Czech energy startup Delta Green has raised €2.2 million.
Delta Green makes it possible to integrate renewable resources into the grid on a massive scale without compromising grid stability. The company is working on including households, grouped into a giant virtual battery, in grid balancing.
Delta Green can save or earn hundreds of euros annually for households equipped with photovoltaics, batteries, heat pumps, or electric vehicles.
This involves managing electricity consumption and production and planning the integration of households into grid balancing. This billion-euro market is currently dominated by fossil fuel power plants, which Delta Green aims to replace with households.
According to Delta Green's co-founder Jan Hicl:
”We have earmarked the funds for three key areas: finalising the development of software to facilitate household engagement in grid balancing, expanding our presence into Western Europe, and bolstering our team with new hires, primarily in software development."
Delta Green changed ownership at the start of the year and has since announced a successful pilot test involving household participation in grid balancing. The test is expected to be fully available by year’s end.
Tilia Impact Ventures led the funding, which included Credo Ventures and Purple Ventures.
“In order to clean up the carbon footprint of our energy sector, we need more renewable sources on the grid. But wind and sun are unpredictable and this creates energy fluctuations which must be balanced out ” said Andrew Gray, General Partner at Tilia Impact Ventures.
“Delta Green has developed a low-cost solution to this problem, and we believe that this could be a key puzzle piece in enabling more renewable energy generation and lowering the cost of electricity for everyone.”
"As our initial move, we're introducing the service to Czech households, aiming to aggregate tens of megawatts,” explains Delta Green's co-founder David Brožík.
As Delta Green expands into Europe, they'll be handling hundreds of megawatts. Therefore it's crucial to develop a robust and stable solution now, which will help replace fossil fuel sources with electricity that's currently being wasted in households.
They estimate they'll only need about 200 households per megawatt
Lead image: Prokop Čech, David Brožík, Jan Hicl, and Lukáš Beneš from Delta Green. Photo: uncredited.
