Fortum Innovation & Venturing announces investment in Sweden’s Fifty Energy. Read to know more about how the company plans to use the funds in detail
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Åre, Sweden-based Fifty Energy, a clean energy technology company specialising in AI-driven flexibility solutions, has secured €1.4M investment from Fortum Innovation & Venturing.
This investment is part of Fortum Innovation & Venturing’s role in identifying and supporting breakthrough entrepreneurs, startups, and technologies that contribute to a carbon-neutral future.
Based out of Espoo, Fortum Innovation & Venturing’s investment portfolio comprises companies, mostly of solutions to flexibility, storage, optimisation and emerging technologies for clean energy and decarbonisation of customers, industries and societies.
“Our investment in Fifty Energy aligns perfectly with Fortum’s ambition to be at the forefront of innovation and digitalisation in the energy sector. As we prepare for a future of increased electrification and renewables, flexibility will be key to ensuring reliability and affordability. Fifty Energy’s technology offers a scalable solution to one of the most pressing challenges in the energy transition”, comments Tapio Poutiainen, Director Fortum Innovation & Venturing.
The capital will support the Swedish company’s expansion across key European markets and accelerate product development, including a combination with Fortum’s digital platforms and customer solutions.
Fifty Energy: AI optimisation platform for power utility companies
Led by Johan Frisell, Fifty Energy’s software platform uses advanced algorithms and real-time data to optimise low-carbon energy consumption and production.
It helps customers match supply and demand as the power sector shifts to electrification, decarbonisation, renewables, volatility, and digitalisation.
It combines infrastructure, an AI optimisation engine, and market integrations so partners can manage flexibility internally and participate in external energy markets while delivering a better customer experience.
“We are thrilled to welcome Fortum as a strategic investor. Their deep industry expertise and commitment to clean energy make them an ideal partner as we scale our impact. Together, we aim to unlock new levels of efficiency and sustainability for our customers”, explains Johan Frisell, CEO and Co-Founder of Fifty Energy.
