Funding

Kildare energy tech firm garners €6m for ‘opportunistic’ growth

GridBeyond is using debt financing to build out markets in the US, Australia and Japan for its machine-learning power efficiency product

Michael Phelan, co-founder of GridBeyond: ‘All the winds are going in the right direction’. Picture: Fergal Phillips

GridBeyond, the energy technology developer, plans to grow its product offering and continue its expansion into new markets after securing €6 million in debt financing last week.

Michael Phelan, the firm’s chief executive and co-founder, said the new debt facility agreed with Claret Capital, a London-based debt finance specialist, would allow it to exploit “opportunistic” growth opportunities across Ireland, the US, Australia and Japan.

Speaking to the Business Post, Phelan said it had been building ...