Company Research Report: Greenely AB

Company Overview

• Name: Greenely AB

• Mission: Greenely aims to spearhead Europe's energy transition by pioneering innovative solutions that empower households to reduce their energy bills to zero while fostering a sustainable future.

• Founded By: No information is available.

• Key People:

• John Ardelius (CTO), new recruit, previously co-founder of Hedvig.

• Headquarters: Vasagatan 40, 111 20 Stockholm, Sweden.

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Greenely is known for its smart energy application, which helps households monitor and optimize energy consumption, contributing to energy savings and environmental sustainability. The app attracts 220,000+ users with a high average rating of 4.6 stars on both App Store & Google Play.

Products

• Smart Elavtal (Smart Electricity Contract)

• Description: A dynamic time-of-use tariff that charges based on hourly electricity prices.

• Key Features:

• Real-time monitoring of electricity prices.

• Automated control of device consumption to lower electricity costs.

• Supports over 40 smart home integrations.

• 100% fossil-free electricity supply.

• Smart Elbilsladdning (Smart EV Charging)

• Description: Optimizes electric vehicle charging during low-price hours to maximize savings.

• Key Features:

• Automatic charging during off-peak hours.

• Integration with a network balancing service for additional earnings.

• Compatible with 19+ electric cars and charging stations.

• Virtuella Kraftverk (Virtual Power Plant)

• Description: Allows users to contribute to and earn from the national grid stabilization efforts.

• Key Features:

• Integration with battery storage for energy optimization.

• Participation in frequency balancing services.

• Generates new income streams for users.

• Realtidsmätare (Real-time Meter)

• Description: Provides live insights into household energy consumption.

• Key Features:

• Live energy usage monitoring.

• Integration compatible with P1/RJ12 ports.

• Helps identify high-consumption devices.

Recent Developments

• Financing: Greenely secured 90 million SEK in Series A funding, led by Belgian investment firm Korys, with participation from Luminar Ventures and other shareholders.

• New Product Developments:

• Introduction of Smart Charging: Declared as the best in the market by the Podcast "Bilar med sladd" for 2023.

• Real-time Meter: Recently launched, offering detailed energy consumption analytics.

• Partnerships and Qualifications:

• For delivering advanced support services with Svenska Kraftnät's innovative platform for flexibility.

• Management Team Expansion:

• Recruitment of John Ardelius as Chief Technology Officer to lead technological developments, particularly in their VPP (Virtual Power Plant) expansion.

Additional Information

• User Testimonials: Customers frequently praise the app's comprehensive information, exceptional customer service, and the ability to track and manage electricity consumption for cost savings.

• Environmental Commitment: Greenely emphasizes providing 100% fossil-free electricity, contributing to a more sustainable and eco-friendly energy consumption framework.

This report summarizes the key aspects of Greenely AB using available data, focusing on its mission to leverage technology in providing sustainable energy solutions.