Sweden’s Fever Energy, a software company that enables energy asset owners to run their own virtual power plants and generate revenues with ancillary grid services, is expanding into Europe after a successful launch in its home market.
The Fever platform integrates energy assets into the grid, giving users the ability to execute capacity modeling, orchestration, reporting, and settlements, as well as predict, adapt, and optimize energy distribution, according to the company.
“Customers include several solar PV customers, typically PV asset owners that have co-located battery storage,” a company spokesperson told pv magazine
Fever's platform features several application programming interfaces (API) to enable plant integration by its customers, such as utilities, solar and wind farm owners, electric vehicle fleet owners, and battery energy storage operators. Its business model involves charging a commission on earnings from ancillary services, according to the spokesperson.
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To finance its expansion, Fever Energy raised €10 million ($10.81 million) in a seed funding round led by General Catalyst, a US-based venture capital firm, along with early investors La Famiglia, based in Germany, and Norrsken VC, an early-stage impact investor based in Sweden.
To date, Fever Energy has raised €11.6 million in capital, according to the company. Two new board members joined in tandem with the investment, namely Niek den Hollander, formerly of Uniper and Vattenfall, and Holger Lichtschläger of Global Experts Energy Consulting, formerly with Uniper and E.On.
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