Reel: Energizing Europe’s Electricity Market with €5 Million Boost

Copenhagen-based energy tech company, Reel, has secured €5 million in funding to disrupt Europe’s electricity market. The investment was led by Transition, a venture capital fund focused on companies driving the climate transition, with participation from existing investors UVC Partners and The Footprint Firm, as well as energy specialists and successful founders including the Chief Project Development Officer of Climeworks and the Co-founder of Netlify. Reel will use the funding to scale its model for B2B renewable electricity supply across Europe. The company offers an alternative to conventional methods of purchasing renewable energy, such as Guarantees of Origin or Renewable Energy Certificates, which are criticized for not leading to actual CO2 reductions. Reel’s solution enables companies of all sizes to access fixed-cost electricity and contribute to the renewable energy transition.