SMPnet
A UK-based company, actively involved in the Electrical Power System industry that offers solutions that span over a wide portfolio of services.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $1.4m | Seed | |
| Total Funding | 000k | ||
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Founded in 2017, SMPnet (Smart Power Networks Ltd.) operates in the CleanTech and SaaS sectors, developing technology for real-time optimization and control of energy systems. The company was co-founded by Anastasios Rousis and Dimitrios Tzelepis, who met while studying for their Master's in Wind Energy Systems at the University of Strathclyde in Scotland. Recognizing the complementary nature of their expertise, they established SMPnet to address the challenges of the global energy transition and grid digitalization.
SMPnet targets the evolving needs of utilities, power generators, Distribution System Operators (DSOs), and microgrid operators. The company's business model is based on a Software as a Service (SaaS) offering, providing its technology to clients to help them manage the integration of renewable energy sources, which are often unpredictable. This approach allows clients to defer costly network reinforcements, enhance grid reliability, and reduce operational costs. The company has secured funding to expand its operations in Europe and the US, with a $1.4 million seed round in May 2023 and an additional $2 million in September 2024.
The core of SMPnet's offering is the Omega suite, an autonomous software platform for power grid management. This suite provides real-time monitoring, advanced optimization, and precise control over energy assets, enabling the seamless integration of Distributed Energy Resources (DERs). Omega is technology-agnostic, capable of integrating with existing systems from all vendors. Its key features include real-time flexibility coordination, dynamic congestion management to prevent overloads, and autonomous control for critical infrastructure. The system leverages AI and can make adjustments on a millisecond basis, a crucial capability for maintaining grid stability with fluctuating renewable inputs. The platform has been deployed in projects with major utilities like Iberdrola and UK Power Networks.
Keywords: power grid management, real-time control, energy system optimization, CleanTech, SaaS, grid digitalization, renewable energy integration, smart grids, Distribution System Operators, asset management, energy transition, microgrids, autonomous software, real-time analytics, grid stability, network availability, distributed energy resources, energy asset control, adaptive optimization, grid resilience, utility software