9 years ago

Upside Energy Raises £545K in Seed Funding for Virtual Energy Store

  • Upside Energy, a London-based virtual energy store, has raised £545k in seed funding

  • The company intends to use the funds to expand operations, build out its senior management team and run a large scale pilot with National Grid

  • Backers include high-net-worth angel investors from ClearlySo, as well as industry leaders such as Ian Marchant, former CEO SSE, and Chris Joly from Vitol

  • Upside Energy operates by aggregating unused energy from devices owned by households and small business sites to sell balancing services to grid operators.

      • ProblemEnergy

      "reducing the need to turn on polluting and expensive power stations during peak demand times"

      Solution

      "aggregating unused energy from devices owned by households and small business sites to sell balancing services to grid operators"

      Covered on