Gridcog, a startup making waves in the renewable energy sector, recently secured an impressive funding round of £3.3 million from AlbionVC, a London-based investment firm. Founded in Australia in 2020 and now based in London, Gridcog has developed a cutting-edge software platform designed to facilitate the modeling and simulation of renewable energy projects. This innovative tool assists clients like Shell, Origin Energy, and Mitie in pinpointing optimal locations for solar panels, energy storage facilities, and electric vehicles while aligning with both commercial and environmental objectives.
Genna Boyle, Gridcog’s UK and European lead, brings a wealth of experience from her time at Limejump, a prominent energy management platform later acquired by Shell. With Gridcog’s platform enabling developers to experiment, refine, and evaluate project blueprints, the startup aims to catalyze increased investments in the energy transition by providing stakeholders with essential data necessary for securing support from decision-makers and financiers. Notably, the International Energy Agency emphasizes the urgent need to double renewable energy capacity to achieve a net-zero energy sector by 2050, underscoring the significance of Gridcog’s mission.
The brainchild of Pete Tickler and Fabian Le Gay Brereton, who previously collaborated on the successful energy analytics startup Greensense, Gridcog addresses the challenges faced by companies grappling with the complexities of a decarbonized and decentralized energy grid. Tickler highlights the struggle of energy companies attempting to navigate this new landscape with outdated tools, emphasizing the importance of leveraging advanced technology to overcome such complexity. Gridcog’s platform factors in various variables such as market dynamics, energy tariffs, network losses, solar energy generation potential, and technical specifications of energy storage solutions to streamline energy planning processes.
Moreover, Gridcog boasts an impressive clientele, including industry giants like Shell, Origin Energy, Mitie, Mitsubishi Heavy Industries, and consultancy firm EY. The recent funding injection, classified by the company as a late seed round, brings Gridcog’s total raised capital to £5 million, signifying a strong vote of confidence in the startup’s vision and capabilities. Tickler envisions further expansion beyond current markets, recognizing the nuances among different energy markets while highlighting the commonalities in their fundamental components. By solidifying its presence in key markets, Gridcog aims to pave the way for seamless future growth and innovation in the renewable energy landscape.
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