Belgian startup Companion energy, based in Ghent, has secured €2.1 million in funding to support its mission of aiding industrial enterprises in reducing energy costs and emissions. The investment came from notable investors including Übermorgen Ventures, Cavalry Ventures, Entourage, and Imec.istart Future Fund.
Founded by Thomas Vyncke and Jonas Verstraeten, Companion.energy specializes in energy software designed to help European industries transition to sustainable practices while effectively managing energy expenses. “The need is high: there is a lot of potential for a frontrunner like us,” says Vyncke.
Advertisement
Innovative Solutions for Energy Efficiency
Companion energy addresses the challenges industrial companies face with energy price fluctuations, driven by the rise of renewables and a shift to electric alternatives. The company’s platform uses machine learning to analyze energy contracts and operational data, enabling real-time control over energy demand. By accurately predicting energy needs and costs, the software supports industrial players in achieving significant cost savings and sustainability goals.
“Energy prices for most large consumers don’t change just once a day but continuously,” explains Verstraeten. “With our software, we help companies reduce energy costs during times of abundance, such as sunny periods or when there is a lot of wind. This is comparable to a household where the washing machine runs at night to benefit from a cheaper night rate.”
Positive Environmental Impact
Companion energy offers two main advantages: sustainability and cost savings. Vyncke emphasizes that sustainability doesn’t always mean higher energy costs. The company’s solutions can help industrial players save 10-30% on electricity costs on average, stabilize cost fluctuations, and reduce energy-related emissions.
Expanding Reach and Influence
Since its inception in 2022, Companion.energy has partnered with notable clients such as Proximus in Belgium, Equans in the Netherlands, and VERBUND in Austria. The company aims to accelerate the Net Zero journey of large energy-consuming companies, leveraging advanced technologies to create precise energy models and optimization signals for flexible energy asset management.
Investor Confidence and Future Growth
Investors like Alexander Langguth from Übermorgen Ventures and Björn Loose from Cavalry Ventures expressed strong support for Companion.energy’s innovative approach. Langguth highlights the startup’s potential to drive the climate transition forward, while Loose underscores the practical application of advanced technology in managing energy consumption.
With this new funding, Companion.energy is poised to expand its platform’s reach, continuing to provide cutting-edge solutions that help industries manage energy demand efficiently and sustainably.
