Renew Risk, a leader in risk modelling and analytics for renewable energy assets, has successfully raised £5 million in a funding round led by Molten Ventures, with participation from Lloyd’s, existing investors Insurtech Gateway, and influential angels.
The funding underscores a growing recognition of Renew Risk’s unique ability to bridge the gap between the renewable energy sector and financial markets. By pairing advanced analytics with deep industry expertise, Renew Risk provides unparalleled insights to (re)insurers, insurance brokers, bankers, developers, and asset managers into physical risks like hurricanes, earthquakes, and severe connective storms affecting renewable energy assets such as offshore wind farms and solar farms. These models enable all participants in financial markets to make data-driven decisions, ensuring more resilient and sustainable coverage and investments.
The £5 million investment will be deployed to enhance Renew Risk’s proprietary risk models suite, expand its team of risk modellers and climate experts, and extend its market reach globally.
Renew Risk has already established itself as a trusted partner within the insurance industry, where several of its clients are currently using the product. With this new funding, the company is poised to scale its impact, delivering innovative solutions at the intersection of renewable energy and risk management.
