Gridcog secures £3.3m to drive the energy transition in UK and EU
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Gridcog, a forward-thinking clean energy software company, has secured a £3.3 million investment led by us at AlbionVC, marking a significant milestone in its expansion efforts.
This funding will fuel Gridcog’s mission to drive the energy transition by enhancing transparency, efficiency, and commercial viability in clean energy investments across the UK and Europe.
Founded in 2020 by EnergyTech veterans Pete Tickler and Fabian Le Gay Brereton, Gridcog aims to facilitate the global shift towards a decarbonized and decentralized energy future. Prior to Gridcog, companies navigating energy investments faced challenges due to reliance on disparate tools and consultants, resulting in opaque and error-prone decisions. Gridcog’s platform offers a comprehensive view of energy resources, including solar, wind, battery storage, EV fleets, and charging infrastructure, enabling users to assess performance, simulate market changes, and model economically viable solutions transparently and accurately. Pete Tickler emphasizes the importance of Gridcog’s techno-economic modeling in guiding clients towards sustainable energy investments while simplifying complexities and reducing costs.
Gridcog’s user-friendly software has led to rapid growth and attracted major players like Shell, Origin Energy, Mitie, Mitsubishi Heavy Industries, and EY. With Genna Boyle leading UK and European operations, the company is expanding in these pivotal regions due to their significant market size and prominence in the energy transition. Revenue from UK/Europe customers surged sixfold in the past year, with over 60% of inbound leads originating from this region.
“The energy transition is a truly global revolution and Gridcog has always been committed to that global mission. Driven by climate change and renewed commitment to transition away from fossil fuels at the recent COP28 conference, the world is switching to solar, wind and batteries for electricity generation, whilst transport, heat and chemical processes are being electrified. This makes the energy transition the biggest and fastest infrastructure replacement project in history, and Gridcog is here to help achieve it” explained Gridcog co-founder and CEO, Fabian Le Gay Brereton.
“Gridcog’s technology is a game-changer, essential for accelerating investment into clean energy projects, especially when traditional tools fall short in addressing the increasing technical and commercial complexities of energy project investment. We are excited to support the Gridcog team as they look to build a category leader addressing the biggest challenge of our time.”
Adam Chirkowski, Investment Director AlbionVC
More on Business Insider here.
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