GridBeyond, an Irish intelligent energy and smart grid platform provider, has secured €52 million in Series C funding to further develop its AI-powered energy technology and expand its presence into the US market.
Energy consumption is a major contributor to climate change, with around 60% of global greenhouse gas emissions attributed to it. GridBeyond addresses this challenge by developing smart energy technology aimed at optimizing energy generation, demand, and storage to pave the way for a zero-carbon future.
“GridBeyond has established itself as a VPP leader across different countries, enabling stakeholders throughout the value chain to optimise energy.” said Bastien Gambini the Managing Partner of Klima
GridBeyond utilizes AI to collaborate with customers and optimize energy use from various sources such as renewables, demand response, and storage.
Its platform bridges the gap between distributed energy resources and the requirements of the power grid, enabling stakeholders to optimize energy use for both price and carbon footprint, thus supporting the transition to a net-zero future.
“The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform and deliver world-leading AI and powerful automation capabilities to smart grid and energy markets across the world.” said Michael Phelan the CEO and Co-founder of GridBeyond
GridBeyond’s technology targets a wide range of stakeholders across the energy value chain, including generators, network operators, and end users.
By intelligently dispatching flexibility into the energy market, the platform helps asset owners and energy consumers unlock new revenues, savings, resilience, and management of price volatility.
With its expansion into the US market and focus on new international markets, GridBeyond aims to further support the transition to sustainable energy practices on a global scale.
