Gridimp, a pioneer in smart energy solutions, secures £250,000 funding.
- The British Business Bank backs Gridimp through the South West Investment Fund.
- Funding supports Gridimp’s expansion plans, including recruitment and new office.
- Gridimp’s smart energy tech helps firms optimize energy use and join flexible markets.
- Stakeholders commend Gridimp’s innovation and potential impact on the energy sector.
Gridimp, a leading figure in the smart energy sector, has successfully secured £250,000 in funding from the British Business Bank to fuel its expansion plans. The funding, facilitated through the South West Investment Fund and managed by the FSE Group, marks a significant step forward for the Wells-based company. This financial boost will enable Gridimp to pursue recruitment initiatives and establish a new office better suited to its growing team.
The core of Gridimp’s offering lies in its innovative smart energy technology and hardware designed to empower businesses with real-time energy monitoring capabilities. By utilizing advanced AI, Gridimp allows its clients to participate in flexible energy markets, thus maximizing the value of energy consumption. The technology not only enhances operational efficiency but also supports businesses in navigating dynamic energy landscapes.
Richard Ryan, the co-founder and commercial director of Gridimp, emphasized the transformative potential of the company’s technology. He noted, “The world is moving towards renewable energy and a more efficient and robust energy grid. We are ready to lead the switch over to a modernized system of power distribution and consumption, giving added access to revenue-generating flexibility markets for businesses.”
Rob Ward, an investment manager at FSE Group, praised Gridimp’s achievements, highlighting its emergence as a market leader in a sector experiencing an essential transformation towards sustainability. He acknowledged the dedication of Gridimp’s team, comprised of engineers, data scientists, and energy experts passionate about their mission. Ward lauded the user-friendly installation of Gridimp’s technology and its valuable benefits to clients.
Paul Jones, senior investment manager at the British Business Bank, reiterated the importance of supporting businesses like Gridimp that drive advancements towards the UK economy’s net-zero transition. He highlighted Gridimp’s role in empowering businesses to make informed decisions about reducing their carbon footprint while simultaneously achieving cost savings.
Gridimp is poised for significant growth and innovation in the evolving energy sector.
