Berlin-based Amperecloud, a provider of software platform designed to manage renewable energy sources, announced on Wednesday that it has secured €3.3M in a Series A+ funding round led by Encevo.
Existing investors, including Point Nine and Vireo Ventures, also participated in the funding round. The latest funding round brings the total capital raised to over €10M.
The company will use the funds to develop its product portfolio further to become the operating system for renewable energy.
Frederik Merz, CEO of Amperecloud, says: “We see a highly fragmented IT landscape in the market at many EE companies, which leads to enormous manual effort in the teams, but also to poor data quality.”
“Amperecloud already serves as a central operating system and solves these problems. Our Amperecloud Platform software solution can receive and process data from all assets and can also be seamlessly connected to other tools such as ERP or BI systems. At the same time, the Amperecloud Platform can be used to automate a variety of workflows such as monitoring, reporting, or maintenance management. We are very pleased to be able to pursue this path in the future with one of the largest investors in renewable energies in Europe,” he further explains,
What does Amperecloud solve?
According to International Energt Association (IEA), renewable energy technologies like solar and wind are the key to reducing emissions in the electricity sector, which is the single largest source of CO2 emissions today.
However, managing renewable assets is still cumbersome and far from being automated or intelligent.
If the market grows as anticipated, by 15 per cent CAGR from 2022 to 2030, and reaches a total installed capacity of over 800 GW, new solutions for managing renewable asset portfolios will be needed.
Here’s where Amperecloud comes into play!
Amperecloud: All-in-one operating system for renewable energy
Founded by Frederik Merz (CEO), Florian Strunck (COO), and Erik Nitschke (CTO), Amperecloud is a cloud-first end-to-end platform for owners & operators of renewable power plants.
The company’s platform reduces your monitoring effort through efficient automation, intelligent workflows, and complete customisability.
The latform connects the full value chain from local communication and remote control for operators through IoT, to automated monitoring, to connecting the facilities to energy traders.
The hardware-independent solutions come with open interfaces and can be integrated into their existing system landscape.
More than 400 companies already use the Berlin-based company’s software and hardware solutions to manage their renewable energy portfolios efficiently.
The company also offers additional hardware and services such as its own data loggers and an outsourced control centre.
The investor
Encevo Group operates in several countries and offers a range of energy services, including production, storage, supply, transport, trading, distribution, and other services.
The company is actively involved in transitioning to sustainable energy by embracing technology, partnering with local communities, and investing in promising startups and scale-ups.
“Amperecloud has achieved great success over the past five years and we see great potential for them to build an operating system for all renewable energies enabling their smooth integration for our customers and increasing output as well as marketing capabilities, including through complementary power storage. We see this pivotal block to embrace the energy transition with and for our customers,” comments Nicolas Milerioux, Head of Venture Capital at Encevo, on the investment.
“To date, we have not seen a comparable software and hardware solution on the European market that offers an enormous range of functionalities with completely open interfaces,” adds Milerioux.
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