GridBeyond Raises €6M in Debt Funding
Summary
Led by Chief Operating Officer Richard O’Loughlin, GridBeyond provides technology that balances and orchestrates energy generation, storage and industrial load in a coordinated system. Starting with optimisation of existing assets and trading strategy, the company’s AI-powered Virtual Power Plant ensures assets are optimised in real time and in the right market to maximise cost savings and revenues. Sub-second monitoring ensures predictive maintenance, reduces downtime and operating expenditure, and allows for carbon reporting. GridBeyond delivers energy services, new revenues, enhanced savings, strengthened operations and sustainability to over 400 I&C sites worldwide. The latest round of funding brings the total capital raised to €16m, from existing investors Energias de Portugal (EDP), Electricity Supply Board (ESB), Total Carbon Neutrality Ventures and Act Venture Capital.
Funding
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