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Iceland-based SNERPA Power raises €2.2M to decarbonise the energy sector

SNERPA Power funding
Picture credits: SNERPA Power

Currently, power intensive industries account for 37% of global energy use and 24% of global CO2 emissions. With continued growth, efficiency, automation, and sustainable solutions are needed to reduce CO2 emissions and accelerate decarbonisation of the energy sector.

Working with the mission, Icelandic startup SNERPA Power, which aims to speed up the energy transition, has raised €2.2 million funding. The oversubscribed round was led by Iceland-based Crowberry Capital (that backed Iceland-based Lucinity) and Sweden’s BackingMinds.

The company will use the funds to boost decarbonisation of the energy sector. SNERPA Power will use the funds to scale its workforce, expand internationally, and build out its commercial footprint.

According to Íris Baldursdóttir, CEO of SNERPA Power, “Ambitious industries want to be a part of the net-zero energy system, and the energy system needs them to participate actively. However, new tools and solutions are urgently needed to solve complex challenges and make it attractive and profitable for industries to take part. That’s what Snerpa Power is all about, and there are substantial savings for industries to be made.”

“We believe that through innovation, automation, and digitalisation of industrial load, there are gains to be created for the benefit of our customers and the energy system as a whole. We partner up with power-intensive users to find the optimal solution adapted to their load characteristics and, of course, the trends in the electricity market”, said Eyrún Linnet, CTO of SNERPA Power.

Energy transition made seamless

Founded in 2022 by Íris Baldursdóttir and Eyrún Linnet in Reykjavik, SNERPA Power aims to create intelligent energy services for power-intensive industries, generating new revenue streams and enhancing competitiveness in the electricity market while facilitating the energy transition.

It collaborates with power-intensive consumers to identify customised solutions that align with their load attributes and the prevailing trends in the electricity market.

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