Gryd Energy, the solar technology that has yielded the ‘first real’ solar subscription of the UK, has raised £ 1 million to finance its national expansion.
The GRYD subscription model sees the company fund and maintains a PV system on the roof for its 25-year lifespan, giving homeowners access to the renewable energy generated for a fixed monthly price.
Investors in the pre-seed financing round were the founder and CEO of energy storage developer Penso Power Richard Thwaites. GRYD said it is planning to use the collected funds to invest in hiring, securing further energy imports and export partnerships and expanding the company’s service to offer flexibility services.
The financing comes after a successful pilot was tested for three houses in St. Ives, Cornwall, who saw an installation with a capacity of 11.5 kWp meets 70% of the energy demand of residents. Extra energy generated from the solar panels is sold by export agreements that GRYD has set up with national energy suppliers.
Shortly after announcing the test, GRYD signed a Power Purchase Agreement (PPA) with export with renewable energy supplier and service provider Good Energy, which has just been taken over by Smart Grid Technology company Esyasoft established in Dubai. The deal was first a UK; It is designed for a portfolio of domestic properties and is not dependent on the use of the same supplier for exporting and importing energy.
Gryd said that it has already committed “different projects” commercially and that it will be deployed in the national houses in the national houses in 2025, and is aimed at scaling its service to 30,000 new -build houses in the next three years.
Mohamed Gaafar, CEO and co-founder of Gryd, said: “With around 250,000 new houses that are built in the UK every year, the unadvived solar potential of our residential roofs is enormous and only continues to grow as the urgent need to do it To ensure that the new housing stock of Great Britain is future-proof and prepared for a clean, energy-efficient future. “
The growth of good energy
The PPA with GRYD was only one of the partnerships of Good Energy announced in the past year, with the company getting 100% of both solar installer Energy and Amelio Solar, a solar installation company, in Lincolnshire in Lincolnshire, in two individual transactions in October 2024.
Good energy has expanded its assets in decentralized energy services by expanding its geographical presence on the market for solar installation. The legal announcement of the company about the buy -out of Esyasoft follows one Unsolicited takeover bid done in October.
Esyasoft uses Artificial Intelligence (AI) technologies in a network of charging stations for electric vehicles (EV), measuring systems and software packages, but is on the way to a smart ‘energy as a service’ company that covers a wide range of services for its customers .
Bipin Chandra, CEO and founder of Esyasoft Holding, said about the acquisition: “We have a strong track record of supporting companies involved in critical energy infrastructure and climate technologies, and that is why our portfolio of services is very complementary to good energy.”
The full article about the acquisition of Esyasoft is Available on our sister site, Power ±.
