Powernaut funding news – Ghent-based Powernaut has Raised €2.4Million in Funding

Florentijn Degroote, CEO and co-founder, says, “In line with our mission, we are expanding our current partner base in the Netherlands with more energy management systems and asset manufacturers as we speak. Because we believe that energy suppliers are in the best position to allow scalable remuneration to the end customer, we are improving our understanding of their needs and how our platform could help them, too,”.

The energy industry is facing big challenges in moving away from fossil fuels. These include unstable grids due to more renewable energy, poor coordination of decentralized energy sources, and not enough incentives for users to help support the grid.

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Business Model and Revenue

Since it started, the company has worked with industry leaders to manage over 200MW of decentralized energy assets, such as solar panels, batteries, and electric vehicles. This is about the same as 80 wind turbines, or enough to power 40,000 homes.

Powernaut makes money by charging energy suppliers a fee to use its platform, where they can integrate and manage energy assets.

Revent is an early-stage investment fund that helps founders solve critical global health and environmental problems.

Henrik Grosse Hokamp, partner at Revent said, "This investment comes at a perfect time, Powernaut is providing the technology needed to support decarbonisation, renewable energy rollout, and decentralisation, ultimately phasing out polluting power sources like gas plants.”

Seedcamp, based in London, is a seed fund that invests early in founders who are tackling global challenges using technology. Pitchdrive, located in Antwerp, invests in early-stage startups across Europe and provides personalized support to help them grow. It has invested in over 50 startups through two funds and is now starting its third fund.

Syndicate One, based in Brussels, is an angel investment group that supports promising technology startups in Belgium. The group combines the expertise, networks, and seed capital of its founders to help these startups grow.

Serge Morel, co-founder and CTO of Powernaut, adds, “Our new decentralised system has the potential to save consumers and businesses across Europe more than €300B annually while cutting millions of tons of CO₂ emissions each year.”

About Powernaut

Powernaut, founded by Florentijn Degroote and Serge Morel, seeks to change the energy industry by creating software to manage decentralized energy systems. The company focuses on software, AI, and energy engineering to help energy suppliers improve efficiency by connecting and managing flexible devices in their networks.