Powernaut’s software balances local generation from decentralized devices such as solar panels, batteries and heat pumps with the needs of the electricity grid.
Belgian renewable software startup Powernaut has raised €2.4 million in a pre-seed funding round led by Berlin-based Revent, with participation from several other major European venture capital firms. London’s Seedcamp, Antwerp’s Pitchdrive and Brussels’ Syndicate One joined Revent to support Powernaut, which is headquartered in Ghent.
Powernaut makes software to integrate decentralized devices, such as solar panels, electric vehicles, batteries and heat pumps, with the electricity grid.
The company was founded in January 2024, but has moved quickly to carve out a corner in the market around Europe’s efforts to tackle grid constraints issues. The software balances local generation with the needs of the electricity grid.
The startup partners with companies that manage more than 200 MW of decentralized energy assets. The portfolio includes Dutch EV company Powered by Zeno, Dutch energy management platform Harmony Energy, Belgian plug-and-play home battery manufacturer MyGrid and network stability software specialist Nox Energy.
“This investment comes at a perfect time,” says Henrik Grosse Hokamp, partner at Revent. “Powernaut provides the technology needed to support decarbonization, renewable energy deployment and decentralization, ultimately phasing out polluting energy sources such as gas-fired power stations.”
Florentijn Degroote, CEO of Powernaut, said that installing renewable energy without proper network planning causes problems.
“Navigating the energy transition is a tough challenge, especially as so many renewable energy sources are being installed without much coordination,” he said. “Unlike traditional power stations, solar panels and wind turbines are dependent on fluctuating weather conditions, making our energy production increasingly unpredictable. To effectively add more renewables and keep costs down for everyone, we need to effectively coordinate these smart, connected devices – and software and AI are essential.”
Serge Morel, co-founder and CTO of Powernaut, claimed that the company’s decentralized system has the potential to save consumers and businesses across Europe more than €300 billion annually, while reducing CO₂ emissions by millions of tonnes annually.
“It is crucial that our investors are on board – they share our mission, provide capital and bring valuable expertise by backing Europe’s leading unicorns,” he said. “Their support will help us scale up quickly.”
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