Legal & General Capital, the principal investment arm of Legal & General Group, and SYSTEMIQ, a purpose driven investment and advisory firm established in 2016 to tackle system failures, have co-led the Series A investment in Upside Energy (“Upside”).
Upside Energy are delighted to announce that BEIS and Innovate UK have awarded £2.5m to a consortium led by Upside.
Innovate UK has supported Upside Energy from the beginning, from startup with an initial grant allowing us to employ our first member of staff through to providing access to business mentoring and connecting us to customers.
To find out more, read the full case study on Gov.uk
Following success at the regional finals in March, UK-based start-up Upside Energy has beaten over 130 competitors to be named national winner of the prestigious 2017 Shell Springboard programme at an event in London on 6 April. The award, worth a total of £150,000, was made in recognition of the groundbreaking work Upside Energy is doing using cloud technology to smooth the flow of energy across the electricity grid.
Next generation AI techniques for energy demand response
Upside Energy and Heriot-Watt University have been awarded a Knowledge Transfer Partnership (KTP) grant by Innovate UK to maximise the opportunities presented by the emerging energy demand response market.
The project will use machine learning, and distributed artificial intelligence methods to manage a portfolio of storage assets to provide real-time energy reserves to the grid.
Upside were recently announced as one of the winners of EDF Blue Lab, EDF Energy’s innovation accelerator, created to harness the latest technologies, developing energy services and testing the new business models of tomorrow.
Upside Energy has won the Smart Grid Technology of the Year and come Highly Commended in the Technology of the Year award, sponsored by Innovate UK, at the 2016 BusinessGreen Technology awards in London.
Upside Energy has been named on the Global Cleantech 100 (GCT100) Ones to Watch list.
Dr Graham Oakes, Founder and CEO of Upside Energy, said: “Making the Global Cleantech 100 Ones to Watch list is great recognition for the progress we’ve made over the last year.”
In 2015, the UK’s innovation agency, Innovate UK, awarded £472k under the Localised Energy Systems competition to a consortium led by Upside Energy Ltd to build a cloud service that will help reduce the cost of energy in the UK while also reducing the environmental impact of energy generation.
The 18-month project was completed in September 2016. The consortium partners, including Upside Energy, Sharp Laboratories of Europe, The Schools of Mathematics and Electrical and Electronic Engineering at the University of Manchester and Enlight, are currently planning follow-on activities and partnerships, including ongoing participation in the revenue generating cloud service.
Upside Energy have just been announced winners of the 2016 Innovation Competition at edieLive, the energy, sustainability and resource efficiency conference held at the NEC Birmingham 17-18 May.