EnviroTech startup Grid Edge has closed a £2 million funding round in its drive to reduce the carbon impact of buildings.
The latest injection features participation from bp ventures, Goldacre (part of the Noé Group) and Aston University.
Grid Edge has partnerships with major British property development and investment company Hammerson PLC and the Royal Opera House. It says it also unlocks flexibility in commercial buildings to advance to a green electric future, as seen with its partnership with Smartest Energy and Marubeni.
Following COP26, the critical importance of reducing carbon emissions has never been more widely recognised. The race to net zero is on and with commercial buildings making up 40% of global carbon emissions, this funding marks an exciting turning point in reducing environmental impact in the built environment.
Tom Anderson, co-founder at Grid Edge, said: “This funding round further strengthens our collaboration with bp, Goldacre and Aston University, who have shown equal ambitions in accelerating the growth of Grid Edge.
“Optimising energy demand to reach net zero is now an essential requirement for businesses. We are proud to provide many leading companies with predictive AI technology to reduce energy consumption and save money.”
Nacho Gimenez, managing partner at bp ventures, said: “Grid Edge’s predictive AI technology empowers building managers to reduce their energy demand, decrease costs and lower their carbon footprint, without the need for additional investment.
“It is a smart, simple and effective solution that is already making a difference to many building owners in the UK. We are delighted to continue to support them as they scale up and help drive forward the energy transition.”
Neil Scott, chief operating officer at Aston University, said: “This is wonderful news for all parties involved and is further testament to the work being done at Grid Edge.
“I look forward to continuing my work within Aston University and the Grid Edge board in working towards a net-zero world through collaboration and innovation. It is something we are all proud to be part of.”