Suena, a company specializing in trading and optimization software for battery storage and renewable energy assets, has recently secured €3 million ($3.27 million) in funding from European clean energy investors. The capital injection will be used to further develop Suena’s Autopilot software and expand its trading services in key European markets, including Germany, the UK, Belgium, the Netherlands, and Spain.
Suena’s technology not only supports trading for stand-alone battery systems but also for systems co-located with solar or wind projects. The company’s CEO, Lennard Wilkening, highlighted that they have prominent customers in Germany, such as EnBW and Prokon, who operate solar plus storage projects. Suena plans to invest in the advancement of its artificial intelligence functionality as well as expand its team.
The Autopilot software developed by Suena is designed to handle the complexities of efficient power trading on multiple markets. It is capable of processing large volumes of data, optimizing trading strategies, and responding in real time to fluctuations in renewable energy production and market prices. The software ensures that pricing, market forecasts, dispatch schedules for energy storage, and energy buying and selling decisions are optimized across various power and balancing markets.
To facilitate the trading services for battery storage and renewable energy asset owners, Suena collaborates with virtual power plant (VPP) providers such as Spain-based Cellect Energy, or Germany-based Energiekoppler and emsys VPP. These partners specialize in managing the technical communication between Suena’s trading software and the battery assets of customers.
The recent funding round was co-led by Smart Energy Innovationsfonds, the corporate venture capital fund of Swiss energy supplier Energie 360, and Santander InnoEnergy Climate Fund based in Spain. They were joined by early investors Vireo Ventures and Raakwark Kaptaal from Germany, as well as Netherlands-based EIT InnoEnergy.
Suena’s latest funding will enable the company to further develop its trading software and boost its presence in the European renewable energy markets. The expansion into key markets like Germany, the UK, Belgium, the Netherlands, and Spain will solidify Suena’s position as a leading provider of trading and optimization software for battery storage and renewable energy assets.
