Greenely: €8M Funding to Turn Your Home Into an Energy Powerhouse & Save You Money
Techcrunch3 months ago
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Greenely: €8M Funding to Turn Your Home Into an Energy Powerhouse & Save You Money

energy
tech
startup
sustainability
greenenergy

Summary:

  • Greenely, a Swedish energy tech startup, raised €8M to expand its energy management platform and empower households to save money and contribute to a cleaner energy future.

  • Greenely offers a freemium platform with features like energy consumption analytics, optimization services, home battery integration, and participation in a residential virtual power plant (VPP).

  • Customers can achieve average savings of €250 per year, with potential savings up to €500 for EV owners.

  • Greenely's VPP allows customers to generate revenue by contributing to grid stability, earning from government payouts.

  • Greenely aims to become an independent energy platform, offering its services beyond its own energy supply, allowing it to reach millions of households and accelerate Europe's energy transition.

Greenely: Turning Homes into Energy Powerhouses and Saving You Money

Greenely, a Swedish energy tech startup, is on a mission to revolutionize how households manage their energy consumption. With a recent €8 million Series A funding round, Greenely is expanding its platform across the Nordic region, aiming to reach millions of homes and contribute to Europe's energy transition.

How Greenely Works

Greenely offers a freemium energy management platform with features like:

  • Energy consumption analytics: Gain insights into your electricity usage and identify areas for improvement.
  • Energy optimization services: Reduce your electricity bill through features like smart EV charging, accessing government payouts, and automated demand optimization.
  • Home battery integration: Install a home battery and store energy for later use, responding to fluctuating electricity prices and generating revenue by selling excess energy.
  • Integration with solar panels and heat pumps: Manage and optimize energy use from renewable sources.
  • Residential Virtual Power Plant (VPP): Participate in grid stabilization, earn revenue from government payouts, and contribute to a cleaner energy future.

Key Features and Benefits:

  • Average savings of €250 per customer per year: Potential savings up to €500 for EV owners.
  • Revenue generation through VPP participation: Earn by contributing to grid stability.
  • Home battery investment recouped in 2-3 years: Due to savings and revenue generated.

Beyond Energy Supply: Greenely's Vision

Greenely envisions itself as an energy platform rather than just a supplier. This allows it to offer its services to customers of other energy providers, enabling everyone to benefit from its innovative features.

Future Plans and Expansion

With the new funding, Greenely plans to:

  • Expand to Finland and Norway: Target these countries with harmonized frequency balancing services.
  • Explore other European markets: Focus on regions with high smart meter penetration (like France and the UK).
  • Become the largest residential virtual power plant in Europe: Reach millions of homes and accelerate the transition to a more sustainable energy future.

A Collaborative Approach

Greenely's vision is to empower households to actively participate in the energy transition, saving money, generating revenue, and contributing to a cleaner energy future. By becoming an independent energy platform, Greenely aims to revolutionize how we consume and manage electricity, making it a key player in Europe's energy transformation.

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