Orus Energy Revolutionizes Energy Grid with €2.2M Funding
July 5, 2024, 3:32 pm
Orus Energy
Total raised: $2.38M
Orus Energy, a Paris-based energy flexibility platform, has recently made waves in the industry by securing a substantial €2.2 million pre-seed round of funding. This financial boost is set to propel Orus Energy towards its ambitious goal of transforming the power grid and decarbonizing energy consumption.
At the core of Orus Energy's innovative approach lies the concept of utilizing buildings as thermal batteries. By harnessing the aggregated flexibility of numerous buildings, Orus Energy's software dynamically adjusts energy usage, strategically shifting it to times when electricity is both cheapest and greenest. This not only optimizes cost for consumers but also provides invaluable flexibility to the electricity grid, helping to balance production and consumption more effectively.
One of the key strengths of Orus Energy's platform is its utilization of machine learning technology. By analyzing data and predicting electricity consumption patterns, the platform can intelligently control a range of energy-consuming assets within buildings, such as heat pumps and thermostats. This dynamic demand response system interfaces with control systems at scale, allowing for the seamless shifting of power demand without compromising occupant comfort.
The recent funding round, led by prominent European venture capital firm b2venture and top French impact funds Asterion Ventures and Ring Capital, is a testament to the industry's confidence in Orus Energy's mission. Additionally, the round saw the participation of several angel investors, including industry veterans Pierre Trémolières and Myriam Maestroni, further solidifying Orus Energy's position in the market.
Co-founder Alexandre Girard expressed the company's mission succinctly, stating, "Orus Energy's mission is to enable decarbonized power grids through consumer involvement." This vision is further echoed by Fanny Sauvée, co-founder and COO, who highlighted the increasing pressure on the power grid due to the rise of intermittent renewable energies and the electrification of various sectors.
In the evolving energy landscape, demand-side flexibility has emerged as a crucial component of the transition to a resilient energy system that fully integrates renewables. Orus Energy's platform offers a scalable solution for commercial buildings, which account for a significant portion of peak electricity consumption. By unlocking the potential for flexible power in these buildings, Orus Energy aims to make a substantial impact on the energy transition.
Since its commercial launch in 2023, Orus Energy has garnered significant attention and adoption from commercial and office building owners, as well as facility managers. Notable clients such as IKEA and La Poste Immobilier have already implemented Orus Energy's solution, showcasing the platform's effectiveness and potential for widespread adoption.
Looking ahead, Orus Energy's focus remains on developing new high-impact features and expanding its customer base. With plans to build a 20-person core team by the end of 2025, Orus Energy is poised to continue its trajectory towards revolutionizing the energy grid and driving meaningful change in the industry.
At the core of Orus Energy's innovative approach lies the concept of utilizing buildings as thermal batteries. By harnessing the aggregated flexibility of numerous buildings, Orus Energy's software dynamically adjusts energy usage, strategically shifting it to times when electricity is both cheapest and greenest. This not only optimizes cost for consumers but also provides invaluable flexibility to the electricity grid, helping to balance production and consumption more effectively.
One of the key strengths of Orus Energy's platform is its utilization of machine learning technology. By analyzing data and predicting electricity consumption patterns, the platform can intelligently control a range of energy-consuming assets within buildings, such as heat pumps and thermostats. This dynamic demand response system interfaces with control systems at scale, allowing for the seamless shifting of power demand without compromising occupant comfort.
The recent funding round, led by prominent European venture capital firm b2venture and top French impact funds Asterion Ventures and Ring Capital, is a testament to the industry's confidence in Orus Energy's mission. Additionally, the round saw the participation of several angel investors, including industry veterans Pierre Trémolières and Myriam Maestroni, further solidifying Orus Energy's position in the market.
Co-founder Alexandre Girard expressed the company's mission succinctly, stating, "Orus Energy's mission is to enable decarbonized power grids through consumer involvement." This vision is further echoed by Fanny Sauvée, co-founder and COO, who highlighted the increasing pressure on the power grid due to the rise of intermittent renewable energies and the electrification of various sectors.
In the evolving energy landscape, demand-side flexibility has emerged as a crucial component of the transition to a resilient energy system that fully integrates renewables. Orus Energy's platform offers a scalable solution for commercial buildings, which account for a significant portion of peak electricity consumption. By unlocking the potential for flexible power in these buildings, Orus Energy aims to make a substantial impact on the energy transition.
Since its commercial launch in 2023, Orus Energy has garnered significant attention and adoption from commercial and office building owners, as well as facility managers. Notable clients such as IKEA and La Poste Immobilier have already implemented Orus Energy's solution, showcasing the platform's effectiveness and potential for widespread adoption.
Looking ahead, Orus Energy's focus remains on developing new high-impact features and expanding its customer base. With plans to build a 20-person core team by the end of 2025, Orus Energy is poised to continue its trajectory towards revolutionizing the energy grid and driving meaningful change in the industry.