NOX Energy funding news – Belgian-American startup NOX Energy has Secured $1M in Funding

What Does NOX Energy Do?

NOX Energy addresses two major challenges:

• The high costs of electric heating systems compared to more polluting solutions, such as gas and oil heating.
• The need to stabilize the electricity grid as more electrical assets are installed to meet climate targets.

It's platform offers a solution by integrating smart devices, such as heat pumps, into the energy flexibility market. This allows manufacturers and users to generate new revenue streams while optimizing the electricity grid's efficiency.

Who Is Behind NOX Energy?

NOX Energy was founded by three young entrepreneurs:

• Axelle Moortgat (24), CEO, a computer science engineer (KU Leuven) from Mechelen.
• Martin Michaux (23), CTO, a data science & AI engineer (TU Delft) from Liège.
• Louis Clermont (22), COO, a graduate in business and finance (Bayes Business School) from Brussels.
  

The three founders met only nine months ago, shortly after or during their studies. Within two months, they were selected for the prestigious Entrepreneurs Roundtable Accelerator (ERA) program in New York, one of the most renowned incubators on the U.S. East Coast. During their time there, they secured their first investment from an American investor.

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Rapid Growth and Ambitious Plans

After returning to Europe, it has rapidly gained momentum. The team is focused on developing its software for heat pumps and is currently executing pilot projects with major manufacturers. These pilots target both residential and commercial applications, with the platform set to support thousands of devices across multiple countries in the future.

Funding Utilisation

With this new funding round, led by Volve Capital and supported by Seeder and several angel investors, NOX Energy is set to accelerate its growth, attract top talent, and scale its technology across markets.

About NOX Energy

NOX Energy was founded with a clear mission: to contribute to a more sustainable world by connecting energy-efficient devices to the energy market. Through NOX's technology, households and businesses can not only save on energy costs but also actively contribute to a more stable and greener electricity grid.