Hamburg-based suena Secures €3 Million in Seed Funding. The Santander InnoEnergy Climate Fund and Energie 360’s Smart Energy Innovationsfonds co-led the round, while EIT InnoEnergy, one of the current shareholders, also took part.
Business Angels and Raakwark Kaptaal. Founded in 2021, Suena plans to utilise the funds to expand the market introduction of its cutting-edge AI-based “Autopilot” software solution throughout Europe, improve its functionality, and expand the team with world-class international expertise.
CEO Dr. Lennard Wilkening said, “suena was born out of a vision to be a catalyst for the energy transition, Energy storage capacity at scale and its efficient deployment is a crucial part of that. With the suena Autopilot, suena offers a 100% software-based and fully automated trading-as-a-service platform for energy storage and renewable energy asset owners, making crucially important storage capacity and renewable energy available when and where it’s needed the most.”
Handling a wide range of factors to optimise trading strategies and having techno-economic understanding of energy storage technologies to support solid business cases and investment choices are requirements for successfully navigating these markets.
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The Autopilot continuously maximises trading strategies, processes millions of data points per minute, and responds in real time to power grid variations in order to handle the enormous complexity of strategic and efficient power trading across numerous markets. Profits are increased and dangers decrease while using this trading technique.
Giovanni Bologna, from Santander InnoEnergy Climate Fund said, “The combination of innovative technology, an efficient expert team, and the attractive, fast-growing market for energy storage and renewables further convinced our investment decision. suena’s technology provides a much-needed solution to help asset owners and operators to run energy storages in a profitable manner. This way suena taps into the still unused potential of already existing flexibilities in the grid, to integrate renewable energies and fast track the energy transition now,”.
Santander InnoEnergy Climate Fund and Energie 360’s Smart Energy Innovationsfonds are dedicated to supporting Suena’s mission of innovating in the energy sector as lead investors in the seed round. Their investment, along with that of EIT InnoEnergy, Raakwark Kaptaal, and Business Angels, unites investors dedicated to innovation who have faith in Suena’s approach.
Metin Zerman, from Energie360, added: “Our investment in suena shows our confidence in a talented team of founders who are driving the energy transition with their innovative trading software. Their AI-powered solution is revolutionizing the use of energy storage and strengthening our energy grid, exemplifying the positive impact of technology in the energy sector.“
Miguel Wesselmann, CFO of suena said, “The seed funding marks a pivotal moment for suena, It’s a testament to the confidence our investors have in our vision and technology. This investment will bring us closer to our goal of revolutionizing the world of power trading to enable efficient energy storage operation. Working on this highly relevant topic, suena is in the middle of an exciting growth phase: the investment supports suena in expanding the team, bringing on board motivated and highly skilled talents who are passionate about driving the energy transition forward.”
Suena, we are specialists in AI-powered trading and optimisation for renewable energy and energy storage, revolutionising the way you manage your energy plant portfolio.
To trade across volatile electricity and balancing markets optimally, we utilise machine learning, algorithmic trading, and commercial asset optimisation.