January 5, 2024

Elyos Energy raises $3m seed round to build energy resilience

We are excited to announce our $3 million seed funding to launch next phase of growth.

Our $3m seed round is led by Rebel Fund; a prolific Silicon Valley fund run by a team of accomplished founders, Zeno Partners; a billion dollar swiss fund, new Climate VC fund Endgame Capital, and Y Combinator, the number 1 accelerator in the world with more than 80 unicorns in its portfolio.

Elyos Energy is helping to build a new, resilient energy system by launching energy flexibility and demand response for mass markets.

The national grid spends $4bn each year on demand response; leveraging gas peakers to manage surges of demand, in an attempt to reduce the risk of blackouts during periods of peak electricity usage. 

Balancing supply and demand on the grid will become even more important with electricity consumption set to grow rapidly as a response to the urgent need for electrification of heat, rapid adoption of EVs and growing demand for air conditioning. In addition to this, the electricity supply will become increasingly unstable as more and more of our energy comes from renewable sources.

To help balance the grid, we can either; 

  1. build significantly more supply than demand to ensure security of electricity in peak periods 
  2. build a flexible grid.

The first option is just not feasible, it’s expensive and inefficient but more obviously, because of the insufficient grid infrastructure, we already have $200bn of renewable projects sitting, waiting 10 years for connectivity to the grid, stalling the pace of net zero.

So, option two, building a flexible grid and responsive energy system, is what we desperately need to deliver the energy transition.  

Elyos Energy enables a new market to play a major role in the modernisation of the grid for the first time.

We are already moving towards flexibility, as seen in the energy retail space; energy suppliers are now launching new flexibility offerings to help reduce strain on the grid and soften the price impact for the average residential household.  

Commercial buildings make up more than 30% of the UK’s electricity consumption.  Our platform gives commercial buildings access to energy flexibility and demand response, providing the same benefits as energy flexibility for the average household.  

Our journey is just beginning.  We are excited for the next phase of Elyos Energy.

We began our journey with Elyos at the beginning of the year after working at industry giants like OVO Energy, Bulb Energy, BCG, and Goldman Sachs.  After witnessing firsthand the energy crisis of 2022 and leading teams launching multiple energy-flexibility offerings for the UK B2C market, we recognized the immense potential to bring these same innovations to the commercial market. 

We need exceptional talent. Reach out to team@elyosenergy.com if you want to help us revolutionise the energy sector.