Key Takeaways
- Gridcog raised $10 million in a Series A round led by ABB Electrification Ventures, with participation from Axpo, DNV Ventures, and VERBUND X Ventures.
- The funding will support Gridcog’s European expansion and product development, addressing regulatory shifts in energy.
- Gridcog’s platform replaces spreadsheets with cloud-based scenario modeling, helping stakeholders assess financial and carbon impacts of energy projects.
- The company has modeled over 16,000 energy projects and operates in more than 40 countries, now headquartered in London.
- ABB and DNV Ventures will collaborate with Gridcog to enhance energy project implementation and advisory services.
Energy modeling start-up Gridcog, has closed a $10 million Series A round led by ABB Electrification Ventures, with participation from Axpo, DNV Ventures and VERBUND X Ventures. Existing shareholders AlbionVC and the Clean Energy Finance Corporation (CEFC) also took part in the oversubscribed round.
The raise brings four major energy companies onto Gridcog’s cap table as strategic investors — a notable structure given that competitors of these same investors also rely on Gridcog’s platform for project modelling and investment decisions.
Gridcog’s software replaces spreadsheet-based analysis with cloud-based scenario modelling, simulation and optimization, giving developers, utilities, independent power producers, and commercial and industrial customers a transparent view of both the financial case and carbon impact of a project before capital is committed. The company says its platform has modelled more than 16,000 energy projects across more than 40 countries to date.
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The new capital will fund Gridcog’s European expansion, selective entry into new markets, and continued product development, as regulatory shifts — including hybridisation rules in Spain and Germany and emerging battery storage roadmaps — raise the bar for detailed pre-feasibility studies ahead of investment decisions.
Fabian Le Gay Brereton, CEO and co-founder of Gridcog, commented:
“Most modelling tools ask you to trust a number you can’t trace. Gridcog does the opposite: every assumption is visible, every result goes down to the interval, and it’s all backed by rigorous deterministic computational modelling and mathematical optimisation.”
As part of the round, ABB’s Electrification Service division will pair its energy advisory and microgrid engineering expertise with Gridcog’s modelling capabilities, aiming to help commercial and industrial customers move faster from concept to implementation on integrated, service-led energy projects. DNV Ventures is separately deepening its role as a data and advisory partner, engaging with project developers earlier in the lifecycle using Gridcog’s platform alongside DNV’s Solcast data.
Stuart Thompson, President of ABB’s Electrification Service division, commented:
“The energy transition increasingly depends on projects that combine renewables, storage and flexible loads, making accurate modelling more important than ever.”
Founded in Australia in 2020, Gridcog is now headquartered in London with additional offices in Berlin, Madrid, Perth and Melbourne. The company is led by CEO Fabian Le Gay Brereton and CPO Pete Tickler (co-founders), alongside CTO Matt Ryan and CCO Genna Boyle.
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