Upside Energy wins Shell Springboard 2017!
Upside Energy has been crowned the national winner for 2017 and receives a total of £150,000 of equity-free funding – as well as other support – to aid the scale-up and commercialisation of its technology.
The Upside Energy team created a cloud-based energy aggregation service called the Virtual Energy Store which can be sold to the grid to help balance supply and demand. This, in turn, helps reduce the need to turn on the older, most polluting and expensive power stations during peak demand times. The Shell Springboard panel of judges – drawn from academia, the public sector and the investment community – chose Upside Energy from six national finalists, out of a total of 131 applicants to the programme this year.
Dr Graham Oakes, Founder and CEO of Upside Energy, said:
“Being named as the Shell Springboard winner is great for our business. It comes at a crucial point, as we figure out how we can scale-up. I believe that this funding and the wider business support we will receive can accelerate our plans.”
The Shell Springboard programme supports the brightest UK businesses innovating for a lower carbon future. Applications for the Shell Springboard 2018 programme will open later this year.