Mirova’s Impact Private Equity team that invests in sustainable innovative solutions and technologies contributing to the environmental transition, took part in a €52M Series C financing round for GridBeyond, a leader in intelligent energy and smart grid platform provider for distributed energy resource management.

Since its foundation in 2010, GridBeyond has been developing its AI platform to help businesses unlock the full potential of energy assets, ensuring the sustainability, resilience, and affordability of energy as the world moves towards a Net Zero1 future.

GridBeyond’s technology unleashes the latent power within every connected asset, including commercial and utility-scale renewables generation, battery storage, and energy demand load. This bridges the gap between distributed energy resources and the requirements of the power grid, enabling stakeholders across the value chain, from generators and network operators to end users, to optimise energy use for price and carbon intensity.

The company will use the funding to support its international expansion, increase its US presence and continue its investment in R&D to facilitate the delivery of a global zero-carbon future.

The Series C round was led by Alantra’s Energy Transition Fund, Klima and also included new investors Energy Impact Partners, ABB, Constellation and Yokogawa Electric Corporation as well as investment from existing investor, Act Venture Capital.

“We are delighted to complete this transaction and have Mirova bring its expertise on environmental impact to the table. This funding, together with the support of our new partners, will enable us to expand our product offering and strengthen our leadership position in this space.” Said MICHAEL PHELAN Chief Executive Officer and Co-founder of GridBeyond.

“We are delighted to support the expansion of GridBeyond, alongside investors leaders in the energy space, with a global footprint and the ability to accompany GridBeyond in this new stage of its journey. GridBeyond’s solutions contribute to advance the transition of energy networks towards decarbonization, decentralization and digitalisation. The company’s technology meets a need for flexibility which is not new but will keep increasing as the penetration of renewable energy and storage grows. We are confident the company’s strategy is in line with our goal to combine attractive yield potential for our clients and positive environmental impact.” Declared ANNE BOULET, Investment Director at Mirova.

1 Global net zero emissions describes the state where emissions of carbon dioxide due to human activities and removals of these gases are in balance over a given period.

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