2 years ago

Piclo Secures £8.3 Million in Series B Funding for Flexibility Services Marketplace

  • Piclo, a London-based flexibility services marketplace, has raised £8.3 million in Series B funding led by Future Energy Ventures and Clean Growth Fund with participation from several other investors

  • The company plans to use the funds to expand its presence in the UK and internationally.

      • ProblemTechnology Infrastructure

      "Balancing the demand and supply of electricity is a critical challenge for energy grids. Peak demand for electricity can often exceed supply, leading to blackouts or higher energy prices. This problem is exacerbated by the increasing penetration of renewable energy sources like solar and wind, which are inherently intermittent. "

      Solution

      "Piclo's platform creates a marketplace for energy flexibility services, which allows energy providers to source flexibility from various sources, such as electric vehicles (EVs) and other flexible assets. These assets can be used to reduce peak demand, provide ancillary services to the grid, and manage the intermittency of renewable energy sources. "

      Covered on