Piclo secures Series A investment from Clean Growth Fund to expand smart energy platform
The Clean Growth Fund made its debut investment in Piclo to support international expansion and grid decarbonisation.
Piclo develops software solutions that enable electricity buyers and sellers to trade capacity, supporting the decarbonisation of electrical networks. Its platform operates across six markets globally, including the UK, the US and Australia.
Piclo has secured Series A investment from the Clean Growth Fund to accelerate the decarbonisation of electricity grids and support its international expansion. The funding marks the first venture capital investment made by the Clean Growth Fund since its establishment earlier in the year. Piclo operates an online marketplace that allows network operators to procure flexibility services from emerging technologies such as electric vehicles and battery storage. The company has already partnered with five major UK distribution network operators and is expanding its footprint into European markets.
From the founder
"It is fantastic that the Clean Growth Fund has chosen to invest in Piclo, with the Fund's philosophy truly matching our mission of building a decarbonised and sustainable future."
James Johnston
CEO at Piclo
Investor perspective
"Piclo is precisely the type of clean-tech company that the Clean Growth Fund wants to invest in."
Beverley Gower-Jones
Managing Partner, Clean Growth Fund
Use of funds
- 01Expand into international markets
Investors
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About the company
Piclo
Piclo operates a global energy flexibility marketplace that makes electricity grids smarter and more sustainable.