2 years ago

Renew Risk Raises £1.7 Million in Seed Funding to Expand Clean Energy Risk Analytics

  • Renew Risk, a London-based clean-energy risk analytics SaaS startup, has secured £1.7 million in seed funding led by Insurtech Gateway with participation from One Planet Capital, University of Surrey, and angel investors Chris Adelsbach and Rahul Munjal

  • The company plans to expand its customer base in the US and Asia and build products for other asset classes

  • Renew Risk provides risk assessment solutions that enable (re)insurers and offshore wind farm developers to assess the risk of renewable energy assets in deep sea and disaster-prone regions.

      • ProblemTechnology

      "Right now, it's difficult to properly assess the risk of billion dollar renewable energy assets being built in deep sea and natural disaster prone regions. This makes insurers hesitant to provide insurance, and investors are less likely to fund these important projects."

      Solution

      "Renew Risk offers a data-driven risk modelling software that helps insurers understand the risk of these projects and confidently provide insurance. This helps secure funding and accelerates the transition to renewable energy."

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