Berlin Startup Nextract Energy Secures €500K to Tackle German Renewable Energy Curtailment
Berlin-based startup Nextract Energy has secured over 500,000 euros in a pre-seed funding round. The company aims to tackle the issue of power curtailment in Germany's renewable energy sector.
Every year, substantial amounts of power from wind and solar plants are forced off the grid due to overloads. Nextract Energy's solution uses machine-learning software to predict these curtailments based on expected network load and weather conditions. Instead of wasting this excess energy, the software redirects it to electrolyzers, enabling the production of green hydrogen.
In a pilot project, Nextract Energy is working with a Block-Heiz-Hydrogen power plant to ensure optimal power purchase and conversion into hydrogen and heat. With the amount of energy curtailed last year, up to 115,000 tons of green hydrogen could have been produced. The pre-seed financing round was led by Business Angels from the Companisto Angel Club and the Hamburg-based venture capital firm BPO Capital, and was announced in early September 2024. The raised capital will be used to bring the software to market maturity.
Nextract Energy's innovative solution has the potential to significantly reduce energy waste and boost green hydrogen production in Germany. With the support of its investors, the startup is poised to bring its technology to market, contributing to a more efficient and sustainable energy landscape.
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