Energy distribution company
Gridbeyond is a multinational company headquartered in Dublin, Ireland, specializing in the optimization and operation of distributed energy resources. Gridbeyond develops energy technologies, artificial intelligence (AI), real-time automation, software, and services to support the transition to net zero.
History.
Gridbeyond was founded in 2007 by Michael Phelan and Padraig Curran as "Endeco Technologies". Gridbeyond began commercial trading in 2010. It secured €800,000 investment from the AIB Seed Capital Fund managed by the Dublin Business Innovation Centre. In 2011, the company developed an integrated energy management system for demand-side response services. In 2012, the company expanded its operation to Great Britain. In 2014, it launched the Point Platform, an AI-powered technology platform for managing distributed and flexible energy resources.
In 2016, Gridbeyond secured €3.3 m in a series A funding round led by ESB, Irish Utility. Gridbeyond's Point Platform was awarded Seal of Excellence by European Commission.
In 2018, the company penned a partnership with Electricity North West (ENW), followed by a partnership with Haven Power in 2019. Gridbeyond entered the US market in 2020 with an office in Houston, Texas. In 2020, the company raised €10.5m in a series B fundraising round led by Portuguese utility EDP as the lead investor, with other investments coming from ESB, Act Venture Capital and Total Carbon Neutrality Ventures, the venture capital arm of the Total Group.
In 2021, it expanded its operations to Japan. That year, Gridbeyond recorded revenues of €25 million operating in Ireland, Britain, Japan and the US. The company signed a Memorandum of Understanding (MoU) with Chiyoda Corporation in 2021.
In 2022, the company entered the Australian market. Gridbeyond secured €6 million in debt financing from Claret Capital in 2022 to aid expansion. The company also partnered with Energy Transition Europe Fund to develop a pipeline of behind-the-meter battery storage projects across the UK and Ireland.
In 2023, it acquired the energy business of Nasdaq-listed company Veritone Inc Energy Business to strengthen its position in the US market.
Operations.
Gridbeyond operates in the field of demand response and energy management. It uses its intelligent energy optimizer, a technology designed to connect and synchronize load, generation, and storage assets to address the integration challenges between distributed energy resources and the demands of the power grid.
The company has offices in Dublin (Ireland), Cork (Ireland), London, Sydney, Toronto, Yokohama and Houston and operates in Ireland, the United Kingdom, the United States of America, Canada, Japan and Australia.