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The Hamburg-based battery energy trading software and services company has raised €3 million ($3.27 million) in seed funding to expand its software-driven trading services across Europe. The capital will be used to introduce the company’s software, called Autopilot, and its trading services to new markets in Europe.
Suena, which develops trading and optimization software that can serve owners and operators of battery storage and renewable energy assets, has raised €3 million ($3.27 million) in funding from European clean energy investors.
The funding will be used to further develop the Autopilot software and expand trading services in European markets including Germany, the UK, Belgium, the Netherlands and Spain.
Suena’s technology supports trading both standalone battery systems and systems co-located with solar or wind projects. “We also have customers in Germany with solar power and storage projects like EnBW and Prokon,” said Leonard Wilkening, CEO of Suena. PV magazine.
Suena said the company will also invest in further development of new artificial intelligence capabilities and expand its team.
Suena develops optimization and trading software to provide trading services to battery storage and renewable energy asset owners. The company says its latest software, called Autopilot, is designed to handle “the high complexity of efficient and strategic power trading across multiple markets.”
It can process large amounts of data, optimize trading strategies, and respond to fluctuations in renewable energy production and market prices in real time.
Aspects such as pricing and market forecasting, energy storage dispatch schedules, and when and in which markets to buy and sell energy will also be optimized across different power and balance markets.
The platform supports connecting to customers’ battery management systems, so-called energy management systems (EMS), but Wilkening says it also works with virtual power plant (VPP) providers such as Spain-based Cellect Energy. It is common to do so. or Germany-based Energykoppler and emsys VPP. “These partners specialize in managing the technical communication between trading software and battery assets,” said Wilkening.
The seed round was co-led by Smart Energy Innovationsfonds, the corporate venture capital fund of Swiss energy supplier Energie 360, and Spain-based Santander InnoEnergy Climate Fund. They were joined by early investors Vireo Ventures and Raakwark Kaptaal (both based in Germany) and his Dutch-based EIT InnoEnergy.
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