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HomeFunding London-based Gridcog Secures €3.8 Million in Funding

[Funding alert] London-based Gridcog Secures €3.8 Million in Funding

London-based Gridcog secures €3.8 million in funding. Early-stage startup investor AlbionVC led the round. With the help of this money, Gridcog hopes to make renewable energy investments more transparent, efficient, and economically feasible, therefore hastening the energy transition throughout the UK and Europe.

London-based Gridcog secures €3.8 million in funding. Early-stage startup investor AlbionVC led the round. With the help of this money, Gridcog hopes to make renewable energy investments more transparent, efficient, and economically feasible, therefore hastening the energy transition throughout the UK and Europe.

A plethora of extremely dynamic technical, physical, financial, and market factors must be taken into account in order to invest in the energy transition with confidence. Businesses considering these expenditures had no choice but to rely on a variety of specialized tools, spreadsheets, and pricey consultants prior to the creation of Gridcog.

Even the most advanced of these methods were unable to handle the intrinsic complexity of today’s energy projects, which resulted in opaque, prone to error, slower, and higher risk investment decisions.

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Businesses can see their energy resources holistically across various sites and energy markets using Gridcog, including solar, wind, battery storage, electric vehicle fleets and charging infrastructure, and flexible loads.

With the use of live feeds of energy prices and other market factors, Gridcog’s platform enables customers to evaluate the performance of current solutions, model the effects of project and market changes, and see how their projects compare in various commercial situations.

Across the whole energy value chain, Gridcog assists businesses in modeling and testing the most commercially feasible solutions for even the most complicated projects in a timely, transparent, and accurate manner.

Pete Tickler, Co-founder, Gridcog 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,”.

Gridcog co-founder and CEO, Fabian Le Gay Brereton said ,“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,”.

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

Adam Chirkowski, Investment Director AlbionVC, 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.”

About Gridcog

EnergyTech veterans Pete Tickler and Fabian Le Gay Brereton created Gridcog in 2020 with the goal of spearheading the global transition to a decarbonized and decentralized energy future. Ready or not, a new energy future is on the horizon. To help you organize, monitor, and maximize the shift to a decentralized and low-carbon energy future, it offers comprehensive tools.

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