On 24 July 2024, the London-based Renewabl announced the closure of a “multi-million” round of seed investment. Founded in 2023, the startup has developed a platform that, they say, enables end-users to trace renewable energy to its source of generation and to trade energy attribution certificates (EACs) “with up to hourly precision.”
The idea is to help companies get insights into their own emissions and carbon-free energy (CFE) scores so that they can better manage their own environmental strategies.
Leading the funding round was the Finnish firm Helen Ventures, but also participating was Luxembourg’s Encevo (part of a group that also includes Enovos, Creos and Teseos).
Nicolas Milerioux, head of venture capital at Encevo, commented that his venture capital unit wants to help business build “flexible, efficient and ultimately shorter bridges between our consumers and green power generation sources.” In this context comes the London-based startup: “Renewabl rightly sits in that picture, providing important middle-link, pivotal capabilities, and we are thrilled to explore how to blend best with our in-house skillsets.”
Continuing the VC unit’s busy week, the news was released on 26 July 2024 that Berlin-based startup Amperecloud closed a series A+ financing round worth €3.3m and led by Encevo.
Amperecloud is a monitoring platform for renewable power companies that tackles the “fragmented IT landscape”--in the phrasing of CEO Frederik Merz--of many green energy companies. Its ambition is to become a “complete operating system” for renewable energies. Founded in 2019, the company already has some 400 clients and 60 employees.
“We see great potential for [Amperecloud] to build an operating system for all renewable energies,” commented Milerioux, adding that the firm can also increase output via complementary power storage. “We see this [as a] pivotal block to embrace the energy transition.”
“To date,” he added, “we have not seen a comparable software and hardware solution on the European market that offers an enormous range of functionalities with completely open interfaces.”
Article updated on 30 July at 11:00am to correct €3.3bn to €3.3m.