€ 10 mln for Dutch climate scale-up Gradyent to make heat networks more efficient and sustainable
Dutch climate scale-up Gradyent raises €10 million to make heat networks more efficient and sustainable. Heat networks currently lose a quarter of their heat on an annual basis. This problem is becoming even more urgent with rising fuel prices and the strong need for CO2 reduction. Gradyent has developed software that helps heat companies to optimize their heat networks and reduce CO2, so that they can continue to provide affordable and reliable heat. Gradyent is now raising €10m in a Series A investment from existing investors Capricorn Partners, ENERGIIQ and Helen Ventures and new investor Eneco Ventures.
Two major heat companies in Northern Europe (and also customers of Gradyent) are showing through this investment that there is a great need for the Gradyent software: Helen, the Helsinki energy company with 600,000 users, and Eneco, the largest heat supplier in the Netherlands with over 140,000 users and a Gradyent customer for 3 years. About 90% of Helsinki’s heat demand is provided by the heat network and about 600,000 inhabitants of this city live in an apartment heated by it.
Heat grids now lose 25% of their heat annually
More than 25% of global energy consumption comes from heating and cooling buildings. On an annual basis, heat grids lose about a quarter of their heat, while fuel prices rise and calls for CO2 reduction grow stronger. Heat networks often run on outdated software and the transformation to integrated energy systems with local sustainable sources makes it even more important to have the right software systems.
Gradyent solution helps companies save 20% heat loss
Gradyent enables heat companies to optimize their systems and reduce CO2 so they can deliver affordable and reliable heat. Gradyent, founded in 2019 and based in Rotterdam, has developed software based on Digital-Twin technology. This involves creating a digital copy of the physical heat system by combining geographical, weather and sensor data with physical models and AI. The Digital Twin makes it possible to optimize the heat system in real time and to run simulations of future situations. As a result, Gradyent is helping heat companies save, on average, 20% in heat loss, reduce CO2 emissions by 10% and reduce heating costs by 5-10%.
“Eneco is delighted with the investment in Gradyent. The acceleration of renewable heat is one of the important pillars of our One Planet ambition to be climate neutral by 2035, together with our customers. Eneco has been a long-time customer of Gradyent and with this investment wants to further deepen the relationship and continue to share knowledge with a unique and leading technology company in the field of heat networks,” said Robert Blom, Investment Director Eneco Ventures.
“It is our mission to make heat grids future-proof. On the one hand, with the Gradyent Digital Twin we increase the efficiency of existing systems, on the other hand we accelerate the transition to more sustainable systems,” said Herve Huisman, CEO Gradyent.”