Belgian-American startup NOX Energy has raised $1M (approximately €952K) in funding to develop a platform that connects manufacturers of energy-efficient devices, like heat pumps, to the energy market.
The startup aims to help these devices balance the electricity grid, supporting the advancement of the energy transition.
With new funding led by Volve Capital and supported by Seeder and angel investors, the company plans to accelerate growth, attract talent, and scale its technology across markets.
NOX Energy: Everything you need to know
NOX Energy was founded to promote sustainability by connecting energy-efficient devices to the energy market, enabling households and businesses to save on energy costs while supporting a more stable and greener electricity grid.
The startup claims to address two major challenges: the high costs of electric heating systems and the need to stabilise the electricity grid. Its platform integrates smart devices like heat pumps into the energy flexibility market.
NOX Energy was founded by Axelle Moortgat, CEO, a computer science engineer from Mechelen; Martin Michaux, CTO, a data science & AI engineer from Liège; and Louis Clermont, COO, a graduate in business and finance from Brussels.
The founders met nine months ago, shortly after or during their studies, and within two months were selected for the Entrepreneurs Roundtable Accelerator (ERA) programme in New York, where they secured their first investment from an American investor.
After returning to Europe, NOX Energy has gained momentum, focusing on developing software for heat pumps and executing pilot projects with major manufacturers for residential and commercial applications.
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