- Cleantech start-up Grid Edge has closed a new £2m funding round with participation from Aston University, among others
- The funding will accelerate the company’s mission to reduce the carbon footprint of the built environment
- Grid Edge was founded in 2017 by three members of the university’s Energy and Bioproducts Research Institute (EBRI) – Tom Anderson, Dan Wright and Jim Scott
Aston University’s chief operating officer has welcomed a new funding agreement between the University, bp ventures, and Goldacre (part of the Noé Group) and cleantech start-up Grid Edge.
Grid Edge was founded in 2017 by three members of Aston University’s Energy and Bioproducts Research Institute (EBRI) – Tom Anderson, Dan Wright and Jim Scott. Itworks with building operators to lower carbon footprints, reduce energy costs and maximise comfort for tenants and visitors by utilising artificial intelligence.
The £2 million injection will accelerate the company’s mission to reduce the carbon footprint of the built environment, building on its partnerships partnerships with major British property development and investment company Hammerson PLC and the Royal Opera House.
Neil Scott, chief operating officer at Aston University, said:
“This is wonderful news for all parties involved and is further testament to the work being done at Grid Edge.
“I look forward to continuing my work within Aston University and the Grid Edge board in working towards a net-zero world through collaboration and innovation. It is something we are all proud to be part of.”
Tom Anderson, co-founder at Grid Edge, said:
“This funding round further strengthens our collaboration with bp, Goldacre and Aston University, who have shown equal ambitions in accelerating the growth of Grid Edge.
“Optimising energy demand to reach net zero is now an essential requirement for businesses. We are proud to provide many leading companies with predictive AI technology to reduce energy consumption and save money.”
“Grid Edge unlocks flexibility in commercial buildings to advance to a green electric future, as seen with its partnership with Smartest Energy and Marubeni.
“The additional funding recognises the value and growth that Grid Edge has continued to deliver despite the significant impact of the pandemic on its core market, including shopping centres, airports and universities. The funding provides a platform to scale up and mature the business over the next 18 to24 months. It will enable the company to reach more customers, develop new products and further grow its skilled team.”
- Notes to Editors
Founded in 1895 and a University since 1966, Aston is a long established university led by its three main beneficiaries – students, business and the professions, and our region and society. Aston University is located in Birmingham and at the heart of a vibrant city and the campus houses all the university’s academic, social and accommodation facilities for our students. Professor Alec Cameron is the Vice-Chancellor & Chief Executive.
Aston University was named University of the Year 2020 by The Guardian and the University’s full time MBA programme has been ranked in the top 100 in the world in the Economist MBA 2021 ranking. The Aston MBA has been ranked 12th in the UK and 85th in the world.
For media inquiries in relation to this release, contact Sam Cook, Press and Communications Manager, on (+44)744691 0063 or email: firstname.lastname@example.org
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