ABB leads $10 million funding round for Gridcog

Gridcog has raised a $10 million Series A round led by ABB, with participation from Axpo, DNV Ventures, and VERBUND X Ventures, to expand software used to model storage, renewables, flexible load, and hybrid energy projects.

The London-based company’s software models generation, storage, flexible load, grid constraints, network tariffs, and market participation across the full lifecycle of a project, from initial concept to investment decision.

The platform has been used to model more than 16,000 energy projects across more than 40 countries, according to the company.

Existing shareholders AlbionVC and Clean Energy Finance Corp. also provided support in the round. Gridcog said its software is used by companies including Shell and Octopus Energy Generation.

“Renewables completely dominate new power additions worldwide, but renewables-dominant power systems need an enormous amount of flexibility,” said Gridcog CEO Fabian Le Gay Brereton. “This is where the energy transition will be won or lost, and right now flexibility is the hardest thing to model well.”

Grid connections are scarce, pushing developers toward projects that co-locate solar, wind, battery storage, and load behind a single connection, Gridcog said, adding that existing modeling tools – bespoke studies, black-box models, or in-house spreadsheets – have not kept pace with that complexity.

“The energy transition increasingly depends on projects that combine renewables, storage and flexible loads, making accurate modeling more important than ever,” said Stuart Thompson, president of ABB’s electrification service division.