Sympower secures $3.3 million to reduce fossil fuel use in the electricity grid
Summary
ImpactAlpha, October 3 – When power needs fluctuate, most electricity grids meet demand spikes with fossil fuels-based power, because it’s easy to increase or decrease as needed. Amsterdam-based software company Sympower wants to minimize that dirty energy use by helping businesses prioritize and balance their energy needs. Sympower’s platform logs businesses’ energy consuming processes, machinery and appliances—anything from air conditioners to industrial smelters—then moderates their energy consumption around baseline needs. Users’ flexibility helps them save on energy costs while supporting a balanced energy grid. “We need all hands on deck for a clean energy future, with smart grid innovators fulfilling a crucial role in accelerating the energy transition,” said Social Impact Ventures’ Helmer Schukken