Smart grid firm lands $86 million to develop VPPs and help customers load match renewables
This article was originally posted on RenewEconomy Australia on 27th August 2024.Irish-based smart grid technology company GridBeyond says it has raised €52.25 million ($A86 million) in a new funding round that will help it expand its virtual power plant business, including in Australia, and help customers match load with green energy output.
The Series C financing round was backed by led by Alantra’s Energy Transition Fund, Klima, and included new and returning investors such as Energy Impact Partners, Mirova, Act Venture Capital, ABB, Constellation and Yokogawa Electric Corp.
The Dublin-based GridBeyond has since 2010 been developing an AI platform that connects utility-scale and behind the metre renewables, battery storage, and energy demand load. It is part of a global push to make grid smarter and focus not just on the supply side but also optimising demand for periods when wind and solar output is at their highest.
