Upside Energy Ltd

clock • 1 min read

For the grid to remain stable, supply and demand for electricity must be kept in balance. National Grid currently spends £850m p.a. on services to maintain this balance, many of them delivered by operating traditional fossil fuel generation at reduced capacity. This is inefficient, and both expensive and responsible for significant greenhouse gas emissions. Providing such services from demand side, e.g. reducing demand at peak times, would result in a cheaper and less polluting solution.

Upside Energy has developed an innovative cloud service that coordinates energy stored in uninterruptible power supplies, solar PV systems, electric vehicles, domestic heating systems, etc. This creates a 'Virtual Energy Store' (VES) that enables us to sell a range of balancing services to grid and distribution network operators and energy suppliers, starting with frequency regulation services to National Grid. We then redistribute 75 per cent of our revenue back to the original equipment owners: households and small businesses.

We have also developed an open innovation model that will allow us to gain exclusive licences on a large portfolio of algorithms developed by our partner universities.

More on Investment

Reports: China's EVE Energy eyes £1.2bn investment in Coventry gigafactory

Reports: China's EVE Energy eyes £1.2bn investment in Coventry gigafactory

BMW battery supplier in talks to invest more than £1bn in West Midlands facility that could become UK's largest gigafactory, reports claim

Stuart Stone
clock 25 March 2024 • 3 min read
Chivas Brothers partnership to improve Scottish rivers and waterways

Chivas Brothers partnership to improve Scottish rivers and waterways

Pernod Ricard Scotch business unveils long-term collaboration to preserve and protect Scottish rivers and waterways that feed its whisky making

Stuart Stone
clock 22 March 2024 • 3 min read
'Key enabler of investment': BSI launches nature market standards for consultation

'Key enabler of investment': BSI launches nature market standards for consultation

New Defra-backed principles from UK national standards body designed to push consistency and integrity across nature markets and prevent greenwashing

Stuart Stone
clock 21 March 2024 • 3 min read