GridBeyond

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GridBeyond
Number of employees
160 (2023)
Websitegridbeyond.com

GridBeyond is a

energy technologies, artificial intelligence (AI), real-time automation, software, and services to support the transition to net zero.[1][2][3][4][5]

History

GridBeyond was founded in 2007 by Michael Phelan and Padraig Curran as Endeco Technologies.[6][7][8][9][10] GridBeyond began commercial trading in 2010. It secured €800,000 investment from the AIB Seed Capital Fund managed by the Dublin Business Innovation Centre.[11][12] In 2011, the company developed an integrated energy management system for demand-side response services.[11]

In 2012, the company expanded its operation to Great Britain.[12] In 2014, it launched the Point Platform, an AI-powered technology platform for managing distributed and flexible energy resources.[13]

In 2016, GridBeyond secured €3.3 m in a

series A funding round led by ESB, Irish Utility.[14] GridBeyond's Point Platform was awarded Seal of Excellence by European Commission.[15]

In 2018, the company penned a partnership with Electricity North West (ENW),[16] followed by a partnership with Haven Power in 2019.[17]

GridBeyond entered the US market in 2020 with an office in

series B fundraising round led by Portuguese utility EDP as the lead investor, with other investments coming from ESB, Act Venture Capital and Total Carbon Neutrality Ventures, the venture capital arm of the Total Group.[6][14]

In 2021, it expanded its operations to Japan.[1] That year, GridBeyond recorded revenues of €25 million operating in Ireland, Britain, Japan and the US.[7] The company signed a Memorandum of Understanding (MoU) with Chiyoda Corporation in 2021.[1]

In 2022, the company entered the Australian market.[19][20] GridBeyond secured €6 million in debt financing from Claret Capital in 2022 to aid expansion.[7][21][22] The company also partnered with Energy Transition Europe Fund to develop a pipeline of behind-the-meter battery storage projects across the UK and Ireland.[23]

In 2023, it acquired the energy business of Nasdaq-listed company Veritone Inc Energy Business to strengthen its position in the US market.[7]

Operations

GridBeyond operates in the field of demand response and energy management. It uses its intelligent energy optimizer, a technology designed to connect and synchronize load, generation, and storage assets to address the integration challenges between distributed energy resources and the demands of the power grid.[1][7][24][2][25][4][26]

The company has offices in Dublin (Ireland), Cork (Ireland), London, Sydney, Toronto, Yokohama and Houston and operates in Ireland, the United Kingdom, the United States of America, Canada, Japan and Australia.[7][27][28][29]

Michael Phelan is a CEO and chairman of GridBeyond.[30]

References

  1. ^
    ISSN 0140-0460
    . Retrieved 2024-02-26.
  2. ^ a b Jones, Benji. "These 3 little-known industries worth a combined $245 billion are quietly shaping the future global energy economy". Business Insider. Retrieved 2024-02-26.
  3. ISSN 2071-1050
    .
  4. ^
    ISSN 0301-4215
    .
  5. ^ "EDP prepara un proyecto piloto para que las renovables sean compatibles con el sistema eléctrico". Cinco Días (in Spanish). 2021-06-14. Retrieved 2024-02-26.
  6. ^ a b "Smart energy company GridBeyond raises €10.5m". The Irish Times. Retrieved 2024-02-26.
  7. ^ a b c d e f "GridBeyond snaps up Nasdaq-listed Veritone's energy business". www.businesspost.ie. Retrieved 2024-02-26.
  8. ^ "GridBeyond Planning Forty New Hires - Business Plus". 2018-06-06. Retrieved 2024-02-26.
  9. ^ "House prices, smart energy and an update from the maritime industry". Sky News. Retrieved 2024-02-26.
  10. ^ "Meet our Elevation Award finalists: GridBeyond, future-proofing energy systems of tomorrow". Business & Finance. Retrieved 2024-02-26.
  11. ^ a b Journal, Energy Storage (2022-04-28). "VPP tech firm GridBeyond moves into Australian market". Energy Storage Journal. Retrieved 2024-02-26.
  12. ^ a b "Batteries International, Issue 123 - Spring by hamptonhalls - Issuu". issuu.com. 2022-06-01. Retrieved 2024-02-26.
  13. ^ "Greener Aluminiun Guide June 2021 by Quartz Business Media - Issuu". issuu.com. 2021-05-26. Retrieved 2024-02-26.
  14. ^ a b Topalov, Milan (2020-01-23). "GridBeyond secures investment from ESB and Total in latest £9m funding round". Current News. Retrieved 2024-02-26.
  15. ^ Marriott, Niamh (2017-07-10). "Endeco Technologies awarded 'Seal of Excellence' by EU's largest ever research and innovation programme – Horizon 2020". Energy Sustainability Solutions. Retrieved 2024-02-26.
  16. ^ Topalov, Milan (2018-12-17). "ENW pens DSR partnership with GridBeyond to expand C&I customer offering". Current News. Retrieved 2024-02-26.
  17. ^ Topalov, Milan (2019-01-29). "Haven Power pens DSR contract with GridBeyond to target business customers". Current News. Retrieved 2024-02-26.
  18. ^ Buckley, Kyra (July 19, 2023). "AI firm GridBeyond expands presence in Houston, U.S. with latest acquisition". houstonchronicle.com. Retrieved 2024-02-26.
  19. ^ "GridBeyond opens Australian headquarters in Sydney". The Irish Advantage. 2023-05-31. Retrieved 2024-02-26.
  20. ^ Jones, Jonathan Spencer (2022-04-25). "GridBeyond launches operations in Australia". Smart Energy International. Retrieved 2024-02-26.
  21. ^ "Claret Capital buys into Irish energy distribution start-up". www.independent.ie. 2022-10-10. Retrieved 2024-02-26.
  22. ^ "EDP investe 6 milhões em empresa que otimiza consumo de energia". www.jornaldenegocios.pt (in European Portuguese). Retrieved 2024-02-26.
  23. ^ Colthorpe, Andy (2022-03-01). "Triodos turns to financing UK commercial and industrial battery storage for GridBeyond". Energy-Storage.News. Retrieved 2024-02-26.
  24. ^ "米インフラ投資1兆ドル 新興テックが活躍する4分野". 日本経済新聞 (in Japanese). 2021-11-19. Retrieved 2024-02-26.
  25. S2CID 189926643
    .
  26. ISSN 0142-0615
    .
  27. ^ Matyjaszek, Harry (2022-04-21). "GridBeyond launches operations in Australia". Energy Live News. Retrieved 2024-02-26.
  28. ^ Topalov, Milan (2021-08-04). "GridBeyond takes 'significant step' in global growth expanding into Japan". Current News. Retrieved 2024-02-26.
  29. ^ "GridBeyond launches operations in US". www.spglobal.com. Retrieved 2024-02-26.
  30. ^ "Unlocking flexibility key to decarbonizing UK power grid". spglobal.com. 25 May 2021. Retrieved 2024-02-06.
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