Electricity Maps Secures €5M Funding for Data-Driven Decarbonization
Copenhagen-based #climatetech company #Electricity Maps secured €5 million in funding from climate-focused funds Transition and Revent to expedite the data-driven #decarbonization of the #electricity grid.
As #renewable energy integration increases, balancing supply with demand becomes challenging due to intermittency. Electricity Maps addresses this by enabling demand flexibility through data infrastructure, guiding grid-connected systems on optimal consumption times. Their platform allows businesses to align increasing electricity demand with intermittent energy supply in real-time, offering granular data on #carbon emissions and electricity sources across 230 regions worldwide. Businesses can optimize electricity usage for cleaner and cheaper energy, benefiting sectors like AI computations, electric vehicle charging, and carbon accounting.
Major tech firms like #Samsung and #Google utilize Electricity Maps for energy usage insights and power-heavy computations during renewable-rich periods. Additionally, the app provides a public data portal used by governmental agencies and policymakers for energy transition insights. Founder Olivier Corradi anticipates scaling up with the new funding to realize their global potential.
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