Today Spanish startup, Green Eagle Solutions has closed a €6 million Series A round.
Green Eagle Solutions provides an AI-powered Enterprise SaaS product to automate the operations of renewable energy assets.
Traditionally renewable energy from wind and solar is delivered intermittently according to the natural resources available at any given time.
The company’s automation platform, called ARSOS, enables renewable assets to operate 100 percent autonomously, allowing customers to implement revenue-based operations.
ARSOS can integrate multi-tech portfolios that may include dozens of wind farms, solar plants, and hydro, but also other critical elements such as energy meters, electrical substations and energy storage.
Green Eagle CEO and co-founder Alejandro Cabrera detailed:
“The volatility and complexity of today's energy markets demands a new approach to operating renewable energy assets. We eliminate some of the challenges of orchestrating these assets and simplify the work of all parties involved in the management.
Our customers can leverage this complexity with automation and optimise their business strategy."
ARSOS is now operational with over 15 GW of renewable energy capacity in Spain, which is more than 20 percent of the total installed capacity in the country, and more than 3 GW abroad.
In 2023 alone, ARSOS autonomously executed over 50,000 site curtailments and issued 40,000 commands to wind turbines.
The Series A round is led by the Energy Transition Tech Fund of A&G, along with commitments from previous investors Kibo Ventures and SET Ventures.
Juan Diego Bernal, Managing Director of A&G Energy Transition Tech Fund, said
"We believe that the technology developed by Green Eagle is unique in the market. We’re convinced that Green Eagle will be a major player in the future of the energy transition.
With this financing round, we aim to help Green Eagle scale its operations internationally".
Anton Arts, Managing Partner at SET Ventures, said:
“To SET, the success of this round shows how vital the company’s solution is in the transition to clean energy. It’s an exciting time to be involved with Green Eagle!”
With this fresh round of funding, the company will bring its AI-powered renewable asset automation platform to the rest of Europe and the USA.
Lead image: Green Eagle. Photo: uncredited.
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