Today we are thrilled to announce our $1.5M pre-seed funding led by notable angel investors and energy sector experts, formerly of Goldman Sachs and Vitol.ENIAN team and investors at London HQ
This funding boost will help deliver our vision of a future where every professional has access to the world’s energy data and energy intelligence is shared across all industries.
Before announcing what’s next, let’s start with a little bit of history:
The Story of ENIAN
Who we are
When Varun Sharma and I first met at a London cleantech event back in 2016, we were already convinced that digital tech held the key to accelerating renewables.
Like many digital tech enthusiasts, we’d both independently experimented with data-driven tools to acclerate renewables development. As the second employee at BBOXX, Varun was part of the team that built early prototypes for remote monitoring and control of off-grid solar systems. As co-founder of SCENE, I had led the creation of a global community energy project-level data map and networking platform.
We bonded over wanting to solve the pain that many renewables professionals face in trying to scale commercial- and industrial-scale pipelines relying on generalist solutions like MS Teams, Excel, Dropbox and Google Maps. We knew the limitations of these tools firsthand. We knew there was a better way.
Open data meets grid parity
As solar and wind neared universal grid parity in 2017, so too did open energy data standards start emerging. When Stefan Pfenninger and Iain Staffell launched Renewables.ninja with support from the Grantham Institute, this set the stage for an explosion in open source modelling tools for everything from power output prediction to simulating power networks. As part of this community we immediately went to work solving the difficult problem of open energy data validation with machine intelligence.
High-performance computation and optical image recognition
With funding from Innovate UK, we set out to automate open energy data validation using optical image recognition. We built an on-premise high-performance computing cluster to validate a 100 million feature grid-level dataset covering 222 countries. This included solar and wind asset-level data for 164 countries. Our efforts involved making open energy data machine-readable so that it could be used more easily for machine learning applications, including predictive project-level analysis.
Combining data, intelligence and workflow into seamless UX
We then used NASA’s MERRA-2 irradiance and wind speed data to design a custom calculation engine that generates rapid AEP, IRR, NPV and LCOE forecasts from user-generated data in seconds.
We partnered with global audit and accounting firm Mazars to produce a high-level pre-tax IRR cash flow tool — allowing investors, developers and advisors to access and share a common source of truth for every project in their pipeline. While every project is different, having a common starting point for financials helps counterparties rapidly identify potential risks that they can move to quickly address.
With help from our talented UX designers we then published all the global grid and asset-level data in a searchable map and added new features to make the geospatial data easy-to-access, visualize and compare.
The combination of project-level data, geospatial intelligence and secure tools to share information empowers our customers to make faster decisions and to focus their time better on solving non-linear problems.ENIAN’s map showing irradiance, grid and asset-level data layers
ENIAN was born!
ENIAN’s platform version 1.0 was launched on June 1st 2020. It is the world’s first and only pipeline acceleration platform that enables commercial developers, investors and advisors in 222 countries to gain a competitive advantage in the way they share data and access intelligence.
The Bigger Picture: RE firms to become the new majors
Broader access to energy data and intelligence will revolutionize the way we plan, execute and finance our Renewable Energy (RE) future.
Just as oil and gas professionals were early adopters of big data analytics, RE professionals are gaining efficiency, speed, traction and scale from data-driven business models.
Where oil majors capitalized on seismic software and prediction tools to scale global operations, RE can capitalize on exponential growth of satellite images, asset-level data and machine intelligence.
ENIAN is how RE professionals plan smarter, execute faster and finance efficiently. It’s the story of how RE firms grow to be RE majors.
What does this fundraising mean for you? Only good things, if you work in the renewable energy sector:
Introducing PowerGrid API
PowerGrid AI is the only AI-driven interface designed for multinational energy companies, institutional investors, hedge funds, advisers and corporates working in C&I renewables. PowerGrid API equips analyst teams with over 100 million asset-level data points for individual renewable energy power plants and electrical grid worldwide.
PowerGrid API provides instant access to intelligence for over 55,000 operational-stage solar PV and wind power plants spanning 164 countries, including granular electrical grid data covering 222 countries. Query power plants and grid-level assets, narrow your search radius to find the nearest substations and capacity with ownership details including: kV lines, transformers, switches and compensators. Filter your search by location, technology, capacity, developer, completion date and more.
Yes, we’re hiring!
Going global as principle of software design
While every renewable energy pipeline is different and complex, a lack of efficiency in a fragmented market is a problem faced by all renewables professionals. ‘Think Big’ as a value isn’t too imaginative, but we define it specifically as ‘only building products and features that can scale globally.’ This way of thinking big has put us in a unique position as a B2B SaaS player in the renewables market — our pipeline acceleration software is built to go global. And with this new funding round, we are setting our sights on wider Europe, the US, Asia and Africa to do just that.
Backed by senior execs at leading global firms in energy and banking, ENIAN is on a mission to decentralize access to energy data and intelligence worldwide. Our flagship platform is the first B2B SaaS solution that provides all the data, intelligence and workflow tools professionals need to deliver C&I renewables at scale.