Context
Founded in 2007, GridBeyond (formerly Endeco Technologies) provides demand-side response (DSR) technology that optimizes energy for generators and commercial & industrial (C&I) customers.
GridBeyond’s proprietary software platform enables customers to extract maximum value from their energy assets through intelligent multi-market optimization.
The team has a track record of consistent financial performance and growth in its energy asset portfolio, with over 350 C&I sites, and opportunities to expand globally.
GridBeyond’s growth is set against a market in which growing renewables penetration is creating a need for smart solutions to balance supply and demand, and where customers are seeking to optimize their energy assets.
This funding round will enable GridBeyond to leverage its technological leadership and expand geographically.
About GridBeyond
Founded in 2007, Ireland-based GridBeyond works in partnership with grid operators in the UK & Ireland to deliver solutions to energy challenges through technology. Since launch, GridBeyond has successfully deployed their award-winning platform at over 350 sites in the UK and Ireland, actively controlling flexible demand across a range of industry sectors including industrial, manufacturing, metals, plastics, paper, food, transport and logistics. GridBeyond is now well positioned to continue development of its leading intelligent energy & smart grid platform and drive international expansion.
Bryan, Garnier & Co advises smart energy platform GridBeyond on its Series B Capital Raise with EDP and Total
Bryan, Garnier & Co acted as Sole Financial Advisor to GridBeyond and its shareholders, successfully completing a Series B financing round that brought in leading energy industry names EDP (Energias De Portugal) and Total to provide strong strategic backing for the next phase of growth. Existing investors including Act Venture Capital and Irish government-owned energy supplier ESB also participated in the round.
Bryan, Garnier & Co worked with management to create a compelling equity story that highlighted GridBeyond’s financial performance, track record of execution, market dominance, software capabilities and growth opportunity.
Michael Phelan, CEO of GridBeyond stated, “Through their extensive market reach and follow-through, Bryan Garnier were able to bring a wide range of players to term sheet discussions, generating over EUR 40m of demand for the private placement. Bryan, Garnier & Co stood by our side through complex discussions, balancing the needs of various stakeholders and enabling a successful closing that positions the company well for a significant period of growth ahead”.
This marks another landmark transaction for Bryan, Garnier & Co’s Smart Energy practice, following the sale of a majority stake in Belgium-based Biolectric to Ackermans & van Haaren, successive private placements raising over USD 100m for Germany-based climate management company tado°, the sale of Belgium-based demand response software platform REstore to Centrica, and numerous other transaction in the space.
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