Piclo develops software platforms that enable participation in energy flexibility markets, including Piclo Max (a market access platform for flex sellers) and Piclo Flex (a flexibility services marketplace for system operators). The company supports flex sellers such as EV and battery owners to access multiple electricity markets from one place. Piclo reported over 300,000 registered flexible assets representing 22 GW of registered flex capacity, with flexibility contracts awarded totalling £74M and more than 2.6 GW of flexible capacity procured. It currently operates across six global markets, supporting all six UK distribution system operators and the ESO, and working with networks in Ireland, Italy, Portugal, Australia and parts of the United States (New York State and Connecticut). Led by CEO James Johnston, Piclo plans to use the newly raised funds to expand further into additional areas of the United States and Australia. The announcement did not disclose the amount raised or the financing instruments. Piclo operates Piclo Flex, an independent marketplace for energy flexibility services that enables system operators (e.g., National Grid ESO and UK Power Networks) to source flexibility from providers such as EVs. The company supports business-as-usual flexibility procurement in six markets including the UK (UK Power Networks, SP Energy Networks, Electricity North West, National Grid ESO), Ireland (ESBN), Italy (E-Distribuzione), Portugal (E-REDES), Lithuania (Energijos Skirstymo Operatorius AB) and New York State in the United States. As of 2022 Piclo has over 55,000 flexibility assets registered, flexibility contracts awarded totalling more than £57m, 16.6 GW of flex capacity registered and 1.1 GW of flexible capacity procured. Founded in 2013 by James Johnston, Andy Kilner and Alice Tyler and based in London, Piclo plans to use the new funding to strengthen its position in the UK and Europe and to grow its international presence in the US and Asia-Pacific. The company focuses on enabling system operators to source energy flexibility during times of high demand or low supply via its marketplace.

Total raised

$10M

Funding rounds

2

Latest round

Series B

Latest activity

Mar 2023