Berlin startup Terra One has received $7.5 million in a seed financing round to expand its battery storage systems in Germany.
The company uses lithium-ion batteries and AI technology to efficiently store energy and deliver it to the grid at optimal times based on demand and energy prices.
This strategy addresses the problem of energy loss due to grid congestion and supports the stabilization of the power grid through intelligent energy control.
Berlin-based startup Terra One has secured $7.5m in seed funding to scale its battery storage systems in Germany.
With the rise of electrification, such as heat pumps and electric vehicles, the energy grid is under a lot of stress in Europe. The inefficiency of the energy grids means high amounts of clean energy are often wasted.
In 2023, Germany lost nineteen terawatt hours of energy — enough to power six million households — due to grid congestion. Terra One’s solution is to store renewable energy generated during periods of low demand, which is then released to the grid when demand is high.
Instead of producing the batteries in-house, Terra One buys lithium-ion batteries from companies like Tesla or CATL. It then places the batteries in locations close to a transmission line or substation and plugs them into the grid via a grid operator, of which there are 800 in Germany.
The company’s innovation, it says, is its AI model which analyzes market trends and supply and demand to decide when the optimal point is to charge the battery — both in terms of energy balance in the grid and price for customers — and when to discharge it .
PT1, an early-stage VC for real asset technologies and neosfer, the early-stage investor of Commerzbank led the round. 468 Capital, N26 cofounder Maximilian Tayenthal as well as the scout funds of Andreessen Horowitz and Hedosophia also participated.
