GridBeyond, a Dublin, Ireland-based provider of intelligent energy technology solutions, raised €6M in Debt funding.
The round was led by Claret Capital.
The company intends to use the funds to support its expansion plans and bolster its team.
Led by Chief Operating Officer Richard O’Loughlin, GridBeyond provides technology that balances and orchestrates energy generation, storage and industrial load in a coordinated system. Starting with optimisation of existing assets and trading strategy, the company’s AI-powered Virtual Power Plant ensures assets are optimised in real time and in the right market to maximise cost savings and revenues. Using robotic trading, GridBeyond transforms energy trading strategy into opportunity and boost users’ bottom line. Sub-second monitoring ensures predictive maintenance, reduces downtime and operating expenditure, and allows for carbon reporting.
GridBeyond delivers energy services, new revenues, enhanced savings, strengthened operations and sustainability to over 400 I&C sites worldwide.
The latest round of funding brings the total capital raised to €16m, from existing investors Energias de Portugal (EDP), Electricity Supply Board (ESB), Total Carbon Neutrality Ventures and Act Venture Capital.
FinSMEs
10/10/2022