Aug 15, 2022: Lund- and Boston-based startup Emulate Energy raise 22 MSEK
An obstacle to 100% renewable energy is the ability to store energy on a mass scale. Emulate has developed an algorithm that emulates a physical battery by utilizing changes in electricity demand. Instead of relying on raw materials to build physical batteries, Emulate’s virtual battery tackles energy storage challenges by deploying cutting-edge research to build smart digital solutions. The core technology is a spin-off from academic research conducted at MIT.
– With the backing of some of the world’s most progressive energy companies, Edument’s software expertise, and a player such as Axsol, we are in a great position to solve one of the biggest societal challenges we have ahead of us. This is a very important step and milestone for our company. Next is to add top talent to our growing team and scale our business internationally, says Shwan Lamei, CEO and founder of Emulate.
Emulate’s software creates new business models for electricity retailers and empowers end users to become an active part of the energy transition. The software balances renewable energy production with demand and paves the way for the electrification of transportation and heat.
- For more information:
Shwan Lamei, CEO, +1 857 212 87 14, email@example.com
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- Photo caption:
CEO Shwan Lamei, Emulate energy
The purpose of Emulate Energy is to make renewable energy 100% accessible to the entire world. To do this the company has addressed the challenge of energy storage. Emulate was founded in 2020 with the mission to accelerate the global transition to clean energy. Emulate is headquartered in Scandinavia, a global center for energy transition and companies focused on solving energy challenges