Greenbyte Shows Strong Traction in Renewables and Raises an Additional EUR 5 Million from Korys
Belgian investment firm Korys, owned by the Colruyt family, invests an additional 5 million Euro in the Swedish renewable energy software company Greenbyte.
Greenbyte provides a SaaS platform to owners and operators of renewable energy assets around the world. To date the Greenbyte software platforms Breeze and Bright are used in 13 GWs of wind and solar assets powering more than 7 million households with renewable energy.
The investment is another step towards Greenbyte’s vision of a sustainable world powered by renewable energy. Indeed, Greenbyte’s products and services enable the translation of data into actions that in turn lead to greater efficiencies for Greenbyte’s customers. The belief of Greenbyte is that improved returns from renewables will ultimately result in a faster transition from conventional to sustainable energy generation.
The capital will be used to further intensify product development and expansion into new geographies. Greenbyte will package Breeze and Bright under one overarching service offering called the Greenbyte Energy Cloud, under which other renewable energy technologies such as hydro and energy storage will find a home in the near future. Furthermore, the capital will be used to finalize the development and commercialize Greenbyte’s new predictive analytics services based on a deep understanding of renewable energy data, renewable energy technologies and data science.
“Even though we are experiencing a strong interest for our services and products globally, the opportunity to extend our offering and meet unmet needs of our customers remains huge. We look forward to strengthen our leadership in innovation and user experience within the rapidly growing field of enabling technologies for renewable energy.” – says co-founder and CEO Jonas Corné.
With this additional investment, Korys underpins its support to the company and its management team.
“Data analytics and enabling technologies in the renewable energy segment in general are key focus areas at Korys. We believe Greenbyte will be one of the leaders and most successful companies in this segment, especially with its new predictive analytics services, which will be a very important tool for renewable energy players. In a market where subsidies are decreasing or simply disappearing, predictive analytics and intelligent insights will be key to create and capture additional value.” – says Brieuc de Hults, senior investment manager at Korys.
Korys is a family-owned holding company investing in non-listed companies, private equity funds and managing a portfolio of listed investments. Today, it has more than EUR 4 billion of assets under management, among which a significant participation in Colruyt Group, a leading retail company in Belgium and France. Investment decisions are taken with a long-term perspective on the basis of economic, ecological and social merit. Korys aims to create sustainable value through a diversified portfolio of investments. Korys has a team of more than 20 professionals based in Belgium and Luxembourg.
Greenbyte makes the industry-leading independent renewable energy management systems Breeze and Bright – used globally by wind energy and solar PV owners, operators and asset managers to capture the full potential of renewable energy projects. Renewable power plants around the world are remotely connected to Greenbyte’s software resulting in a single powerful tool to monitor, analyze, plan and control renewable energy portfolios of any size. Currently over 13 GW of renewable energy across 5 continents and 25+ countries are monitored by Greenbyte’s software platforms. Greenbyte is one of Deloitte’s Technology Fast 50 companies, recognizing the 50 fastest growing companies in the Swedish tech sector.