Granular Energy launches the world’s first market for hour-by-hour energy certificates with €2m in funding

To reflect the ‘real world’ availability of renewable energy and truly decarbonize the energy supply, there is a growing trend to commit to 24/7 carbon-free energy (CFE). Every kilowatt-hour of electricity consumption is met with carbon-free electricity sources, at every hour and at every location, verified by hourly energy certificates, which can increase transparency in clean energy and carbon accounting claims and incentivise the deployment of both renewable energy and energy storage assets.  

Initiatives such as the UN’s ‘24/7 Carbon-Free Energy Compact’ and EnergyTag (founded by Granular Energy co-founder Toby Ferenczi), as standards bodies for hourly certificates, are raising awareness around hourly energy tracking, the benefits it provides to large energy stakeholders and the measurable impact it has on decarbonizing the grid. 

This is why we are excited to back Granular’s mission to dramatically accelerate the transition to 24/7 carbon-free energy. Founded by expert industry professionals, with backgrounds in energy and financial markets, Granular Energy provides the software tools needed by corporate and utility buyers to manage hourly energy certificate portfolios, as well as a trading platform to create a fully liquid marketplace. It tackles the $4tn global electricity market, by disrupting clean energy certificates, alone worth $12bn today and set to grow to $100bn by 2030.

To deliver on its mission, Granular Energy has recently launched the world’s first market for hourly energy certificates in partnership with the European power market operator NordPool and supported by Elexon. The first phase of the market launch includes twelve large utilities, alongside large businesses such as BT, Sky and Morgan Stanley.

Through Granular Energy’s management platform, users will be able to verify, for the first time, the origin of their electricity on an hourly basis and have the option to trade these certificates to improve their level of hourly matching. Designed in compliance with the EnergyTag standard, the trading mechanism allows participation for energy storage assets so that certificates can be stored and re-issued later. 

Granular believes the use of hourly energy certificates represents a paradigm shift in the way consumers purchase green energy, with significant benefits for all carbon-intensive sectors, such as transport, industry, heating, and cooling.

Toby Ferenczi, founder of Granular explains: “By establishing a market for hourly energy certificates, Granular is helping to accelerate the shift to a carbon-free grid by harnessing consumer demand for clean energy to send a razor- sharp price signal that values renewable clean energy according to ‘real-world’ availability.

Ultimately, we think that all units of energy could be tagged and traded in this way, bringing a radical new level of transparency to wholesale power energy markets.”

On why we invested, our Managing Partner Reshma Sohoni comments:

“Financial incentives play a critical role in the transition to a carbon-free electricity system. Granular provides a complete solution for utilities, energy consumers and generators to manage their portfolio of granular certificates and facilitates a more transparent and sustainable transition to 24/7 clean energy. Toby and his team are changing the game for how energy is produced, traded and consumed.”

We are excited to support Granular’s further growth, by participating in their pre-seed round, along with Revent and Powerhouse Ventures. The startup plans to use the funding to extend its offering to utilities and large businesses across Europe and the US.

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