Renewable energy analytics company QOS Energy raises €3 million

QOS Energy, a renewable energy data management company, has raised €3 million in a funding round led by ETF Partners with participation from GOCAPITAL.

France-based QOS Energy builds software analytics solutions like Quantum for managing renewable energy use by collecting and monitoring data from sensors that have been deployed in fields like solar, wind, biogas, hydro, and storage and hybrid assets.

“For our clients to get maximum value from their assets they need to make sense of an enormous amount of data sourced from their renewable portfolios,” said CEO Franck Le Breton. “This is where we come in. Using our proprietary data science technologies, such as machine learning, we transform raw datasets into data intelligence to enhance financial returns.”

QOS Energy chose ETF Partners for this investment because of the firm’s experience in renewable energy investments, he added. Its customers currently include Neoen, Conergy Services and SOLV.

Fabrice Bienfait, partner at ETF Partners, described the Quantum product as a “major breakthrough” for renewable energy operators. “The consequence of the inexorable march to distributed, renewable energy across the world is the challenge in ensuring sustained, high performance across both renewables and the grid,” he said. “Data analytics will be at the forefront of this revolution.”