EnergyTech Gridcog Snaps €3.8M To Track Energy Investment

London-based EnergTech Gridcog Snaps €3.8 Million To Track The Best Option To Invest In The Green Transition

EnergyTech Gridcog

UK’s EnergyTech Gridcog, a clean energy software company, has announced a €3.8 million investment led by an early-stage tech investor, AlbionVC. An investment that will be deployed to further Gridcog’s mission to accelerate the energy transition across the UK and Europe to make investments in this space more transparent, efficient, and commercially viable.

Founded in 2020 by repeat EnergyTech founders ‘Fabian Le Gay Brereton’ and ‘Pete Tickler’ to function as a key driver in the global move towards a decarbonized, and decentralized energy future.

It’s evident, that investing with certainty in the field of energy transition will require consideration of a large number of highly dynamic technical, physical, financial, and market considerations. Before this development, several firms looking to make these investments had no choice but to depend on an array of specialist tools, expensive consultants, and spreadsheets.

As noticed, most sophisticated of these approaches weren’t capable of handling the inherent complexity of today’s energy projects, which has led to slower, higher-risk investment decisions that were prone to error and obscured.

With the subject energytech, companies get a holistic view of their energy resources that includes wind, battery storage, solar, EV fleets, and charging infrastructure, coupled with flexible loads across multiple sites and multiple energy markets. Gridcog’s platform enables users to assess how existing solutions are performing; simulate the impact of market and project changes; and – thanks to live feeds of energy prices coupled with other market considerations – see how their projects stack up in multiple commercial scenarios. EnergyTech Gridcog offers firms a swift, transparent, and accurate model, and tests the most economically viable solutions for even the most complex projects across the entire energy value chain.

‘Pete Tickler’, Gridcog co-founder said: “The common thread between all our clients is a desire to invest into the energy transition. They want to play a role in building a more sustainable energy future, yet are facing hurdles at almost every turn. Exactly what assets they’re investing in vary – from large-scale solar and storage to EV fast-charging networks – but the problem is the same: with hundreds of ways a project could be developed, which one is best? Identifying the winning play requires sophisticated techno-economic modeling which only Gridcog provides, while also removing the complexity, costs, and confusion around these investments”.

The rapid growth of EnergTech Gridcog software across its initial markets and onboarding of some of the world’s leading energy and fleet electrification players such as Shell and Origin Energy has been traced to be its holistic, initiative and user-friendly platform.

Currently, Gridcog has a growing base of customers across the UK and Europe with Energy transition leader Genna Boyle heading up its UK and Europe operations. However, judging by the current size of these markets and their position at the forefront of the energy transition, it became clear that the company will double down on its expansion across these fast-growing regions. Over the past year alone, revenue from UK/Europe customers grew 6 times.

“The energy transition is a truly global revolution and Gridcog has always been committed to that global mission. Driven by climate change and renewed commitment to transition away from fossil fuels at the recent COP28 conference, the world is switching to solar, wind, and batteries for electricity generation, whilst transport, heat, and chemical processes are being electrified. This makes the energy transition the biggest and fastest infrastructure replacement project in history, and Gridcog is here to help achieve it”, co-founder and CEO ‘Fabian Le Gay Brereton, explained.

“Energy projects are much more complicated than many people realize, particularly when you have multiple technologies interacting with dynamic energy markets, and our simulation and optimization technology helps the leaders investing in the transition to navigate this complexity”, ‘Genna Boyle’, Director of UK and Europe added.

‘Adam Chirkowski’, Investment Director AibionVC, commented: “Gridcog’s technology is a game-changer, essential for accelerating investment into clean energy projects, especially when traditional tools fall short in addressing the increasing technical and commercial complexities of energy project investment. We are excited to support the Gridcog team as they look to build a category leader addressing the biggest challenge of our time”.

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