Why we invested in HYDROGRID

Increasing revenues of hydropower plants up to 18%?

Hydropower’s contribution to the energy system transition is not limited to the huge amount of renewable electricity it produces (2 times higher than solar and wind combined) but is of crucial importance to enable more VRE (Variable Renewable Energy) sources on the grid, as it provides the required flexibility and storage options. [IEA-Hydropower Special Market Reports]. Timing of electricity production and increasing the amount of electricity production of hydropower plants have high value and this value will increase even more over time, as the percentage of VREs on the grid rises.??

HYDROGRID's software is used to automate the operational processes of managing various hydropower plant types, increasing revenue per MWh generated AND increasing annual energy production, while reducing the workload, resulting in a revenue increase of up to 18%. Within one dashboard, complex portfolios of hydro powerplants can be monitored and managed.??

Based on advanced optimization models, water inflow (weather) forecasts, and price forecasts the software provides steering instructions to the plants and close to real-time bids to the customer's trading department to enact. HYDROGRID's software can also work with customers’ own forecast models if required.??

HYDROGRID was founded in 2016 in Vienna by CEO Janice Goodenough, with the goal to automate cumbersome manual processes for the optimization of hydropower plants. With 10+ years of energy industry experience as a former distributed renewable generation & quantitative analysis manager at Verbund (Austria’s largest hydropower operator), Janice has developed a deep understanding of the operators’ problems, helping her to build the product and company ever since. She is joined in the management of the company by Annette Mossel.??

The investment received from SET Ventures will be used to grow the business and further build the leading position of its products. HYDROGRID marks SET’s first investment in the hydropower industry and we are thrilled to partner with the team and with co-investor Constantia New Business.?

HYDROGRID is expanding rapidly in new markets worldwide. Keep an eye on this company for new announcements!?