TLDR:
– Gridcog, an energy startup, raised $4.2 million from AlbionVC.
– The company’s platform enables modeling and simulation of renewable energy projects.
An energy software startup called Gridcog has secured £3.3 million (around $4.2 million) in funding from AlbionVC. The company, founded in 2020 in Australia and currently headquartered in London, offers a software platform for modeling and simulating renewable energy projects. This platform helps customers to determine the optimal placement of solar panels, energy storage, and electric vehicle chargers, as well as optimize these plans for commercial and climate goals. Gridcog aims to support the energy transition by providing developers with the data needed to attract decision-makers and financiers to invest in renewable energy projects.
The founders of Gridcog, Pete Tickler and Fabian Le Gay Brereton, previously founded another startup together, which was later acquired. Gridcog’s platform allows users to create baseline projects and test various scenarios, considering factors like energy tariffs, network losses, and technical details of energy storage planning. The company’s customer base includes large supermarket chains, energy companies like Shell and Origin Energy, as well as consultancy firms like EY. The recent funding round of £3.3 million brings Gridcog’s total raised to £5 million, and the company plans to expand its team in the UK and Europe by hiring technical analysts, commercial managers, and business development professionals.
The aim of Gridcog is to simplify the planning process for commercial renewable energy projects and drive more investment into the energy transition towards net zero emissions by 2050. With the support from AlbionVC and a growing customer base, Gridcog is poised to make a significant impact in the renewable energy sector.
