Press release: Fractal Energy announces its fundraising
FRACTAL ENERGY raises 2M€ to reduce the electricity bill and the carbon footprint of households
Created in 2021 and based in France, Fractal Energy has just raised 2 million euros. With Vertigo entering the capital of the company and thanks to the support of Bpifrance, the company will finalize the development of the “Flex Kit”, its innovative and turnkey solution to reduce the energy bill and the carbon footprint of households.
The “Flex Kit” consists of a consumer-grade, easy-to-install device (see illustration above) that uses a battery to automatically store renewable electricity from the grid or photovoltaic panels. It returns it to the home at times when electricity is produced from fossil sources. This solution thus makes it possible to shift all or part of the electricity consumption of households to times of day during which the electricity on the grid is cheaper and less carbon-intensive, this is the principle of residential flexibility.
Thanks to this successful seed round, FRACTAL ENERGY is accelerating its technological development and positioning itself to become the leader in residential flexibility in Europe. The participation of Vertigo and Bpifrance, via the i-Lab competition and DeepTech development aid, will enable it to recruit talents in its new office in Paris, more precisely at Station F within the incubator TELECOM PARIS. The company is launching its recruitment program, the first phase of which focuses on IT developer profiles to then reach a dozen employees by the end of 2023.
The company’s objective is to equip a thousand households by the end of 2023 with the FLEX KIT, made up of three innovative technological bricks: 1. The FLEX PLUG getting real time data from smart meters 2. The FLEX BOX capable of storing and restoring 1kWh of electricity from a simple wall socket 3. The FLEX APP which aggregates all households to provide flexibility services to the electricity network
To achieve its goal, the young start-up has already signed an exclusive license agreement with the University of Tours (France) to use the results of research work on an innovative bidirectional converter to democratize storage technology in all types of households in order to shift all or part of their electricity consumption to times when electricity is cheaper and less carbon-intensive on the electricity grid.
Created by two engineers, Fabien BERGER and Jérôme BARBOU, the company was able to count on a dynamic French regional ecosystem favorable to the development of innovative start-ups. Fractal Energy was thus able to rely on Scale’Up, the fundraising support program run by the regional economic development agency, DEV’UP Centre-Val de Loire. Last December, it also received the “TOP DES TOPS” prize from Indre-et-Loire companies during the Top des entreprises evening, organized by the La Nouvelle République group.
About FRACTAL ENERGY: Founded in 2021 and based in Tours (France), the company develops services and products allowing European households to better consume electricity in order to reduce their bill and their carbon footprint. www.fractalenergy.io and https://www.linkedin.com/company/fractalenergy
About VERTIGO: Founded in 2018, the company specializes in energy efficiency as well as financing mechanisms for the energy transition. It works on all decarbonation issues in housing, professional buildings, utilities and transport. Vertigo provides both its technical skills in decarbonization strategies as well as financial aid for improving energy efficiency based, in particular, on the Energy Savings Certificates (CEE) system. https://vertigo-energy.com/
About Bpifrance: Bpifrance finances companies – at every stage of their development – with loans, guarantees and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Advice, university, networking and acceleration program for start-ups, SMEs and ETIs are also part of the offer offered to entrepreneurs. Thanks to Bpifrance and its 50 regional locations, entrepreneurs benefit from a close, unique and efficient interlocutor to support them in facing their challenges. More information on: www.Bpifrance.fr – https://presse.bpifrance.fr/