{"id":1414,"date":"2018-01-24T00:00:00","date_gmt":"2018-01-24T00:00:00","guid":{"rendered":"https:\/\/www.techsparx.co.uk\/north\/uncategorized\/upside-energy-secures-funding-cloud-based-smart-grid-platform\/"},"modified":"2025-02-28T14:38:12","modified_gmt":"2025-02-28T14:38:12","slug":"upside-energy-secures-funding-cloud-based-smart-grid-platform","status":"publish","type":"post","link":"https:\/\/www.techsparx.co.uk\/north\/upside-energy-secures-funding-cloud-based-smart-grid-platform\/","title":{"rendered":"Upside Energy secures funding for cloud-based smart grid platform"},"content":{"rendered":"<p>Manchester-based smart energy startup Upside Energy has secured investment totalling \u00a35.5 million.<\/p>\n<p>The firm received the financial support to grow its team and speed up commercialisation and deployment of its cloud-based\u00a0smart grid\u00a0platform.<\/p>\n<p>Its platform aggregates the energy stored in everyday connected devices, such as\u00a0batteries\u00a0and hot water tanks, to create a virtual energy store that can be drawn on when needed.<\/p>\n<p>The company\u2019s first customer is\u00a0National Grid, which will use the technology to better balance electricity supply and demand from renewable sources.<\/p>\n<p>Businesses and homes can also save on their energy costs or earn revenue if they avoid using electricity during peak times.<\/p>\n<p>Devrim Celal, CEO of Upside Energy said: \u201cWe\u2019re trying to bring flexibility to demand side and the way we do that is, we look at assets that businesses and homes already own, electrical devices that store some form of energy\u2026 and we connect to those devices using\u00a0Internet of Things\u00a0protocols. At the right times, we can switch them on or off extremely quickly.<\/p>\n<p>\u201cThat ability to suddenly take load off the grid or put it back on gives us a unique position and that\u2019s a very valuable service for a grid operator because we help them balance supply and demand of electricity.\u201d<\/p>\n<p class=\"p1\">Upside Energy was created for the Nesta Dynamic Demand Challenge in August 2013.<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>As a finalist in the challenge, it won \u00a310,000 to develop a simple prototype and business plan for its service.<\/p>\n<p class=\"p1\">As a result of the competition, the firm won entry to the EU\u2019s\u00a0Climate KIC\u00a0acceleration programme in July 2014.<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span><\/p>\n<p>The company received the backing from a\u00a0group of investors led by Legal &amp; General Capital and SYSTEMIQ.<\/p>\n<div class=\"at-below-post addthis_tool\" data-url=\"http:\/\/www.energylivenews.com\/2018\/01\/24\/manchester-based-smart-energy-startup-secures-5-5m\/\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Manchester-based smart energy startup Upside Energy has secured investment totalling \u00a35.5 million. The firm received the financial support to grow its team and speed up commercialisation and deployment of its cloud-based\u00a0smart grid\u00a0platform. Its platform aggregates the energy stored in everyday connected devices, such as\u00a0batteries\u00a0and hot water tanks, to create a virtual energy store that can [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,21,31],"tags":[123,166],"class_list":["post-1414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cloud","category-m2miot","category-tech-sparx","tag-manchester","tag-smart-energy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Upside Energy secures funding for cloud-based smart grid platform - Regional technology news - North - TechSparx - Business technology stories in the North<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.techsparx.co.uk\/north\/upside-energy-secures-funding-cloud-based-smart-grid-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Upside Energy secures funding for cloud-based smart grid platform - Regional technology news - North - TechSparx - Business technology stories in the North\" \/>\n<meta property=\"og:description\" content=\"Manchester-based smart energy startup Upside Energy has secured investment totalling \u00a35.5 million. 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