Mar 2023

Opus advises Piclo on its Series B fundraise

Category: Deal Announcement

Opus is pleased to have advised Piclo on its Series B fundraise. The funding round was co-led by Future Energy Ventures and Clean Growth Fund, with follower investors comprising Green Angel Syndicate (existing investor) and new investors Toshiba Energy Systems & Solutions, Sustainable Future Ventures and Japan Energy Fund.

Piclo Flex, the world’s largest flexibility marketplace, enables system operators to procure, dispatch and settle local flexibility services from flexibility service providers, such as EVs and batteries, to balance the grid during periods of constraint thus enabling smarter, more flexible and more sustainable energy networks. The flexibility solutions provided by Piclo’s marketplace platform will help deliver increased energy security at a lower cost and will play a crucial role more broadly in the decarbonisation of the energy system.

The funding round will enable Piclo to further strengthen its market-leading position in the UK and Europe and to grow its international presence in the US and APAC, as well as supporting the rapidly growing team and continued product development.

The transaction adds to the strong track record of Opus’ energy transition and climate change sector practice, and is Opus’ 5th energy software transaction in the last two years.

For further information please contact: Stuart Schofield, Thalia Ilsen Nunn and Daniel Barley.