16 August 2022
Gradyent has raised €10 million to make district heating systems more efficient and sustainable. Heating grids still lose a quarter of their heat yearly. This problem is becoming even more urgent with the rising fuel prices and the strong need for CO2 reduction. We have developed software that helps heating companies to optimize their heat systems and to reduce CO2, so that they can continue to supply affordable and reliable heat. We have raised €10 million in a Series A funding round from existing investors Capricorn Partners, ENERGIIQ and Helen Ventures and new investor Eneco.
Two large heating companies in Northern Europe and customers of Gradyent show through this investment that there is a great need for the Gradyent software: Eneco, the largest heat supplier in the Netherlands with more than 140,000 users and Helen, the energy company of Helsinki. About 90% of the city of Helsinki is heated with district heat and about 600,000 Helsinki residents live in an apartment block heated with district heat.
More than 25% of global energy consumption comes from heating and cooling buildings. On an annual basis, these grids lose about a quarter of their heat, while fuel prices are rising and the call for CO2 reduction is getting stronger. Heating systems often run on outdated software and the transformation to integrated energy systems with local sustainable sources makes it even more important to have the right software.
Gradyent enables heating companies to optimize their systems and reduce CO2 so that they can deliver affordable and reliable heat. Gradyent, founded in 2019 and based in Rotterdam, has developed software based on the Digital Twin technology. A digital copy of the physical heat system is made, combining geographical, weather and sensor data with physical models and AI. The Digital Twin makes it possible to optimize the heating system in real-time and to run simulations of future situations, saving on average 20% heat loss, 10% CO2 emissions and 5-10% fuel costs.
“Eneco is pleased with the investment in Gradyent. The acceleration of sustainable 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 customer of Gradyent for a long time and wants to further deepen the relationship with this investment and continue to share knowledge with a unique and leading technology company in the field of heating systems,” says Robert Blom, Investment Director Eneco Ventures.
“Our mission is to make heating systems future-proof. With the Gradyent Digital Twin we can both increase the efficiency of existing systems and accelerate the transition to more sustainable systems,” says Herve Huisman, CEO Gradyent.