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Clean energy software platform Gridcog raises £3.3m

Image credit: bombermoon / Shutterstock

Gridcog, a London-based climate software startup for planning and tracking energy transitions, has raised £3.3m.

Founded in 2020, Gridcog develops software for organisations undertaking clean energy projects. The platform simulates the process to inform decision-making on the right solutions and track progress.

The platform accounts for market conditions, the performance of different energy types such as solar and wind and determines how an energy transition project might affect the client in question.

Gridcog users include Shell, Indigo Power and Hydrock.

“The common thread between all our clients is a desire to invest in the energy transition. They want to play a role in building a more sustainable energy future, yet are facing hurdles at almost every turn,” said Gridcog co-founder Pete Tickler.

“Identifying the winning play requires sophisticated techno-economic modelling, which only Gridcog provides, while removing the complexity, costs, and confusion around these investments”.

The funding round was led by AlbionVC, whose other investments include AI startup Hazy and data unicorn Quantexa.

“Gridcog’s technology is a game-changer, essential for accelerating investment into clean energy projects, especially when traditional tools fall short in addressing the increasingly technical and commercial complexities of energy project investment,” said AlbionVC investment director Adam Chirkowski.

Gridcog said it saw revenue increase five-fold in the UK and Europe last year. The company credited an increased demand for sustainable energy solutions globally for its recent success.