As Europe pushes toward climate neutrality by 2050, the role of technology in transforming energy systems has become indispensable. Software and AI are pivotal in helping to modernize power grids, integrate renewable energy sources, and manage decentralized energy production, ultimately enhancing Europe’s sustainability goals and competitiveness.
AI and advanced software systems are now tackling the intricate challenges of energy management, such as predicting consumption patterns and stabilizing the grid. With Europe’s shift toward a diverse mix of renewable sources, including wind and solar power, these tools enable grid operators to manage vast data flows, prevent bottlenecks, and ensure stability.
In light of these advancements, here’s a look at ten European startups founded between 2020 and 2024. These energy companies are pioneering new technologies that promise to reshape energy production, management, and consumption across Europe.
1. ACCURE (Aachen, Germany)
Founded in 2020, ACCURE focuses on battery analytics, utilizing software and AI to enhance battery life and performance. Their platform continuously monitors battery health, detects early signs of issues, and helps prevent failures. This is especially valuable for sectors like automotive and energy storage, where battery longevity is crucial. ACCURE has secured €17 million in funding to continue advancing battery management.
2. Cleanwatts (Coimbra, Portugal)
Cleanwatts maximizes local energy efficiency by integrating various assets (like equipment that generates, stores, or consumes energy) into a cohesive system. Their Virtual Power Plant (VPP) software allows for the aggregation of energy loads, supporting grid balance and providing affordable, clean energy. Founded in 2020, Cleanwatts has raised €16 million to drive their community-based energy solutions.
3. Climatiq (Berlin, Germany)
Climatiq offers an API that makes CO2 emission calculations simple and automated, helping businesses integrate carbon metrics into their processes. By tapping into a comprehensive emissions database, Climatiq provides insights into the carbon impact of activities such as energy use, travel, and manufacturing. Since its founding in 2021, Climatiq has raised €7.3 million to further its mission of making carbon data accessible.
4. Emulate Energy (Lund, Sweden)
This innovative company, founded in 2020, provides a SaaS platform that allows mid-sized utilities to offer demand flexibility and manage distributed energy resources. Emulate Energy’s “virtual battery” technology aids in lowering energy bills for customers while optimizing grid performance. The company has raised €5 million to expand its solutions for efficient energy management.
5. Ogre AI (London, UK & Bucharest, Romania)
Ogre AI, founded in 2021, uses machine learning to support decision-making for energy management, including consumption forecasting and loss detection. Their platform empowers customers to make accurate market predictions and manage grid performance. The company has attracted €5.6 million in funding to develop its AI-based tools for the energy sector.
6. ProptechCore (Stockholm, Sweden)
Focused on decarbonizing buildings, ProptechCore’s DecarbAI platform leverages open data and AI to optimize building energy use. This system adapts to fluctuations in energy demand and prices, helping reduce consumption and emissions. Since its launch in 2020, ProptechCore has raised €2 million to promote sustainable and adaptable building solutions.
7. QUIXOTIC (Madrid, Spain)
QUIXOTIC offers a billing and invoicing SaaS platform tailored for renewable energy and utility sectors. By automating regulatory compliance and streamlining business processes, QUIXOTIC enables utilities to improve operations and explore new revenue opportunities. Founded in 2021, the company has raised €2 million to enhance its utility-specific software.
8. Reonic (Augsburg, Germany)
Reonic specializes in integrating renewable energy solutions, such as solar, EV chargers, and battery storage, through a unified software platform. Their system simplifies planning and management for sustainable energy projects. Founded in 2021, Reonic has raised €13 million to expand its role in the renewable energy landscape.
9. Suena (Hamburg, Germany)
Founded in 2021, Suena provides optimization and trading solutions for large-scale energy storage. Their Autopilot platform maximizes storage revenue by utilizing multiple market opportunities. By analyzing forecasts and market data, Suena helps facilitate energy storage adoption, securing €4.2 million to advance their technology.
