Piclo, a London, UK-based flexibility services marketplace, raised £8.3M in Series B funding.
The round was led by Future Energy Ventures and Clean Growth Fund with participation from Green Angel Syndicate, Toshiba Energy Systems & Solutions, Sustainable Future Ventures and Japan Energy Fund.
The company intends to use the funds to further strengthen its position in the UK and Europe, as well as grow its international presence in the US, and Asia-Pacific
Founded in 2013 by James Johnston, Andy Kilner and Alice Tyler, Piclo is a flexibility services marketplace provider. Its flagship product, Piclo Flex, is an independent marketplace for energy flexibility services, enabling system operators (e.g. National Grid ESO and UK Power Networks) to source energy flexibility from flexible service providers (e.g., EVs) during times of high demand or low supply.
Piclo currently supports the business-as-usual flexibility procurement in six global markets: in the UK, Distribution System Operators (UK Power Networks, SP Energy Networks, Electricity North West); and the Transmission System Operator (NG ESO); in Ireland (ESBN); in Italy (E-Distribuzione); in Portugal ( E-REDES); in Lithuania ( Energijos Skirstymo Operatorius AB (ESO)); and in the United States in New York State (National Grid).
As of 2022, the company has over 55,000 flexibility assets registered with flexibility contracts awarded totalling £57m+ with 16.6 GW of flex capacity registered and 1.1 GW of flexible capacity procured.
FinSMEs
22/03/2023