Renewabl funding news – London-based Renewabl Raises Multi-Million Seed Investment

This seed funding round also includes backing from Encevo Group, Toyota Ventures, Nesta, Enery, and reinvestment from PortfoLion and QVentures, alongside continuous support from South Pole.

Addressing urgent challenges in energy procurement

Their mission focuses on data-driven solutions to streamline energy procurement, reduce Scope 2 & 3 emissions, and mitigate greenwashing risks. Research shows optimising renewable integration can cut Scope 3 emissions by up to 20%, crucial for meeting carbon reduction goals (LBL, 2023; SBTi, 2021).

With it poised to surpass coal in electricity generation by 2025, advanced procurement strategies bolster investor confidence, aligning with ESG criteria integrated by 80% of asset managers (IEA, 2023; Ceres Investor Network).

Innovative technologies that they employ at it include distributed ledger traceability and hourly matching to enable demand-response strategies and integrate it into energy-intensive supply chains. This drives operational cost savings and enhances sustainability efforts (LBL; Value Chain Report by SBTi, 2023).

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It’s innovative platform empowers companies to gain deep insights into their emissions and Carbon-Free Energy (CFE) scores, enabling targeted mitigation strategies. Leveraging advanced technology, they can trace renewable energy to its source of generation and align it with consumption on an hourly basis. The platform utilises smart algorithms to optimise corporate portfolios, highlighting the most impactful clean energy products available.

The previous round of investment in 2023, backed by South Pole, PortfoLion, and Q Ventures, allowed them to deploy a state-of-the-art digital platform for time-stamped, location-based green energy certificates to ensure traceability to the source.

This new investment round enables them to leverage on distributed ledger, data analysis and AI-forecasting capabilities to drive the transition of the corporate world to renewables and the Net Zero targets. They are set to expand to strategic European countries such as Spain, Italy, France, and Germany, and accelerate the development of the two pivotal components of the platform:

Renewabl Track: An advanced SaaS tool for visualising and assessing consumption data and renewable energy portfolios. This climate management and accounting software focuses on energy, hourly CFE score, and Scope 2 and 3 emissions.

Renewabl Trade: A cutting-edge tendering platform and marketplace enabling companies to procure optimal and impactful renewable energy solutions directly from suppliers & power producers.

About Renewabl

Renewabl was founded in 2023 by Juan Pablo Cerda, with extensive experience at BP, Shell, and ED&F MAN, alongside Nick Martyniuk, formerly of WePower in Australia. The team's combined 80+ years of experience in clean energy, coupled with significant headcount growth over the past year, positions it to attract top talent and drive industry-leading advancements. This investment is a testament to their commitment to leading industry change and supporting corporations in their journey towards a greener future.