Spanish Startup Bamboo Energy Finds Funding for Electrical Innovation

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team
Published on July 27, 2021

Bamboo Energy is an institutional partner of EIT Innoenergy and also has received about $88,000 in funding from the Startup Capital line of the Catalunya business competitiveness agency ACCIÓ.

The company launched an aggregation platform for small-scale distributed energy sources based on artificial intelligence and for demand aggregators with energy optimization capabilities.

From there, it plans to coordinate electricity distributors and consumers in a system of two-way energy flows. Through a control center, Bamboo Energy connects to the electricity market to provide a variety of services.

Its platform can do things like predicting customer demand and creating flexible solutions, providing optimal strategies for energy use and alerting authorities when electricity usage increases.

Bamboo Energy is a spin-off product of the Catalan Institute of Energy Research (IREC) and is based in Barcelona, Spain. Thanks to long-term research at IREC, many companies can operate in new energy markets, consume more efficiently and generate income.

IREC co-founder and director Cristina Corchero said that the renewable energy system would not be able to reach 100% without some flexibility in demand.

She commented,

“Achieving a 100% renewable energy system is not possible without the flexibility of demand. In this sense, Bamboo Energy is an enabling agent for the transformation of the energy sector.”

In early 2021, after the market in Spain was opened, Bamboo Energy created ideas for how its platform could enter the marketplace.

Its plans include expanding its scale of personnel in the next 5 years, and it specifically intends to recruit 500 more employees and enter the wider European market in the near future.

At present, via Bamboo Energy, distributors and marketers have connections with buildings and energy assets.

Some notable names in its network are energy marketers Nexus Energía and Electra Caldense Energía, Barcelona Metropolitan Area (AMB), Andalusian Technology Park (PTA) and Europastry.

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team

Nicholas Ross Say is a news desk editor at Grit Daily. An award-winning journalist, he covers the daily startup beat. He grew up in Ann Arbor, Michigan and has lived in South America and South East Asia. At present, Nicholas lives in Southern Vietnam where the Sun shines, and the noodles flow like wine. He's written for Blockonomi and Coin Journal, among others.

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