Reel, a Copenhagen, Denmark-based renewable electricity supplier, raised €5M in funding.
The round was led by Transition with participation from UVC Partners, The Footprint Firm, Daniel Nathan and Christian Bach.
The company intends to use the funds to scale its model for B2B renewable electricity supply across Europe.
Led by CEO Jon Sigvert, Reel aims to create a new way for companies to buy electricity that accelerates the renewable energy transition by combining climate impact and direct cost savings and predictability. With Reel, companies can enter into Power Purchase Agreements (PPAs). These electricity contracts offer fixed-price electricity for greater financial stability and reduce CO₂ emissions by adding new renewable energy to the grid.
FinSMEs
24/01/2024