Venture Kick startup DEPsys raises CHF 3 million financing round in Series A

It's the first round of financing for DEPsys, active in the field of smart grid solutions. The company's products and services help grid operators to efficiently manage the increasing amount of renewable energy without investment in the grid itself.

Electrical grids have been designed for central energy production and top-down distribution to consumers. With the increase of renewable energy from decentralized solar and wind installations, as well as batteries, the electrical stability of the networks is no longer guaranteed. The DEPsys GridEye smart grid solution monitor and control the network in realtime to stabilize the system, secure the supply and optimize the energy flow using intelligent algorithms in a decentralized architecture.

DEPsys customers have been using GridEye for two over years in Switzerland. With precious insights gained from monitoring and the ability to control energy flows, they have been able to avoid costly network extensions, to improve grid stability and to use energy that otherwise would have been lost. One of the biggest distribution operators in Western Switzerland included the product in its strategic roadmap for 2030, planning a full rollout across its entire network. The third version of the GridEye solution is now entering the industrial production phase and the company is starting the market development across Western Europe.

"The potential for smart grid solutions is huge. In the coming years, all operators will have to address the problems that renewable energy will create in the distribution grid." says DEPsys CEO Michael De Vivo. "Our solution has the advantage to be simple to install on existing equipment without the need for a network model, which is even more important in emerging countries, where the grid topology is not known. The solution doesn't require a central computing infrastructure or heavy data communication and helps the customer to reduce capital and operating expenses."

About DEPsys
The 2013 Venture Kick startup DEPsys is a Swiss technology company founded in 2012, establishing thought leadership in the energy market. Based in Yverdons-les-Bains, it provides evolutionary solutions enabling traditional low voltage electricity networks to cope with the constraints of decentralized production from renewable energy sources, such as photovoltaic systems and wind turbines, as well as emerging storage technologies.