enspired secures € 25.5 million in Series B funding to future-proof energy systems worldwide
19 May, 2024. Despite the challenges we face on the way to net zero by 2050, we already have the most effective tool for the advancement of the energy transition at our disposal: technological innovation. enspired, a pioneer for AI-based power trading, has secured € 25.5 million in Series B funding, led by Zouk Capital, to accelerate the energy transition with grid-transforming power asset optimization. Facilitating the large-scale integration of renewable energy sources, enspired's automated and highly scalable trading infrastructure is on track to enable 50 GW of flexibility by 2035. A key focus on this trajectory is the expansion of battery storage capacity across relevant power markets worldwide to foster a sustainable electricity supply system for the future.
Profitable flexibility marketing cuts emissions and reforms energy investments
After a massively oversubscribed funding round, enspired is thrilled to have Zouk Capital on board as the lead investor, with PUSH VC, Banpu NEXT, Vopak Ventures, and Presidio Ventures acting as co-investors alongside trusted existing partners Emerald Technology Ventures, Helen Ventures, 360 Capital, and EnBW Ventures. In light of lagging international decarbonization efforts, enspired CEO and Co-founder Jürgen Mayerhofer emphasizes the global significance of the company’s optimization strategy for the energy transition:
“We are grateful to be in a position that allows us to choose partners whose ambitions and values align with our own. Our shared perspective on carbon footprint reduction and entrepreneurial expansion is intercontinental. Going global with our asset-centric trading service will make flexibility so profitable that investments are directed away from fossil fuels into clean energy. In the last year alone, we enabled over one million tons of emission savings, and this is only the beginning.”
Progressive technology ensures superior battery optimization and access to global markets
"enspired's AI-based approach to power asset optimization and the dedication to the energy transition represent precisely the type of innovation we aim to support at Zouk," comments John Higelin, Partner at Zouk Capital. "Leveraging digital technology to deliver more value for renewable energy and storage assets while improving grid stability is crucial for accelerating the energy transition. enspired's vision aligns fully with Zouk's impact mission. We are delighted to support them during this next phase of growth and look forward to working closely with the team."
Recruiting more experts and ultimately winning more customers will be essential for the success of this new growth phase. As enspired solidifies operations across Europe, a global outlook is taking shape in Asia and the United States. This expansion is supported by a versatile trading platform that adapts seamlessly to new markets, use cases, and revenue streams. High-quality customer service and a steadfast commitment to going the extra mile are hardwired into the brand promise.
"enspired shapes the energy sector in a way that echoes how large language models transformed the world of information management and processing. We will channel significant investments into the establishment of our technology as a global top-tier battery optimization engine. Reinforcement learning is ahead of all other artificial intelligence methods for solving complex practical applications and has been outperforming human reasoning in every aspect since 2017. Our proprietary technology stack is being meticulously tailored to such applications to ensure superior performance,” enspired CTO and Co-founder Wolfgang Eichberger highlights the importance of continuous technological innovation.
“As the fastest-growing battery optimizer in Europe, we are prepared to profitably market power assets worldwide. With the support of our partners, we are well on our way to becoming a leading global force in this field,” adds Jürgen Mayerhofer. “The best time to adapt to the market is before it changes.”
About enspired
The growing share of renewables in the electricity mix calls for an increase in flexibility and an expansion of battery energy storage systems to balance out the associated grid fluctuations. enspired is a pioneer for the simultaneous commercial optimization of batteries and other power assets across the wholesale, control reserve, and ancillary service markets. The company’s fully automated in-house trading platform is the fastest on the European short-term power market, enabling customers to monetize the full potential of their flexibility with minimum time-to-market.
Press contact
enspired GmbH
Sol Quantin (Social Media and PR expert) · sol.quantin@enspired-trading.com
Wagenseilgasse 3 · 1120 Vienna · Austria
www.enspired-trading.com
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