SnerpaPower secures €3.4 million in investment and grant funding
Encevo leads a €3 million seed investment alongside a €400,000 technology-development grant.
SnerpaPower reports that its software already manages more than 10 TWh of annual electricity consumption across approximately 15 Nordic industrial sites. That operating base gives the company experience with large loads whose flexibility depends on keeping production stable.
Encevo brings an energy-business perspective to the investor group as SnerpaPower moves into additional markets. The Luxembourg group operates across electricity generation, networks, supply and services, while returning investors Crowberry Capital and BackingMinds continue their support.
Use of funds
Expand into further European markets
Develop forecasting, automation and electricity-market integration
Recruit commercial, finance and technology staff