EDP Invests in Piclo to Unlock New Opportunities in Flexibility Markets

Posted August 20, 2024

Lisbon, Portugal, 20 August 2024 – EDP Ventures, the venture capital arm of EDP, announces today that it has invested in Piclo, the global pioneer in the energy flexibility markets. Piclo’s software solutions enable buyers and sellers of electricity capacity to trade, making energy grids smarter, more flexible and sustainable by contributing to the decarbonization process of electrical networks.

EDP Ventures co-led the funding round, together with existing Piclo investors Clean Growth Fund (CGF) and Future Energy Ventures (FEV), ahead of a larger round later in 2024. The funds will be used for Piclo’s global expansion into new parts of the United States and Australia.      

EDP Ventures’ investment is underpinned by the strategic synergy between Piclo's innovative solutions and EDP's commitment to a more sustainable energy future. Piclo is already operating in six markets: the UK, Ireland, Italy, Australia, the United States and Portugal. In Portugal, it collaborates with E-REDES, the energy distribution system operator of EDP, which uses the Piclo Flex marketplace to trade flexibility.      

Piclo’s end-to-end platform is one of the largest in the world, with over 300,000 active assets registered, totalling more than 22 GW of flexible capacity. The company has awarded flexibility contracts worth £74 million and acquired more than 2.6 GW of flexible capacity. With this investment, Piclo aims to establish new partnerships in key markets, expand its presence and continue to develop its ecosystem, becoming an essential facilitator for all participants in the flexibility market.  

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