SET and Centrica invest in GreenCom
GreenCom Networks provides end-to-end solutions for distributed energy resources management (DERM), enabling energy retailers and energy device OEMs to offer innovative digital energy services to their residential customers.
Amsterdam, 19 February 2019 – GreenCom Networks has successfully closed a significant fundraising round led by international energy and service company Centrica. The current shareholders SET Ventures, Munich Venture Partners and Cosmos were also participating in this round. The funding will be used to finance a further international expansion of GreenCom’s Energy Internet of Things (IoT) platform in the European market.
As the future energy markets will be heavily based on distributed assets like solar PV, batteries, electrical heating devices or electric vehicles, the number of those devices is expected to grow by a factor of five over the next 15 years. This provides significant opportunities for energy service companies to offer end-to-end services for customers. GreenCom’s Energy IoT platform is the foundation for digitally connecting and managing those devices for an optimal usage for homeowners.
“From the early days, we knew that the opportunity for GreenCom was huge. We are excited to have Centrica on board as new investor and customer to assist the company in reaching the next level.” said Wouter Jonk, Managing Director at SET Ventures.”
“We are delighted to have Centrica on board as an investor,” commented Christian Feisst, CEO of GreenCom. “Not only has Centrica a strong customer base in Great Britain and North America, they also bring extensive experience with customer-facing business in the energy industry to the table. And Centrica has a proven track record of building up customer-centric service business.”
GreenCom integrates distributed assets from a large variety of vendors and enables new energy services like power, heat or mobility flat-rates, energy communities, or generation of additional benefits from trading the flexibility of devices in a virtual power plant.
About GreenCom Networks
As a software-as-a-service company, GreenCom Networks offers a white label Energy IoT Platform to utilities, energy service companies, and energy-relevant device manufacturers. With its platform GreenCom Networks enables customers to launch disruptive digital business models while leveraging the increasing share of distributed energy assets and end consumers’ demand for innovative services like energy flat rates, energy communities or peer-to-peer energy.
About SET Ventures
Since 2007, Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy system. SET Ventures focuses broadly on innovative energy generation, energy distribution and storage, and energy efficiency. SET Fund III provides early growth-stage capital to ventures that shape the energy system transition through smart software and services-based business models. For more information please visit www.setventures.com.
Managing Director and CEO
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