Renewabl, established in 2023 to develop a data-driven platform for streamlined and verified clean energy procurement, has announced a substantial multi-million-pound investment round led by Finnish clean energy investor Helen Ventures. This seed funding round also includes backing from Encevo Group, Toyota Ventures, Nesta, Enery, and reinvestment from PortfoLion and QVentures, alongside continuous support from South Pole.
Research indicates that businesses procuring and optimising renewable energy integration not only enhance grid stability and operational efficiency but also support up to a 20% reduction in Scope 3 emissions. Despite those benefits, the route to buying and integrating carbon-free energy into commercial operations through renewable energy attribute certificates (EACs) has historically been complex and opaque, leading to reduced procurement. With more stringent ESG guidance and regulations emerging, greater transparency is required to build confidence and enable businesses to easily match clean energy production to their specific consumption needs.
Renewabl’s advanced technology platform addresses this need by enabling corporate end-users to trace renewable energy to its source of generation and trade temporal-matched EACs that align with their consumption with up to hourly precision. The platform utilises smart algorithms to optimise corporate portfolios, highlighting the most impactful clean energy products available. This also empowers companies to gain deep insights into their emissions and Carbon-Free Energy (CFE) scores to help them develop targeted mitigation strategies.
The additional funding will enable Renewabl to deepen its technology solutions, expanding its offering into Spain, Italy, France and Germany, and to accelerate the development of two pivotal components:
- Renewabl Track: An advanced SaaS platform for visualising and assessing consumption data and renewable energy portfolios. This climate management and accounting software focuses on energy, hourly CFE score, and Scope 2 and 3 emissions.
- Renewabl Trade: A cutting-edge tendering platform and marketplace enabling companies to procure optimal and impactful renewable energy temporal-matched products directly from suppliers & power producers.
The previous round of investment in 2023, backed by South Pole, PortfoLion, and QVentures, allowed Renewabl to deploy a state-of-the-art digital platform for time-stamped, location-based green energy certificates to ensure traceability to the source.
It is our privilege to join the Renewabl team in their impressive growth story. Consuming clean electricity that matches on an hourly or 15-minute basis is fast becoming an imperative for net-zero-aligned companies – with good reason – whereas tracking and procuring this energy is a challenge.
Mikael Myllymäki, Vice President of Helen Ventures
We’re impressed by the expertise of Renewabl’s founding team and their approach to optimising clean energy procurement. Renewabl’s software platform and marketplace are key stepping stones on the path to offering impactful and traceable solutions for strengthening the claims of renewable energy credits and the realisation of a true zero-carbon electricity grid.
Lisa Coca, Climate Fund partner at Toyota Ventures
Our Venture Capital unit has started to assemble and continues to scout for a comprehensive set of solutions helping our business to build flexible, efficient, and ultimately shorter bridges between our consumers and green power generation sources. Renewabl rightly sits in that picture, providing important middle-link, pivotal capabilities, and we are thrilled to explore how to blend best with our in-house skillsets.
Nicolas Milerioux, Head of Venture Capital of Encevo
Our investment in Renewabl reflects their potential to support more enterprises in adopting renewable energy to power their business – bringing much-needed transparency and innovation to the renewable energy certificate market. Renewabl's approach can expand access to this market and help more companies speed up their transition to net zero cost-effectively and in a way that regulators can verify.
Alex Hook, Investment Director at Nesta
Renewabl is accelerating the adoption of renewables through an advanced technology platform that enables businesses to analyse their clean energy portfolio and trade temporal-matched solutions based on their consumption profile. The company was founded in 2023 by Juan Pablo "JP" Cerda, with extensive experience at BP, Shell, and ED&F MAN, alongside Nick Martyniuk, formerly of WePower in Australia. The team's combined 80+ years of experience in clean energy, coupled with significant headcount growth over the past year, positions Renewabl to attract top talent and drive industry-leading advancements.
