• Powernaut, a Belgian software startup, has raised €2.4 million in pre-seed funding from some of the most prominent European VCs Revent (Berlin) and Seedcamp (London), with participation from Belgian funds Pitchdrive and Syndicate One.

• The startup develops orchestration software that manages millions of decentralised devices, think electric vehicles, solar panels, batteries and heat pumps, to optimise them across the portfolio of energy suppliers.

• The capital injection serves the company’s raison d'être to accelerate the shift away from fossil fuels while lowering costs for consumers.

Ghent, December 2024 - Belgian software startup Powernaut has raised €2.4 million from leading European investors to accelerate the energy transition away from fossil fuels by building the next generation of power plants. The funding round was led by Berlin-based Revent, joined by Seedcamp (London), Pitchdrive (Antwerp), and Syndicate One (Brussels). The fresh capital will support Powernaut on its mission to decentralise the energy sector and reduce the reliance on fossil fuels entirely, all while lowering costs for consumers.

Traditionally, large centralised power plants generated electricity for everyone, but now millions of decentralised devices—such as solar panels, batteries, electric vehicles, and heat pumps—are generating and consuming power locally. The European Commission predicts up to 10 million electric vehicle charging stations will be needed by 2030, along with more than doubling the current solar panel installations. This rapid growth in decentralised infrastructure presents significant challenges for energy suppliers and grid operators. While this shift is reducing our dependency on fossil fuels, our electricity grids weren't designed for these new interconnections, and urgent changes are needed to support ongoing electrification and decarbonisation efforts.

Powernaut's software helps energy suppliers manage this design shift by optimising millions of decentralised devices. Rather than just focusing on local energy generation, it ensures these devices are integrated effectively with the wider grid, balancing local production with grid demands. This coordination enables energy suppliers to offer new, cost-effective solutions to consumers while eliminating dependence on fossil fuels.

Florentijn Degroote, co-founder and CEO of Powernaut: "Navigating the energy transition is tough sailing, especially with so many renewables being installed without much coordination. Unlike traditional power plants, solar panels and wind turbines rely on fluctuating weather conditions, making our energy production increasingly unpredictable. To effectively add more renewables and keep costs low for everyone, we need to coordinate these smart connected devices effectively - and software and AI are essential in doing so."

“This investment comes at a perfect time,” said Henrik Grosse Hokamp, partner at Revent. “Powernaut is providing the technology needed to support decarbonisation, renewable energy rollout, and decentralisation, ultimately phasing out polluting power sources like gas plants.”

Since its launch in January 2024, Powernaut has partnered with industry leaders managing over 200MW of decentralised energy assets, such as solar panels, batteries, and electric vehicles. This is roughly equal to 80 wind turbines or the power needed to supply 40,000 homes, underscoring Powernaut's growing impact on the energy landscape.

Serge Morel, co-founder and CTO of Powernaut, added: "Our new decentralised system has the potential to save consumers and businesses across Europe more than €300 billion annually, while cutting millions of tons of CO₂ emissions each year. Having our investors on board is crucial—they share our mission, provide capital, and bring valuable expertise from backing Europe's leading unicorns. Their support will help us scale quickly, bring in new talent, and achieve our climate goals."