2 years ago

Axle Energy Raises €1.5 Million to Decarbonize the Electricity Grid

  • London-based energy flexibility startup Axle raises €1.5 million to connect EVs and home energy devices to electricity markets, enabling dynamic flexibility to the grid and shifting energy usage to cheaper and greener times.

      • ProblemTechnology

      "The UK's transition to renewable energy sources like wind and solar is hindered by the inflexible nature of the existing electricity grid, which struggles to efficiently manage the intermittent supply of these renewables."

      Solution

      "Axle Energy provides software that connects electric vehicles (EVs) and home energy devices, such as heat pumps and batteries, to electricity markets. This allows Axle to leverage the unused flexibility of these devices to balance the grid by charging them when renewable energy is abundant and cheap and reducing their consumption when it's scarce and expensive."

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