InCommodities in a $16 million deal to add Goldman Sachs as investors in the company.

InCommodities, an Aarhus, Denmark-based technology based energy trading company, announced egtting into an investment agreement with Goldman Sachs.

The deal was made for DKK 100 million ($16 million) for a minority stake in the company.

InCommodities, founded in 2017 by Emil Gerhardt, Jeppe Højgaard, Christian Bach and CEO Jesper Johanson, is focused on automatization, quantitative analysis, AI, and how to combine those skills with deep insight into the energy markets. The company's energy trading platform automates the value chain of data analytics, decision making algorithms, execution and settlement. The trading activities focus on short term power and gas markets across the European continent and North America.