- Gridcog’s clean energy project assessment and simulation platform secures £3.3M funding, enabling companies to determine the best clean energy solution for their needs.
- Gridcog’s platform provides a holistic view of energy resources, including solar, wind, battery storage, EV fleets, and charging infrastructure, across multiple sites and energy markets.
- Companies like Shell, Mitie, and EY use Gridcog to manage multi-asset, multi-site projects in various countries.
- The platform helps users assess existing solutions, simulate market and project changes, and model economically viable solutions for complex energy projects.
- The funding from AlbionVC will support Gridcog’s expansion in the UK and Europe, following significant revenue growth in these regions.
Gridcog’s Clean Energy Simulation Platform Revolutionizing Clean Energy Investments
Gridcog, a cleantech software startup, has recently announced securing £3.3 million in funding for its innovative clean energy assessment and simulation platform. This platform is designed to assist companies looking to invest in clean energy projects by providing them with the necessary tools to determine the most suitable solution based on their commercial and market requirements.
Empowering Companies in the Energy Transition
Before the inception of Gridcog’s platform, companies interested in clean energy investments were often faced with challenges in making informed decisions due to the lack of comprehensive tools and resources. They had to rely on various specialist tools, spreadsheets, and costly consultants to navigate the complexities of energy projects. However, even the most advanced tools available were unable to effectively handle the intricate nature of modern energy projects, leading to slower decision-making processes with higher risks and potential errors.
Gridcog’s platform offers a holistic approach to assessing energy resources, including solar, wind, battery storage, EV fleets, charging infrastructure, and flexible loads across different sites and energy markets. By leveraging real-time data on energy prices and market conditions, companies can simulate the performance of existing solutions, evaluate the impact of changes in the market and project parameters, and analyze the economic viability of their projects under various commercial scenarios. This comprehensive view enables firms to model and test the most cost-effective solutions for complex projects spanning the entire energy value chain quickly and accurately.
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Key Players Leveraging Gridcog’s Technology
Leading companies such as Shell, Mitie, and EY have embraced Gridcog’s platform to manage multi-asset, multi-site projects in regions like the UK, Europe, Australia, New Zealand, and Japan. According to Pete Tickler, co-founder of Gridcog, the platform caters to clients who are committed to investing in the energy transition but face challenges in identifying the optimal approach for their projects. The advanced techno-economic modeling capabilities provided by Gridcog help streamline decision-making processes, eliminate complexities, reduce costs, and bring clarity to energy investments.
Genna Boyle, Director of UK and Europe at Gridcog, highlights the complexity associated with energy projects, particularly when multiple technologies interact with dynamic energy markets. The simulation and optimization technology offered by Gridcog empowers industry leaders to navigate this complexity and make well-informed decisions when investing in the energy transition.
AlbionVC Backs Gridcog for Expansion
The recent funding round led by AlbionVC will enable Gridcog to accelerate its expansion efforts in the UK and Europe, following a significant five-fold revenue growth in these regions. Adam Chirkowski, Investment Director at AlbionVC, emphasizes the game-changing nature of Gridcog’s technology in facilitating investments in clean energy projects. Traditional tools often fall short in addressing the evolving technical and commercial complexities of energy project investments, making Gridcog’s platform a crucial asset for driving the transition towards sustainable energy solutions.
Gridcog’s clean energy assessment and simulation platform are poised to revolutionize the way companies approach clean energy investments. By providing a comprehensive and data-driven solution to navigate the complexities of energy projects, Gridcog is empowering businesses to make informed decisions that align with their sustainability goals and drive the transition towards a more sustainable energy future.
Links to additional Resources: 1. https://www.gridcog.com/ 2. https://www.cleanenergy.org/ 3. https://www.irena.org/