics; Honorio Padron, president, business services, at Exelon; Jack Mollen, senior vice president at EMC; Paul Daversa, president and CEO of Resource Systems Group; and Edward Bennett, partner at Evans, Carter, Kunes, Bennett. The company will use the funds for its launch, expected in first quarter of 2001. The company has raised $4 million to date and is also backed by META Group. http://www.enamics.com/ _____________________________________________ o Transaction Services Firm i-Escrow Gets $20 Million REDWOOD SHORES, Calif. -- i-Escrow, a provider of transaction settlement services for online marketplaces, said it received $20 million in its second round of funding led by Bertelsmann AG. Previous investors SB Investment, a venture capital subsidiary of Sumitomo Bank Group; Trans Cosmos, Infinity Capital, U.S. Venture Partners, AIG Financial Products, and Red Rock Ventures participated in the round, as did new investors Silicon Valley Bank, PacRim Venture Partners and JAFCO Ventures. i-Escrow said it will use the capital to support its international operations and to fund ongoing initiatives. Matthias Mierisch, managing director of Bertelsmann Financial Services, has joined i-Escrow's board of directors. http://www.iescrow.com/ _____________________________________________ o ASP for Financial Firms Adhesion Has $15 Million in Series C CHARLOTTE, N.C. -- Adhesion Technologies, an application service provider that develops and maintains private-label Web portals for financial institutions, said it raised $15 million in its Series C round of funding. Zilkha Capital Partners led the round, which also included Century Capital Management. Zilkha partners John Rigas and Daniel Standen, and Davis Fulkerson, managing director at Century Capital, joined the board of directors. The company will use the funds for product development, sales and marketing, and to expand its staff. The company said it plans to open offices in New York, San Francisco, and London. http://www.adhesiontech.com/ _____________________________________________ o E-Commerce Apps Firm Moai Cancels IPO SAN FRANCISCO -- Moai Technologies, a provider of negotiated electronic commerce applications for online auctions, online procurement and electronic marketplaces, has decided not to proceed with its initial public offering, according to documents filed with the SEC. Moai, which is backed by Andersen Consulting, BroadVision, Hewlett-Packard, Intel, Merrill Lynch, Reuters and UPS, cited current market conditions as the reason for its decision. http://www.moai.com/ _____________________________________________ o Internet Services Firm Headstrong Buys Faber Consulting FAIRFAX, Va. -- Headstrong, a provider of Internet services, said it acquired Chicago-based Faber Consulting, a management consulting firm. Terms of the acquisition were not disclosed. Previously, Headstrong received a $191 million private placement from Welsh, Carson, Anderson & Stowe (WCAS) and H&Q Asia Pacific. Faber Consulting has offices in Chicago, LA and Dallas. The average size of the firm's projects is around $700 million. http://www.headstrong.com/ http://www.faberconsulting.com/ _____________________________________________
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