GridBeyondMonday, 23 December 2019
ByrneWallace is pleased to have acted for smart energy technology company GridBeyond in its €10.5million Series B financing round.
The funding round was led by the Portugese utility EDP - Energias de Portugal with existing shareholders ESB and ACT Venture Capital also participating along with Total Carbon Neutrality Ventures (a €400 million fund owned by Total Group). GridBeyond intends to use the new investment to scale the business further, expand in to new markets, and also intends to double its workforce over the next three years, and invest further in research and development.
The ByrneWallace team who advised on this transaction included Daniel Holohan (Senior Associate, Corporate), Emmet Connolly (Solicitor, Corporate) and Conor Moran (Solicitor, Corporate).
For more details on this transaction, please visit GridBeyond’s website or click here to see read press coverage.
Transform energy into opportunity. GridBeyond is a global leader in intelligent energy technology for industrial, commercial, institutional and utility partners. Energy users are provided the ability to manage and control demand response participation, energy performance, markets and costs via the multi-award-winning AI Point platform.
By stacking various market opportunities and programmes, GridBeyond delivers demand response revenues, enhanced savings, strengthened operations and sustainability to over 400 I&C sites worldwide, including some of the planet’s best-loved brands. Furthermore, networks and utilities are empowered to optimize electricity supply and provide value-add opportunities to their customers.
By connecting grid operators, operational load, distributed generation, storage, EV charging and utilities to integrated energy services, GridBeyond’s vision is to build a shared energy economy that delivers sustainability, resilience, affordability and adaptability through collaboration and innovation.
GridBeyond was founded in 2007 and is home to the world’s first hybrid battery and demand network. A powerful combination of technological excellence, consultative approach and unrivalled expertise means that GridBeyond partners and clients have future-proof access to energy services.