Gridbeyond Closes 52m Series C Funding Round To Continue Its Platform Evolution And Invest In New & Existing Markets

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GridBeyond, a prominent provider of intelligent energy and smart grid solutions, recently concluded a successful €52M Series C financing round. This round was led by Alantra's Energy Transition Fund, Klima, and saw the participation of esteemed investors such as Energy Impact Partners, Mirova, ABB, Constellation, and Yokogawa Electric Corporation. Additionally, existing investor Act Venture Capital also contributed to the funding.

Since its establishment in 2010, GridBeyond has been dedicated to developing its AI platform, which empowers businesses to unlock the full potential of their energy assets. By ensuring sustainability, resilience, and affordability, GridBeyond's technology plays a crucial role in facilitating the global transition towards a zero-carbon future. It effectively bridges the gap between distributed energy resources and the requirements of the power grid, allowing stakeholders across the energy value chain to optimize energy usage in terms of both price and carbon footprint.

The funds raised in this financing round will be utilized to further enhance GridBeyond's technology and solidify its ...
... position as a leader in the Grid Edge Virtual Power Plant (VPP) sector worldwide. This will enable GridBeyond to maximize the potential of assets such as demand response, storage, and renewables, thereby supporting grid operators and local utilities in effectively integrating flexible assets and low-carbon technologies into the system. This integration is particularly crucial as the electrification of heat and transportation continues to gain momentum.

Moreover, this investment will facilitate GridBeyond's expansion into new international markets, capitalizing on the progress made in regulatory environments and renewable energy penetration levels. The company will focus on expanding its presence in the United States and delivering its world-leading Storage, Electric Vehicle (V2G), and Demand Response (DR) solutions in deregulated markets with high levels of renewable energy integration.

Michael Phelan, the Chief Executive Officer and Co-founder of GridBeyond, expressed his satisfaction with the completion of this transaction. He emphasized that this funding, coupled with the support of new partners, will enable GridBeyond to broaden its product portfolio and strengthen its position as a leader in the dynamic energy market.

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