GridBeyond funding news – Dublin-based GridBeyond has Raised €11.25 Million in Funding

This funding is part of a total €12.5 million investment focused on expanding GridBeyond Storage, a joint venture dedicated to rolling out Behind-the-Meter (BTM) battery energy storage systems (BESS) in the UK and Ireland.

Currently two BESS projects are in development with a combined capacity of 8 MWh planned for Ireland and Scotland. These projects aim to improve energy resilience and support the use of more renewable energy on the grid.

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Michiel van Beek Head of Project Equity at Triodos Investment Management said: “We are very pleased to be extending our relationship with GridBeyond following a positive first two years working together. This next phase of our partnership is a highly promising development for our fund and our investors […] This collaboration keeps us at the forefront of sustainable energy investment.”

GridBeyond’s Deputy CEO, Richard O’Loughlin, added: “We are delighted to evolve our collaboration with our partners at the Triodos Energy Transition Europe Fund. This partnership has already allowed us to deliver innovative battery storage solutions for our industrial and commercial customers in Ireland and the UK. It’s great to have the opportunity to deliver further flexible energy across the UK and Ireland to support the energy transition journey to a net-zero future. As more renewables are integrated into the energy market, batteries are a great asset, which can provide our Industrial and Commercial customers with more resilience, mitigate risk of power interruption, support grid connection challenges and deliver ultimately deliver value for our customer also through cost savings and carbon reduction.”

GridBeyond is exploring new opportunities, including BTM solar photovoltaic (PV) and electric vehicle (EV) charging projects for commercial and industrial clients.

Since starting their partnership in 2022, they’ve set up GridBeyond Storage as a 50/50 joint venture, achieving important milestones in the energy sector.

Key achievements include a 1.1 MWh BESS project at Carey Glass in Ireland, operational since March 2023, and an 8.3 MWh BESS project at O-I Glass in Scotland, planned to launch in January 2025.

About GridBeyond

GridBeyond's goal is a global, zero-carbon future. Using AI, they work with customers to maximize value from energy generation, demand, and storage to support a carbon-free future.