Electron, which provides the ElectronConnect software for flexibility and distributed electricity, has raised £4 million to expand in the UK, Europe, and North America.
The investment round was led by East Innovate, with participation from Riverstone, Nesta, and One Planet Capital. Electron said the funding will support Electron’s rapidly growing team, invest in further product development, and expand its international presence.
ElectronConnect, Electron’s configurable market platform, allows electricity system and network operators, renewable generators, and flexible energy consumers to optimise their use of variable renewable power and network capacity based on time and location.
Electron’s Chief Executive Officer, Jo-Jo Hubbard, said “This funding brings us the resources to scale, as well as the right partners, insight and support on that journey. We are grateful for the backing of investors who share our vision and are excited to get going.”