Macdoch Group Leads Fundraising Round in GreenCom Networks

Munich, Sophia Antipolis, April 16th, 2018. GreenCom Networks received funding with the Macdoch Group as lead investor and with a participation of its current shareholders Munich Venture Partners and SET Ventures. The money will be used to further strengthen GreenCom’s leading position as an Energy Internet of Things (IoT) provider in the European energy market and beyond.

GreenCom is providing its Energy Information Brokerage Platform to utilities and energy service companies, including OEMs of energy-relevant devices. As a company, GreenCom combines unique strengths from a deep understanding of the future energy markets and its telco technology background with the experience of managing millions of devices connected to an Energy IoT.

By utilizing GreenCom’s platform, customers may offer new digital energy services to their residential customer base. As the energy industry is facing a significant shift from oil and gas towards electricity and from central power generation towards distributed generation, battery storage, and electric vehicles, intelligent software is essential to enable a smart and sustainable future energy supply. With its end-to-end Energy IoT offering, GreenCom integrates distributed assets like solar inverters, heat pumps, battery storage or electric vehicles from a large variety of vendors to enable such new digital energy services.

GreenCom’s Energy Information Brokerage Platform is using artificial intelligence to predict the behavior of connected assets and to optimize their usage. Depending on the services GreenCom’s customers are offering, the platform supports local or central optimization, e.g., within GreenCom’s virtual power plant application. Just recently, GreenCom announced its offering of an energy community engine that allows customers to connect with each other virtually.

“Macdoch is not just a financial investor for us. The Macdoch Group has excellent relationships in the Australian market. And that’s a very interesting one that we are actively looking at,” commented Christian Feisst, CEO of GreenCom.

“GreenCom has a unique offering that paves the way for the future energy transition. We invested because we recognize the company’s unique capabilities and we see significant synergies with our other business activities,” said John Thorpe, Director Macdoch UK.

About The Macdoch Group

MacTech is a family-controlled investment group with executives based in Sydney and London. Its interests span quoted equities, venture capital, agriculture and property mainly in the UK and Australia. Macdoch invests in a number of areas with a particular focus on the energy and healthcare sectors.