Residential Distributed Energy Resource Management platform for energy retailers and energy device OEMs; the investment will be used to accelerate international roll-out
GreenCom Networks AG (“GreenCom”) received funding from SET Ventures (“SET”) as the lead investor, along with participation from current shareholder Munich Venture Partners (“MVP”). The money will be used for accelerating the international expansion of the company and customer acquisition, as well as developing additional use cases based on its platform.
GreenCom (www.greencom-networks.com) is a software company, offering white-label solutions for energy retailers and energy device manufacturers for Distributed Energy Resources Management. Its platform enables the connection and monitoring of energy devices and optimisation of energy demand, energy supply and energy storage through data from distributed energy devices in (and around) homes. Energy devices that the GreenCom platform can handle include amongst others: batteries, heat pumps, electrically heated boilers, electrical vehicles and solar PV installations.
GreenCom use cases:
GreenCom’s use cases include maximising autarky levels (self-consumption) for homes with solar PV, a battery (and heat pump), a standardized ‘community sharing of energy’ solution and enabling flat rates for energy retailers through the use of VPP’s.
The transition from fossil to renewable energy is disrupting the existing business models of traditional energy retailers and device companies. Energy retailers have a need to start offering data driven services on top of their existing business of selling commodities (kWh and m3 gas).
Energy device manufacturers have a need to offer intelligent connected devices that can: optimize (shift) energy usage, integrate with other devices such as storage, optimise self-consumption, allow for remote monitoring and management so that they can guarantee service levels, decrease O&M requirements and reduce warranty costs.
The GreenCom SaaS-based platform for energy management addresses and provides solutions for these needs.
“GreenCom enables the energy transition at scale. We invested because we recognize the company’s unique capabilities, products and services in Distributed Energy Resources Management. The scalability of their offering to energy retailers and energy device manufacturers is the best in the industry along with a strong team make GreenCom a potential winner in the new energy value chain” said Wouter Jonk, Managing Partner at SET Ventures.
GreenCom has been selected to participate in the Free Electrons Programme 2017, hosted by eight global utilities that combined have a customer base of 73 million users. The utilities selected the most innovative startups out of 450 companies across the globe to work closely together on topics concerning the future of energy.
“We are very keen to have SET Ventures as a shareholder, because not only is the team focused on and experienced in this transition in the energy sector, they also have a broad network of Limited Partners and advisors that are extremely important for us to succeed”, said Christian Feißt, CEO of GreenCom.
“Our distributed energy management solution allows us to support utilities and OEMs in a unique way,” said Peter Müller-Brühl, COO of GreenCom. “GreenCom enables the digital transformation that energy companies need to not only evolve their business models but also improve their competitive advantage and keep them ahead of the curve.”
For more information about GreenCom please contact firstname.lastname@example.org or call +49 89 510 856 01.
Since 2007 Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy sector. SET Ventures focuses broadly on innovative energy generation, energy distribution and storage and energy efficiency. SET’s investment priority is for those ventures that develop software-based services for the energy sector, with or without hardware components, defined by SET Ventures as smart energy solutions. SET Ventures is currently invested in, amongst others, sonnen, energyworx, Luxexcel and Elmodis.