Cleantech start-up Grid Edge has successfully closed a new £2 million funding round with participation from bp ventures, Goldacre (part of the Noé Group) and Aston University.
This latest injection will accelerate the company’s mission to reduce the carbon footprint of the built environment, highlighted by Grid Edge’s partnerships with major British property development and investment company Hammerson PLC and the Royal Opera House.
Grid Edge furthermore unlocks flexibility in commercial buildings so as to advance towards a green electric future, as seen with its partnership with Smartest Energy and Marubeni.
Grid Edge attracts investors’ interest and funding
The funding recognises the value and growth that Grid Edge has delivered despite the impact of the pandemic on its core market like shopping centres, airports and universities.
The funding provides a platform to scale up and mature the business, enabling the company to reach more customers, develop new products and further grow its skilled team.
COP26 recognised the importance of reducing carbon emissions as we race to net zero.
Commercial buildings make up 40% of global carbon emissions and thus, this funding marks an exciting turning point in reducing environmental impact in the built environment.
Tom Anderson, the Co-Founder of Grid Edge expressed gratitude for the funding.
“This funding round further strengthens our collaboration with bp, Goldacre and Aston University, who have shown equal ambitions in accelerating the growth of Grid Edge.”
“Optimising energy demand to reach net zero is an essential requirement for businesses.”
“We are therefore very proud to provide many leading companies with predictive Artificial Intelligence technology in order to reduce energy consumption and save money.”
Comments from Grid Edge’s stakeholders
David Bloom, a founding partner at Goldacre (Noé Group) is excited with optimism.
“We saw the huge potential facilitated by Grid Edge’s innovations way back in 2019 and wanted to help support the business in scaling up and expanding its service delivery.”
“Optimal energy management is an essential demand of businesses and consumers.”
“Therefore, through leveraging smarter innovative digital technologies, we can significantly reduce carbon emissions whilst making our buildings more energy efficient.”
“We look forward to supporting Grid Edge as they enter this exciting new business phase.”
Nacho Gimenez, the Managing Partner at bp ventures expressed hope for the future.
“Grid Edge’s AI technology empowers building managers to reduce their energy demand, decrease costs and lower their carbon footprint, without the need for additional investment.”
“Grid Edge is offering a smart, simple and effective digital solution that is already making a great difference in operations for building owners across the United Kingdom.”
“We are delighted to support them as they scale and drive forward the energy transition.”
Neil Scott, the Chief Operating Officer at Aston University applauded the initiative. “This is wonderful for all parties involved and is testament to the work being done at Grid Edge.”
“I am looking forward to continuing my work within Aston University and the Grid Edge board in working towards a net-zero world through collaboration and innovation.”
“It is something we are all proud to be part of,” concluded Neil Scott.