South Korean conglomerate joins €12m funding round into Irish firm GridBeyond as global demand for AI-driven energy orchestration intensifies.
Samsung Ventures has joined the shareholder register of Dublin-headquartered GridBeyond, taking part in a €12m equity investment aimed at scaling the Irish energy technology group’s international footprint.
The investmIrish Irish ent sees the venture capital arm of the South Korean giant sit alongside a suite of existing backers, including Alantra’s Klima Energy Transition Fund, Energy Impact Partners, Mirova, ABB, and Constellation Technology Ventures. Longstanding investors such as Yokogawa, EDP, and Enterprise Ireland also participated in the round.
“GridBeyond has demonstrated exceptional technical expertise and global traction in a rapidly evolving energy landscape”
The capital injection is intended to bolster GridBeyond’s presence in its primary markets of the UK, Ireland, the United States, Japan, and Australia. Beyond geographic expansion, the funds will support the technical evolution of the company’s platform, which uses artificial intelligence to manage distributed energy resources.
Powering the future grid
GridBeyond’s technology functions as a digital conductor for the modern power grid. It orchestrates utility-scale renewable generation, battery storage, and industrial energy demand in real time.
By forecasting market fluctuations, the platform automatically dispatches energy assets to provide services like arbitrage and frequency response, helping to balance the grid while managing the physical wear and tear on hardware.
Since its foundation in 2010, GridBeyond has been developing its AI platform to help businesses unlock the full potential of energy assets, ensuring the sustainability, resilience, and affordability of energy as the world moves towards a zero-carbon future.
In 2022 the business raised €6m in investment in a round led by Claret Capital Partners. This was followed by a €52m investment led by Alantra’s Energy Transition Fund, Kilma.
“GridBeyond has demonstrated exceptional technical expertise and global traction in a rapidly evolving energy landscape,” a spokesperson for Samsung Ventures said. The spokesperson noted that the company’s ability to manage demand response and optimise battery assets positions it as a key enabler of smarter energy systems and grid resilience.
“We are pleased to invest in a company developing technologies that accelerate decarbonisation and support a more sustainable and digitised world.”
For Samsung, the move offers a strategic foothold in the software layer of the energy transition. The two companies intend to collaborate on asset optimisation and energy services to meet their respective global growth targets.
Richard O’Loughlin, deputy CEO at GridBeyond, described the arrival of Samsung as a shareholder and partner as “recognition that GridBeyond has developed a world leading integrated optimisation platform.”
He added that Samsung’s expertise in battery development and energy trading would accelerate the delivery of “market-ready optimisation and trading solutions at global scale.”
The partnership arrives at a pivotal moment for the sector, as power grids worldwide struggle to integrate volatile renewable sources with rising electricity demand.
Michael Phelan, chief executive of GridBeyond, said the collaboration would provide new tools for renewable and battery developers. This, he noted, would enable “greater asset value, improved grid stability, and faster progress toward a decarbonised energy system.”
Top image: Photo by Fré Sonneveld on Unsplash
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