ENODA raises $6m in pre-Series A funding

ENODA, a UK-based start-up commercialising technology to balance and stabilise grids with high and rising levels of renewable energy, raised $6m in pre-Series A funding from a number of energy-specialist investors, including current ENODA investors.

ENODA provides a fundamental, full-stack solution to system stability that is backwards compatible with the existing technical, market and regulatory structure of the electricity system. ENODA, which licenses its technology to established power systems OEMs, is on track to deliver its first commercial-specification devices into the European electricity network in the first half of 2023 and begin at-scale commercial deliveries in the second half of 2023.

ENODA is led by Paul Domjan (CEO), Andrew Scobie (Chief Technology and Products Officer), Jennifer Urquhart (COO), and Jacqui Porch (Chief Communication and Markets Officer), who are all experienced energy and technology sector professionals. They are supported at board level by non-executive Chair Lindsay Whitelaw, co-founder of Artemis Investment Management LLP, and non-executive Director Chuck Watson, founder of Dynegy and former Director of Mainstream Renewable Power and Baker Hughes. The ENODA founding team have collaborated in previous energy technology ventures and have a track record of successful hardware and software innovation and commercialisation.