Impact / Collaboration

EDP Ventures Spain invests 200,000 Euros in Asturian startup Plexigrid

Plexigrid is an Asturian startup created in 2020 by one of the founders of the LEMUR (Laboratory for Electrical Energy Management Unified Research) research group at the University of Oviedo, located on the Gijón Campus, Pablo Arboleya.

Plexigrid develops software for the energy sector that allows real-time graphical representation of the electricity distribution network. It uses graph-based database technology, which allows greater agility and speed in the detection of events, in the execution of calculations for the operation and planning of network expansion. Its product portfolio also includes other software tools for the aggregation of energy consumption and the management of distributed assets, such as batteries, photovoltaic panels and electric vehicle charging points.

EDP Redes España, EDP’s distributor in Spain, has successfully collaborated with the LEMUR research group in the development of some of the Plexigrid products.

EDP Ventures Spain is EDP’s venture capital instrument in Spain and aims to invest in Spanish startups active in solutions to the challenges of the energy transition (clean generation, smart grids, customer solutions, storage and flexibility and digitalisation).

The €200,000 investment in Plexigrid is EDP Ventures Spain’s first operation and takes the form of a convertible loan.

This co-investment operation is part of the collaboration framework agreement between the Regional Promotion Society of the Principality of Asturias, the European Business and Innovation Centre of the Principality of Asturias and EDP Ventures Spain regarding co-investment in Asturian start-ups. Thus, the Sociedad Regional de Promoción del Principado de Asturias will invest 100,000 euros in Plexigrid, bringing the total co-investment in the company to 300,000 euros.

Meet the 2021 selected startups: Camus Energy

Previous article

2021 Edition: Bootcamp Video

Next article

You may also like


Comments are closed.