Origami Energy, a Cambridge and London, UK-based platform for the intelligent management of distributed energy assets, raised £13.7m in funding.
Backers included existing shareholders, Cambridge Innovation Capital, Octopus Ventures and two private individuals, along with a new investment from Fred. Olsen related companies.
The company intends to use the funds to move from pilot field trials to multi-site commercial deployments with a wide range of customers, focusing initially on industrial and commercial sites and to build out an energy storage asset development capability.
Led by CEO Peter Bance, Origami Energy has developed technology to monitor, communicate with and control a large distributed network of energy generating, energy using and energy storing assets connected to the electricity grid. The platform intelligently manages the capacity and modifies the flows of power at physical sites of power generation, energy demand and electricity storage by providing a marketplace where the supply and demand of electricity is matched more evenly in real-time.
The company has raised £4m of seed funding in the summer of 2014.