Press release
Frequenz, an AI platform for autonomous energy management, has closed a €10 million follow-on financing round. Cape Capital, SET Ventures, Enkraft and existing investors participated in the round bringing Frequenz's cumulative total funding to over €25m.
Founded in Berlin in 2019, Frequenz optimally positions corporate & industrial (C&I) electricity customers for the volatile energy markets of today. Allowing customers to better manage risks, reduce energy costs by up to 30% and cut CO2 emissions.
Frequenz transforms previously passive electricity consumers into active energy market participants, disrupting the way decentralized, renewable energy is produced, consumed, stored and traded. The platform equips C&I energy users with the tools and technology to succeed in the new energy world. Regardless of whether C&I customers rely on classic full-service electricity supply agreements, their own on-site PV and battery storage or green PPAs from wind farms, the Frequenz platform combines it with market access to ensure every KWh is optimized in real-time.
This funding round comes at a period of explosive growth for the company. With energy markets becoming increasingly volatile and renewable energy integration a priority for businesses, the demand for AI-driven energy management solutions is surging. Over the last 12 months, Frequenz has grown the total energy under management on its platform by 5x with more than 150 locations live.
"The team has executed flawlessly this year as we scaled and commercialized our offering. As more companies transition from a passive consumer role to an active prosumer one, there is an increasing need for a tech stack that manages and optimises self-production, asset monitoring as well as real-time market access. With this additional €10 million funding we will continue to enhance the Frequenz platform to build the technology layer for the energy system of the future. We are just getting started." said Thomas Nicolai, Co-founder and Managing Director of Frequenz.
Over the last 12 months, Frequenz has grown the total energy under management on its platform by 5x with more than 150 locations live.
Dr. Till Stenzel, Partner at SET Ventures adds: “The past two years have brought home the message to every business that you cannot stay passive in today’s energy markets. Frequenz is perfectly positioned to help companies adapt to the challenges of the new energy market environment, and we look forward to working with Thomas and the team to grow Frequenz into a leading energy management platform for business.”
Frequenz Media Contact
Carlos de Brito
Head of Marketing
