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Gridcog Raises £3.3M to Transform Clean Energy

Gridcog's platform empowers companies venturing into clean energy, secured a significant £3.3 million in funding
March 5, 2024

In a pivotal move towards advancing clean energy initiatives, Gridcog, the cleantech software startup, proudly announces a successful funding round, raising £3.3 million. The company has gained recognition for its innovative clean energy simulation and tracking platform, providing companies investing in diverse clean energy projects, including solar, EV charging, and more, with a comprehensive solution tailored to their commercial and market requirements.

Before Gridcog's inception, navigating the complexities of clean energy investments was a cumbersome task, often relying on an assortment of specialized tools, spreadsheets, and costly consultants. Gridcog steps in to revolutionize this process, offering companies a holistic view of their energy resources, encompassing solar, wind, battery storage, EV fleets, and charging infrastructure across various sites and energy markets.

Gridcog's platform empowers users to assess existing solutions, simulate the impact of market and project changes, and, through live feeds of energy prices and market considerations, evaluate project viability in multiple commercial scenarios. The platform accelerates decision-making processes, ensuring firms can transparently and accurately model and test economically viable solutions for even the most intricate projects throughout the entire energy value chain.

Key industry players, including Shell, Mitie, and EY, have embraced Gridcog to manage multi-asset, multi-site projects spanning the UK, Europe, Australia, New Zealand, and Japan. Co-founder Pete Tickler emphasizes that Gridcog's unique techno-economic modeling is instrumental in addressing the common challenge faced by clients – identifying the optimal approach amid numerous project development possibilities.

Genna Boyle, Director of UK and Europe, highlights the often-underestimated complexity of energy projects, stating that Gridcog's simulation and optimization technology aids leaders in navigating this intricate landscape.
The funding, led by AlbionVC, positions Gridcog for an intensified expansion across the UK and Europe, following a year marked by a remarkable five-fold revenue growth in these regions. According to Adam Chirkowski, Investment Director at AlbionVC, Gridcog's technology is a game-changer essential for accelerating clean energy project investments, especially as traditional tools fall short in addressing the increasing technical and commercial complexities of energy project investment.

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