Belgium’s Companion.energy raises €2.1M to help industries cut energy costs and emissions
Summary
Thus, Companion.energy has all the potential to become an international player.” Companion.energy addresses the challenges faced by industrial companies dealing with energy price fluctuations due to the rise of renewables and shifting to electric alternatives. By 2030, it could save tens of billions of euros and reduce greenhouse gas emissions by 37.5 million tons annually, representing an 8 per cent decrease. There is currently a high demand among industrial players in Europe to remain competitive, and energy cost is a significant factor in that.” “As pioneers in this field, there are plenty of opportunities for us. Their approach not only promises significant cost reductions for industrial players but also aligns perfectly with our mission as investors to support technologies that can substantially mitigate environmental impacts.” “As the industry transitions to more renewable energy use, we believe Companion.energy’s software will play a crucial role in facilitating a smooth transition to renewable energy sources.” Björn Loose, Partner at Cavalry Ventures, adds, “At Cavalry, we recognise the critical intersection between innovation and pragmatism in software solutions that address significant industry challenges.” “Companion.energy’s product offers a compelling example of how advanced technology can be deployed efficiently to better manage energy consumption. This investment underscores our commitment to backing startups that are building software products to make a measurable difference in sustainability for large enterprises.”