Synergi, a Finnish technology company committed to accelerating the transition to sustainable energy sources, has successfully raised €2 million in a seed funding round. This investment aims to enhance Synergi's innovative software solutions for consumers and utilities, enabling them to participate actively in flexibility markets across Europe.

The funding round was led by Greencode Ventures, a venture capital firm focused on green transition solutions, and saw participation from Vaens, a Finnish family office. Existing investors, including Lifeline Ventures, APX, and Wave Ventures, also contributed to this significant funding effort. With this fresh capital, Synergi plans to bolster its recruitment efforts and expand its reach into flexible markets in the Nordic and Central European regions.

Addressing the Energy Transition Challenge

The European Union has set ambitious targets to decarbonize its energy system through increased electrification and adoption of renewable energy sources. By 2030, electricity demand is expected to surge by 60%, posing challenges for existing grids. The unpredictability of renewable energy sources further complicates the integration process. However, household flexibility, facilitated by consumer-owned home-energy assets, has emerged as a promising solution. Virtual Power Plants (VPPs) can aggregate these assets, allowing consumers to adjust their energy consumption during peak times in exchange for incentives.

Recognizing this growing need, Synergi launched its platform in 2023, designed to encourage both households and utilities to leverage their energy assets more flexibly. The platform enables users to optimize energy usage from resources such as electric vehicles, heat pumps, and solar panels. A notable feature of this initiative is the Synergi app, which has already enabled thousands of users across Europe to reduce their electric vehicle charging costs by 50% and heating expenses by 20% annually.

Empowering Consumers and Utilities

Antti Hämmäinen, CEO and Co-founder of Synergi, highlighted the platform’s potential to transform the energy landscape. He emphasized "We want to help consumers and utilities benefit from providing flexibility to the grid. Previously, this was not possible. Soon, utilities can generate revenue from flexibility markets by aggregating loads of customer-owned energy assets on the Synergi platform and providing their customers with the Synergi app as a turnkey solution." This statement reflects the company's vision of enabling utilities to profit from flexibility markets, all while improving consumer engagement in energy management.

Ines Bergmann-Nolting, Managing Partner at Greencode Ventures, reinforced the importance of Synergi's business model. She stated, “Energy flexibility is an untapped opportunity. Synergi’s business model has the potential to bring European consumers, utilities, and grid operators together to benefit all by balancing the grid and creating resilience for the whole system.” This collaboration between various stakeholders aims to create a more robust and efficient energy ecosystem.

Plans for Future Growth

With the new funding, Synergi plans to enhance its workforce by hiring in engineering, sales, and marketing roles. The company aims to expand its operations into flexibility markets across Nordic and Central European countries, further solidifying its position in the sector. This expansion strategy is not merely about increasing the number of branches; it also focuses on strengthening the company’s technological infrastructure and enhancing the overall customer experience.

Synergi's long-term vision includes the ambition to build the largest network of virtual power plants in Europe. The firm is set to leverage its recent investment to broaden its product offerings and explore new revenue streams, while also facilitating a seamless interaction between decentralized energy resources (DERs), utility companies, and flexibility markets.

As the energy landscape evolves, Synergi is positioning itself at the forefront of the transition towards a sustainable and flexible energy system. By empowering both consumers and utilities to participate in flexibility markets, the company is not only contributing to the decarbonization of the energy sector but also fostering a more resilient grid. With the recent funding boost, Synergi is well-equipped to expand its reach and impact, paving the way for a greener energy future across Europe.