SMPnet raises $1.4 million as it puts the power back in to grid operators hands
Summary
Currently with teams in Scotland and England, the real-time control software helps traditional power grids deal with untraditional methods, including renewable energy, change in flows and storage. SMPnet utilises these devices to modernise power grids with real-time control and adaptive optimisation.The brainchild of Greek researchers, Anastasios Rousis and Dimitris Tzelepis, raised $1.4 million in funding from Marathon Venture Capital and angel investors, including Ian Marchant. The founders expertise in the energy sector gives us confidence in the companys ability to succeed in the long-term, says Panos Papadopoulos, Partner at Marathon Venture Capital.Our cutting-edge technology revolutionises how power grids are managed across all voltage levels. We are utilising AI-based techniques to enable a net zero future in which power grids are operated dynamically and much closer to real-time while resolving stability issues and effectively ensuring high resilience and security of supply for a better planet. With this funding round from Marathon Venture Capital, were excited to double down and continue to realise our vision, says Anastasios Rousis, CEO and co-founder of SMPnet.