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 announced today that it has secured £545,000 in seed funding to expand operations, build out the senior management team and run a large scale pilot with National Grid.
Upside exceeded its target raise of £500,000 from ClearlySo’s extensive network of high-net-worth angel investors, along with support from industry leaders such as Ian Marchant, former CEO SSE, and Chris Joly from Vitol.
Innovate UK has awarded £2.9m towards a £4m ICAX led consortium, including Upside Energy, to build a Balanced Energy Network at London South Bank University to demonstrate innovations in integrated energy supply chains.