The investment is backed by three VC funds — Tilia Impact Ventures as the lead, along with Credo Ventures and Purple Ventures. The funding is earmarked to fuel the company’s expansion into Western Europe and to scale up its sustainable energy management solution for households.
“Our aim is to become a catalyst for innovation in household energy across Europe and this investment represents a significant step towards that vision,” explained Delta Green’s co-founder Jan Hicl, adding: ”We have earmarked the funds for three key areas: finalizing 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 sealed the investment deal this week with representatives of three investment funds — Tilia Impact Ventures, Credo Ventures and Purple Ventures. Tilia Impact Ventures took the lead in orchestrating this partnership, with a focus on projects addressing the biggest environmental and social challenges of our time — a mission that aligns with Delta Green’s philosophy.
“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. We’re excited to partner with them in taking this global, ” added Gray.
Delta Green stands at the forefront of innovation in the energy sector as an energy flexibility aggregator. Its solution allows 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. For households equipped with photovoltaics, batteries, heat pumps, or electric vehicles, Delta Green can save or earn them hundreds of euros annually. This involves not only managing electricity consumption and production but also the planned integration of households into grid balancing. This is a billion-euro market currently dominated by fossil fuel power plants. And it’s precisely those that the innovators at Delta Green aim to replace with households.
Delta Green has experienced a whirlwind of activity over the past four months. Following a change in ownership at the start of the year, the company swiftly announced a successful pilot test involving household participation in grid balancing, illustrating the transformative potential of their solution which is expected to be fully available by year’s end.
“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. That’s why 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.
As agreed upon by all parties involved, the financial specifics of the investment remain confidential.
