Finnish energy tech startup Capalo AI has raised €500,000 in Pre-Seed funding this week.
The company aims to make energy storage investments more desirable by optimising their usage to the most profitable markets using AI, forecasts, and real-time data.
Weather conditions make renewable energy production volatile, as it is never possible to completely accurately forecast how much electricity can be produced.
Using advanced AI, Capalo AI can optimise the usage of flexible energy assets, such as energy storage systems and electric vehicle (EV) charging stations. The technology allows the commissioning of weather-dependent renewable energy sources to grow rapidly by optimising the flexibility of the energy grid to adjust to production and demand fluctuations.
This benefits national grids and Capalo AI’s customers, as the optimal bidding strategies maintain grid balance better and maximise the revenues of customers’ assets by stacking different revenue streams.
The funding round was led by Innovestor Tech Fund, with Inventure VC also participating.