Emerald portfolio company P97 acquired by PDI Technologies

Published April 2, 2025

Zurich, Switzerland – Cleantech venture capital pioneer Emerald Technology Ventures has announced that portfolio company P97 Networks has been acquired by PDI Technologies. P97 is a leading provider of mobile commerce and digital marketing solutions for the convenience retail, fuel, and automotive industries.

Founded in Houston in 2012, P97 Networks built a groundbreaking cloud-based platform that enables secure mobile payment, loyalty, and digital engagement solutions across the mobility ecosystem. The company became a trusted partner to major fuel brands, including Shell, ExxonMobil, and CITGO, and has led innovations spanning from mobile commerce to electric vehicle infrastructure and connected car experiences.

“We’ve worked to evolve how consumers interact with brands through an engaging, data-driven payment and loyalty platform we’ve created at P97,” said Donald Frieden, CEO and Founder, P97 Networks. “We’re only getting started. I look forward to our team joining PDI as we work to expand our connection to drivers, retailers, OEMs, and others across an even bigger, more connected transportation network.”

Emerald recognized the company’s potential to lead the digital transformation of mobility infrastructure from early on. Over the course of the partnership, Emerald supported P97’s expansion into new markets and strategic development of cutting-edge technologies for fleet, OEMs, and EV charging.

“P97 exemplifies the kind of visionary technology and entrepreneurial drive we look for at Emerald,” said Charles Vaslet, Senior Partner at Emerald. “We’re proud to have supported Donald Frieden and the entire P97 team on their journey. This acquisition is a testament to their leadership in redefining digital commerce across transportation.”

The acquisition by PDI Technologies represents a strategic milestone for P97, expanding its reach and accelerating its mission to connect consumers, retailers, and vehicles in an increasingly digital and data-driven landscape.

Emerald extends its congratulations to the P97 and PDI teams and looks forward to witnessing the next chapter in P97’s growth as part of PDI’s powerful ecosystem.

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm, founded in 2000, that manages and advises assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm invests in start-ups that tackle big challenges in climate change and sustainability, with four current funds, hundreds of venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups.

This is Emerald.

Bold Ideas. Bright Future. www.emerald.vc

CONTACT FOR EMERALD:

[email protected]

About P97 Networks

P97 Networks, LLC, based in Houston, was founded in 2012 with the commitment to re-imagining connected consumer experiences and making life’s daily journeys better for everyone. Convenience, speed and safety is our mission – and these are the expectations of buyers, sellers and anyone looking to make life easier during their daily commutes. P97 serves the world’s largest energy providers at the center of the transportation ecosystem – at the intersection which brings together drivers, information, connected vehicles, data, and business intelligence, to solve the most complex consumer engagement and customer loyalty challenges faced by retail brands and the markets they desire to serve.

As the leading provider of digital experiences across the transportation sector, P97 is developing customer loyalty programs coupled with the latest mobile payment technology and artificial intelligence to securely process millions of transactions each week. P97 is further recognized for its thought leadership by enabling digital transformation across more than 70,000 convenience retail and fuels marketing sites connected with secure mobile payments and geo-location services, which benefit millions of drivers each day.

About PDI Technologies

With 40 years of industry leadership, PDI Technologies, Inc. resides at the intersection of productivity and sales growth, delivering powerful solutions that serve as the backbone of the convenience retail and petroleum wholesale ecosystem. By “Connecting Convenience” across the globe, we empower businesses to increase productivity, make informed decisions, and engage faster with their customers. From large-scale ERP and logistics operations to loyalty programs and cybersecurity, we’re simplifying the industry supply chain for whatever comes next. Today, we serve over 200,000 locations worldwide with solutions like the Fuel Rewards® program and GasBuddy®, two popular brands representing more than 30 million users. Visit the PDI Technologies website

For more information, contact: [email protected]