Rotterdam-based Gradyent, a green tech startup, announced on Tuesday that it has secured €10M in a Series A round of funding. Existing investors Capricorn Partners, ENERGIIQ, and Helen Ventures, and new investor Eneco contributed to the round.
More than 25 per cent of global energy consumption comes from heating and cooling buildings. And every year, these grids lose about a quarter of their heat. At the same time, fuel prices are rising and there’s an increased call for reducing carbon emissions.
Outdated software is often to blame for inefficient heating systems. As we move towards integrated energy systems with local, sustainable sources, it’s even more critical to have the right software in place.
And here’s where Gradyent steps in.
“Our mission is to make heating systems future-proof. With the Gradyent Digital Twin, we can both increase the efficiency of existing systems and accelerate the transition to more sustainable systems,” says Herve Huisman, CEO of Gradyent.
The Dutch startup has developed software that helps heating companies optimise their heat systems and to reduce CO2 emissions so that they can continue to supply affordable and reliable heat.
The Dutch company says it will use the fresh funds to make district heating systems more efficient and sustainable.
Gradyent: What you need to know
Founded in 2019, Gradyent has developed software based on the Digital Twin technology. A digital copy of the physical heat system combines geographical, weather, and sensor data with physical models and AI.
The platform then analyses customer heat demand on a granular basis. It combines this information with hydraulic and thermo-dynamic losses within the network, providing optimal input for different heat sources within the network.
The Digital Twin technology then matches customer demand and heat production optimally, resulting in lower energy losses and emission reductions.
As per the company’s claims, the Digital Twin technology saves on average 20 per cent heat loss, 10 per cent CO2 emissions, and 5-10 per cent fuel costs.
Eneco Ventures: What you need to know
Eneco Ventures is the investment arm of Netherlands-based energy innovator Eneco. The company invests in startups and scale-ups that accelerate the energy transition.
“Eneco is pleased with the investment in Gradyent. The acceleration of sustainable heat is one of the important pillars of our One Planet ambition to be climate neutral by 2035, together with our customers. Eneco has been a customer of Gradyent for a long time and wants to deepen the relationship with this investment further and continue to share knowledge with a unique and leading technology company in the field of heating systems,” says Robert Blom, investment director, Eneco Ventures.