Dutch startup Sympower secures €21M to balance out the energy grid
Update: 2024-11-13
Description
Amsterdam-based startup Sympower has secured €21mn as it looks to scale its grid-balancing technology. Sympower partners with businesses that use a large amount of electricity. It gains access to some of their energy assets and can turn them on and off when the grid requires balancing — a process called demand response. Sympower’s software platform uses AI to analyse data and optimise when and how much power businesses can sell at any given time, making energy use adjustments more effective and profitable for all parties. Grid operators pay Sympower to stabilise the energy supply. The company passes most of that…
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