Companion.energy funding news – Energy software company Companion.energy, Secures €2.1 Million in Funding

Its technology, which is based on machine learning, forecasts a company's energy requirements and expenses for the upcoming hours and days by analysing its numerous energy contracts and integrating them with operational data.

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It helps industrial players become more sustainable while also delivering considerable cost reductions on their energy use.

Jonas Verstraeten, co-founder of Companion.energy: “Energy prices for most large consumers don't change just once a day but continuously. With our software, we help companies reduce energy costs during times of abundance, such as sunny periods or when there is a lot of wind. This is comparable to a household where the washing machine runs at night to benefit from a cheaper night rate.”

Cavalry Ventures and Übermorgen Ventures are the principal investors in Companion.energy. Imec.istart Future fund and Entourage, a Belgian organisation headed by Pieterjan Bouten, were also involved.

Alexander Langguth, Partner at Übermorgen Ventures: “Companion.energy has the innovative spirit needed to drive the climate transition forward. Their approach not only promises significant cost reductions for industrial players but also aligns perfectly with our mission as investors to support technologies that can substantially mitigate environmental impacts. As the industry transitions to more renewable energy use, we believe Companion.energy's software will play a crucial role in facilitating a smooth transition to renewable energy sources."

About Companion.energy

Thomas Vyncke and Jonas Verstraeten, two Belgian engineers with experience in energy, established Companion.energy in 2022. The organisation wants to help big energy-consuming businesses go faster towards Net Zero.

With the help of the company's software, each customer's operating context and contract mix are translated into an exact energy model, which produces optimisation signals for adaptable energy asset management. This benefits consumers by lowering energy expenses, stabilising price swings, and lowering emissions linked to energy use.