SET Success Stories: Clir, Lumenaza, BeeBryte & AgeVolt

In this edition of Energy Start-Up Success Stories, we will highlight the major leaps that have been made by alumni SET100 start-ups Clir, Lumenaza, BeeBryte & AgeVolt!

Vancouver-based Clir has secured CAD$27 Million in series B funding

2019 SET100 start-up, Clir, develops software that maximises the performance, profitability and life-span of wind turbines. They combine machine-learning algorithms that pinpoint underperformance with data visualisation tools so that wind farm operators are provided with clear recommendations to improve their energy production.

Illustration with three people. One is watering the planet Earth, the other one planting a plant and one is standing with a tablet.
Vision. Credits: Clir Renewables

Founded in 2017, Clir has since grown steadily. They recently closed a CAD$27 million series B funding round, which was co-led by Longbow Capital Inc. and ArcTern Ventures, and included, Canada Pension Plan Investment Board (CPP Investments), BDC Capital, Active Impact Investments and Tokio Marine HCC.

This funding round will allow Clir to further develop smart products, utilising industry-wide data to evaluate technical and financial risk with more accuracy, enabling improved contractual and financing terms for owners and investors. Additionally, this round will enable the firm to accelerate Clir’s growth within the existing European and North American markets, as well as grow its presence in Latin America, Africa and Asia-Pacific.

German start-up Lumenaza GmbH raises €6.5 Million in series B round

Lumenaza has successfuly raised €6.5 million in series B funding and plan to dedicate the recent funding to further enhancing their platform and services as well as to drive their marketing efforts.

CEO and Founder of Lumenaza Christian Chudoba commented: “We’re thrilled to welcome First Imagine! and Tom Wolf as investors, strengthening our group of shareholders. We’re also grateful for the continued support from our existing investors Future Energy Ventures and IBB Ventures. This additional funding will enable us to accelerate new green energy solutions across Europe together with our existing customers and innovative utilities.”

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Lumenaza, a 2018 SET100 start-up, develops powerful software to connect producers and consumers of green distributed energy, providing everyone access to the energy market. They unlock innovative businesses models based on green distributed energy resources, accelerating new energy. Their solution enables businesses to increase core product sales and sell energy services to existing and new customers. Lumenaza’s platform significantly reduces time-to-market and cost-to-serve. They maximise value from renewable assets. They also enable consumers to benefit from knowing the clear origin of their energy and profit from innovative, individualised energy solutions.

BeeBryte awarded the solar impulse efficient solution label and expanding to Malaysia

Beebryte’s predictive HVAC control is now officially part of the 1,000 solutions bringing together positive environmental impact and financial profitability. The Solar Impulse Efficient Solution Label recognises businesses for their positive impact and is granted to innovative solutions that meet high standards of the strict assessment performed by independent experts. Recognised for reducing buildings’ energy consumption, BeeBryte’s solution automates the control of heating and cooling equipment in order to make buildings consume less energy, lower their carbon footprint, and operate in a smarter way. Using data, such as the weather forecast or buildings occupancy, it adjusts the operation set points of heating and cooling equipment in anticipation of changing conditions.

The SET Award winner 2017 has also just signed its first contract in Malaysia and will be optimising the energy performance of modern development in the heart of Kuala Lumpur. The complex comprises of several office towers, two luxury residential towers, a large retail mall, and a hotel. BeeBryte will be installing its AI-based software to deliver automated and predictive control services to the chiller plants at the 5-story shopping mall and two of the office towers. This project marks an important milestone for the energy start-up as it officially launches its expansion into Malaysia.

Slovak start-up AgeVolt raises its first strategic investment at €1.2 Million

Electric vehicle battery maker InoBat has invested €600K in the Slovak start-up Agevolt developing charging systems for EVs. Together with IPM Grup and Venture to Future Fund, the total investment adds up to €1.2 Million.

As the European governments set stricter emission targets directed to traditional combustion engines, the need for innovation of charging networks to adapt e-mobility on a bigger scale is high.

The 2021 SET100 is making the charging of electric vehicles more convenient and accessible by creating the potential for every car space owner to share chargers with the public on their own terms. The company has also developed unique charging solutions for urban residential areas with limited access to parking.

Team AgeVolt standing in front of a building
AgeVolt Team / Credits: AgeVolt

Start-up success stories: join the SET network!

Today, the SET network counts more than 400 amazing innovative start-ups. Nevertheless, supporting and collaborating with them in their journey is one of our priorities. This is why we regularly share their adventures in our SET Success Stories.

Be sure to follow us on social media to find out more about SET start-up success stories. And if you have an innovation transforming either the energy or the mobility industry, go apply for the SET Award!


Source Header: Lumenaza/Wind turbine in the valley

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