Metris Energy, an innovative AI-powered solar energy platform, has recently announced a significant milestone, raising £2 million in funding. Spearheaded by Octopus Ventures and Aenu VC, this pre-seed funding round marks a pivotal moment for Metris Energy as it seeks to transform the landscape of solar energy utilisation for property owners.
Transforming Solar Energy Utilisation
The infusion of capital will serve to propel the development of Metris’ groundbreaking AI-powered solar platform, which aims to revolutionise how property owners navigate the assessment, installation, and monetisation processes of solar energy systems. With a focus on the commercial property sector, the company envisions tapping into a substantial £22 billion revenue opportunity, underscoring the immense potential for innovation in this space.
Metris Energy distinguishes itself by offering comprehensive guidance throughout the solar journey, streamlining everything from initial assessments to installation and ongoing energy management. At the core of its platform lies sophisticated AI algorithms, which enable swift portfolio assessments and empower property owners to swiftly ascertain the financial advantages of embracing solar energy solutions.
Moreover, Metris’ platform alleviates the administrative complexities associated with solar energy transactions by digitising and automating contract processes, simplifying interactions between property owners and tenants.
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The Role of AI in Revolutionising Solar Energy
Natasha Jones, co-founder of Metris, emphasised the company’s commitment to aligning financial incentives with environmental stewardship. By empowering commercial property owners to capitalise on unused roof space and generate additional revenue streams, Metris aims to catalyse widespread adoption of solar energy, thereby contributing to a greener, more sustainable future for the planet. Jones expressed enthusiasm for Metris’ role at the forefront of the decentralised energy revolution, underscoring the company’s dedication to transforming every building into a potential power plant.
The emergence of AI-driven solutions within the solar energy sector reflects a broader trend within the UK market. In August 2023, the Department of Energy Security and Net Zero (DESNZ) unveiled a £3.25 million funding initiative designed to bolster projects leveraging AI to expedite solar connections to the grid. As part of the larger £1 billion Net Zero Innovation Portfolio, this funding initiative aims to support 12 AI projects aimed at enhancing renewable energy generation.
Among the recipients is London-based Open Climate Fix Ltd., which received £121,500 in funding. Open Climate Fix is pioneering AI technology that utilises satellite data to forecast solar energy influx to the grid, thereby mitigating network congestion and optimising renewable energy transmission efficiency.
Financial Incentives and Environmental Stewardship
The infusion of £2 million in funding represents a significant milestone for Metris Energy, underscoring the growing prominence of AI-driven solutions in the solar energy sector. As the company continues to innovate and expand its reach, it stands poised to revolutionise how property owners harness the power of solar energy, paving the way for a more sustainable future.