NOX Energy Raises €3Mn to Build Europe’s Energy Flexibility Platform

The company develops technology that helps homes and businesses manage flexible energy sources such as heat pumps, batteries, and electric vehicles more efficiently.

NOX Energy will use the new funding to improve its technology, enter more European markets, and grow its team.

The company wants to make energy flexibility easier to use as solar and wind power become a bigger part of the energy system.

“Every time money moves between two banks, it runs over SWIFT. We want to be that for energy flexibility. Millions of homes already have a heat pump, battery or solar panels connected to their manufacturer’s app. Energy suppliers and grid operators need the flexibility these devices can offer, but every manufacturer and every market works differently. NOX sits in between as the infrastructure of flex, connecting both sides. Our goal is for every kilowatt-hour of flexibility in Europe to run through NOX,” said Moortgat.

NOX Energy was founded by Axelle Moortgat, Martin Michaux, and Louis Clermont.

The company connects energy devices with electricity markets. This allows devices to change their energy use when the power grid needs more flexibility.

NOX Energy uses AI and machine learning to predict energy demand and manage connected devices at the right time.

The startup helps energy suppliers handle changing electricity demand while giving homes and businesses ways to benefit from flexible energy use. It has also received earlier funding from Volve Capital, Seeder Fund, and angel investors and has worked on pilot projects with energy and heating technology companies.

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