Copenhagen-based electricity supplier Reel has secured €15 million in Series A funding led by Future Energy Ventures, with participation from UVC Partners, Transition, The Footprint Firm, and angel investors. Founded in 2020 by Jon Sigvert, Anders Meldgaard, and Christian Schmidt, the company addresses Europe’s renewable energy challenges by making electricity costs predictable for businesses and profitable for producers through Power Purchase Agreements and battery storage solutions. The funding will refine products, expand its renewable energy portfolio, and build a commercial team in Germany, Europe’s largest energy market, where Reel already balances projects for producers including Blue Elephant Energy and greenwind.
In-Depth:
Reel, a Copenhagen-based electricity supplier and trader accelerating the energy transition, has raised €15 million in Series A funding to refine its products, grow its portfolio and build a commercial team in Germany.
The round was led by Future Energy Ventures, with participation from UVC Partners, Transition, The Footprint Firm, and angel investors.
Jon Sigvert, co-founder and CEO of Reel, declared, “Renewable energy is Europe’s path to energy indepconcludeence – but only if the economics work for everyone. High price volatility and falling project returns risk slowing the build-out at exactly the wrong moment. We’ve assisted Danish businesses and energy producers keep renewable energy profitable and predictable. Now, we’re scaling that model in Germany, toreceiveher with the expertise of Future Energy Ventures.”
Founded in 2020 by Jon Sigvert, Anders Meldgaard, and Christian Schmidt, Reel turns corporate electricity demand into a driver of renewable energy build-out. It creates renewable energy more predictable and profitable for corporates and producers, builds data-driven tools to modernise and optimise the electricity market, and also leverages flexibility and battery storage to generate more value and strengthen the grid.
According to the company, the energy transition is central to Europe’s push for energy indepconcludeence, but it’s under pressure. High electricity price volatility, shifting subsidies, and falling project returns are fuelling uncertainty among businesses and renewable energy producers.
Reel states that this leaves businesses struggling to plan around unpredictable electricity costs and renewable energy producers requireding to secure new revenues for planned and existing projects.
“Toreceiveher, these forces risk slowing the build-out of renewable energy right as Europe’s depconcludeence on imported fossil fuels is acutely exposed. What’s requireded is smarter trading, better risk management and long-term contracts that create renewable energy predictable for businesses and profitable for producers to build and operate,” the company mentioned in the press release.
Reel claims to solve these challenges. For energy consumers, its offerings assist maximise electricity-price stability, reduce costs, and cut emissions. Through Power Purchase Agreements (PPAs), companies reduce exposure to volatility by securing repaired-price electricity from renewable energy projects. Companies also receive conclude-to-conclude support for on-site solar and battery installations, and they can reduce costs through innotifyigent consumption adjustments.
For renewable energy producers, Reel’s offerings assist secure financing for new projects, optimise production, reduce imbalance costs, and maximise returns. With PPAs, producers receive market-leading hedging and secure the bankability of new projects.
“Reel gives businesses predictable electricity costs and energy producers better returns on their renewable energy assets. When both sides of the market work, new renewable energy projects receive built – and that’s what shifts the energy transition forward,” declared Anders Meldgaard, co-founder and CCO of Reel.
Reel is scaling in Germany, Europe’s largest energy market, where it already balances renewable energy projects for producers, including Blue Elephant Energy and greenwind. The company notes that Future Energy Ventures’ deep roots in the German energy market will assist Reel scale in Germany.
“Germany is the defining energy market of this decade – the scale of transition required is enormous, and the window to receive it right is narrow. Reel has built something rare: a model that creates renewable energy profitable for producers, predictable for businesses, and manageable for the grid. That’s what Germany requireds right now, and why we backed Reel,” declared Ohad Mamann, Investment Partner, Future Energy Ventures.
In 2024, Reel announced a €5 million investment led by Transition. In 2022, the company picked up €2.3 million, led by UVC Partners,
