Centrica backs AI start-up with £200k funding

Centrica’s impact investment fund is providing £200,000 to support an artificial intelligence (AI) start-up company. Grid Edge has developed a cloud-based energy management software which uses AI to forecast the […]

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By Priyanka Shrestha

Centrica’s impact investment fund is providing £200,000 to support an artificial intelligence (AI) start-up company.

Grid Edge has developed a cloud-based energy management software which uses AI to forecast the energy requirements of buildings over a four-hour period.

The system is expected to help reduce energy use in buildings by up to 25%, lower carbon emissions as well as energy bills.

The funding from Ignite will help turn the start-up into a commercial venture, creating four roles at its headquarters and three further positions planned by the end of the year.

Tom Anderson, Grid Edge CEO said: “This investment is a game-changer for us. We can now focus on accelerating our product development and establishing a real footprint in the commercial market.”