Nesta Impact Investments announces investment into energy procurement and analytics start-up Renewabl

24 July 2024 – Press Release

London, UK: Nesta Impact Investments, the investment arm of innovation charity Nesta, has invested £150,000 into Renewabl, a data-driven platform for streamlined clean energy procurement.

Nesta’s investment in Renewabl is part of a multi-million-pound seed investment led by clean energy investor Helen Ventures.

Founded in 2024, award-winning start-up Renewabl supports companies in their journey to achieve 100% renewable energy. Their innovative digital platform connects companies directly to real wind and solar farms, securing clean energy certificates that align with their net-zero targets.

With more robust Environmental Social and Governance guidance, businesses increasingly need to validate their clean-energy use. Greater transparency in the industry boosts business confidence and allows companies to match clean energy production to their specific consumption needs.

Renewabl’s advanced technology platform addresses this need by enabling businesses to trace renewable energy to its source of generation and trade Renewable Energy Certificates with up-to-hourly precision. The platform also uses smart algorithms to analyse businesses’ consumption needs and highlight the most impactful clean energy available.

This new round of funding will enable Renewabl to develop its offer and platform with enhanced analytical tools, as well as expanding into Spain, Italy, France and Germany.

Alex Hook, Senior Investment Director at Nesta Impact Investments, said:

“Nesta Impact Investments is dedicated to supporting innovative, purpose-led businesses to tackle significant social challenges.

“Our investment in Renewabl reflects their potential to support more enterprises in adopting renewable energy to power their business – bringing much-needed transparency and innovation to the Renewable Energy Certificate market. Renewabl’s approach can expand access to this market and help more companies speed up their transition to net zero cost-effectively and in a way that regulators can verify.”

JP Cedra, CEO and co-founder of Renewabl, said:

“More than ever, businesses seek traceability in clean energy commitments and alignment with ESG criteria set by over 80% of asset managers

“With our recent fundraising success, our investors endorse our solution as a credible path forward in increasing the adoption of carbon-free electricity. We look forward to expanding our innovative offerings with their support.”

Notes to editors:

1. For more information on Nesta Impact Investments, please contact Kieran Lowe, Media Lead, on 020 7438 2576 or at [email protected].
2. For more information on Renewabl, please contact Luma Manina, Senior Marketing Manager at Renewabl: [email protected] / +44 7934 584123

About Nesta Impact Investments

Nesta Impact Investments provides financial, knowledge and network capital to innovative tech ventures that are changing the world for good. We look to back businesses in edtech, foodtech, healthtech, climate tech, the future of work and productivity, that are closely aligned to Nesta’s mission impact goals:

• A sustainable future: To accelerate the decarbonisation of UK households and raise productivity in ways that advance the transition to net zero. Our focus at the moment is on reducing domestic energy consumption, supporting SMEs to adopt green technology and supporting the upskilling needed for a green economy.
• A healthy life: To increase the average number of healthy years lived in the UK, while narrowing health inequalities. Our focus at the moment is on reducing obesity. This includes new food tech, novel ingredients, healthy brands and helping people access healthy foods, as well as relevant behavioural and health tech.
• A fairer start: To narrow the education outcome gap between children growing up in disadvantage and the national average. We look for solutions that deliver high-quality, affordable provision and workforce development. We are also looking at financial inclusion solutions which can reduce stress on families who can then better support the home learning environment.

About Renwabl (www.renewabl.com)

Renewabl is accelerating the adoption of renewables through an advanced technology platform that enables businesses to analyse their clean energy portfolio and trade temporal-matched solutions based on their consumption profile. The company was founded in 2023 by Juan Pablo Cerda, with extensive experience at BP, Shell, and ED&F MAN, alongside Nick Martyniuk, formerly of WePower in Australia. The team’s combined 80+ years of experience in clean energy, coupled with significant headcount growth over the past year, positions Renewabl to attract top talent and drive industry-leading advancements.

Source : Nesta