As Europe witnesses a surge in electrification, a very innovative Dutch tech startup Tibo Energy is addressing the challenges posed by grid congestion through innovative solutions. The increasing demand for electricity, driven by technologies like electric vehicles (EVs) and heat pumps, has led to bottlenecks and disruptions in the energy grid. Tibo Energy, a spinoff from the Eindhoven University of Technology, aims to tackle this issue using digital twins, creating a more efficient and optimized energy management system.
Energy Grid Congestion: A Growing Challenge
The electrification of critical technologies, including EVs and heat pumps, is contributing to grid congestion, analogous to rush hour traffic on a busy highway. Excessive demand for electricity creates bottlenecks, leading to power outages, voltage fluctuations, and equipment damage. Companies seeking to install large heat pumps or fast-charging infrastructure for EVs face delays to prevent overburdening the grid.
Tibo Energy’s Digital Twins Approach
Tibo Energy employs digital twin technology to optimize energy consumption, generation, and storage. The startup creates a digital replica of all energy assets, incorporating real-time information gathered through sensors. As businesses increasingly generate their electricity on-site using assets like solar panels, heat pumps, and batteries, managing these assets becomes challenging. Tibo’s advanced software, powered by machine learning, transforms these assets into a local smart energy grid, enhancing overall system efficiency.
Benefits and Cost Savings
The startup claims that its digital twin software enables commercial and industrial companies to transition to electric and integrate renewable assets without the need for costly grid expansion. Tibo asserts that its technology results in energy savings of up to 15% and cost savings of up to 30%.
Investment and Growth Plans
Tibo Energy recently secured €3 million in a seed funding round led by SET Ventures and Speedinvest. The new funds will be utilized to expand sales, marketing, and development teams, enhancing the product and driving national and international growth. The tech startup aims to capitalize on the growing adoption of distributed solar panels in Europe and facilitate a seamless energy transition for businesses without compromising grid infrastructure.
Rene Savelsberg, co-founder and partner at SET Ventures, emphasized the significance of Tibo’s technology in enabling companies to electrify quickly while optimizing for price and environmental impact. The startup’s digital twin approach is seen as a game-changer in addressing grid congestion challenges and fostering a more sustainable energy ecosystem.