Electricity Maps raises €5m to accelerate the data-driven decarbonization of electricity

Copenhagen-based climate-tech startup Electricity Maps raised €5m to accelerate the data-driven decarbonization of the electricity grid. The investment comes from climate-focused funds Transition and Revent.

More and more renewable energy is entering the grid, but sunshine and wind aren't alwaysavailable. This makes it tricky to balance supply with growing electricity needs. Fortunately, muchof this new demand is flexible, meaning electricity consumption can be shifted to times when cleanenergy is readily available and prices are lower. “To enable such demand flexibility”, explainsElectricity Maps founder Olivier Corradi, “data infrastructure is needed to tell billions ofgrid-connected systems when and where to consume electricity. This is where we come in.”

Read the full press release here.