Gridcog, an energy technology company providing a modelling platform for renewable generation, storage and flexible energy projects, has raised US$10 million (£7 million) in a Series A round led by ABB. Axpo, DNV Ventures and VERBUND X Ventures participated alongside existing investors AlbionVC and the Clean Energy Finance Corporation. The funding will support global expansion and further development of Gridcog’s energy modelling platform.
Modelling Complex Energy Projects
Gridcog provides energy professionals with tools to model generation, storage, flexible loads, grid constraints, tariffs and market participation throughout the project lifecycle. More than 16,000 projects across 40+ markets have been modelled using the platform, with customers including Octopus Energy Generation, Shell, Greenvolt, NextEnergy Capital, European Energy, Vestas and PwC.
Fabian Le Gay Brereton, CEO and co-founder of Gridcog, said: “Most modelling tools ask you to trust a number you can't trace. Gridcog does the opposite: every assumption is visible, every result goes down to the interval, and it's all backed by rigorous deterministic computational modelling and mathematical optimisation.”
Backing From Global Energy Investors
The Series A brings together investors spanning industrial electrification, energy trading, project development and energy consulting, reflecting growing demand for tools capable of evaluating increasingly complex renewable and flexible energy projects.
Fabian Le Gay Brereton said: “The strategic significance of today's round lies as much in who is investing as in the capital itself. Their collective backing is a signal that transparent, rigorous modelling is becoming foundational for the energy transition, not a nice-to-have.”
Pete Tickler, Chief Product Officer and co-founder of Gridcog, added: “The demand we're seeing is global, from developers, utilities and energy majors who have outgrown the tools and processes that they started with and need something that works and is trusted across all their projects and markets.”
Supporting Global Expansion
The new capital will help Gridcog expand into additional markets, support more asset types and strengthen modelling capabilities for storage, hybrid projects, renewable generation and flexible demand. Founded in Australia, Gridcog currently operates offices in London, Berlin, Madrid, Perth and Melbourne.