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					</table><a href="https://shatterdome.energy/" target="_blank" rel="noopener">Shatterdome Energy</a>, an AI-driven energy trading and virtual power plant startup, has raised $3.5 million in pre-seed funding to develop an energy trading platform for renewable energy operators, utilities, and large power consumers.
The round was led by Crucible Capital, with participation from Transpose Platform and Entrepreneurs First.
The company said its platform is designed to help customers respond to volatility in electricity markets by coordinating renewable generation, battery storage, and flexible industrial demand through a virtual power plant network.
Shatterdome plans to use the new funding to deploy its core AI forecasting and dispatch platform, scale VPP asset integrations, and expand its presence in North American and European markets.
The company said it is working with early partners across energy trading and infrastructure markets, and has moved 200 mWh of power in three months after inception, with 1.5 GW of assets in the pipeline.
“Every great industrial buildout in American history – the oil industry, railroads, the internet – was unlocked by incredible feats in technical engineering coupled with novel innovations in financial engineering,” said Meltem Demirors, General Partner at Crucible Capital. “At Crucible, we are capital markets maximalists.”
He said Amann Shariff, founder, has the rare combination of systematic trading DNA and deep ISO market expertise to build the risk management tools to reshape power grids by leveraging America’s greatest strength: its robust capital markets.
In October 2025, a renewable energy intelligence company, Smart Grid Analytics, <a href="https://cms.mercomindia.com/smart-grid-analytics-raises-3-3-million-from-strategic-investors/" target="_blank" rel="noopener">raised</a> $3.3 million (~₹289.75 million) in funding from strategic investors and clean energy veterans worldwide. The funding will be used to develop technology to make renewable power projects more intelligent, efficient, and autonomous, enabling grids to meet and exceed renewable energy targets.
VC funding for Smart Grid companies increased 8% year-over-year, with $373 million raised in 14 deals in Q1 2026 compared to $346 million in 18 deals in Q1 2025, according to Mercom’s recently released Q1 2026 Smart Grid Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-funding-ma-report-smart-grid/" target="_blank" rel="noopener">report</a>.

Energy Trading Startup Shatterdome Energy Raises $3.5M Pre-Seed Funding

<a href="https://www.fever.energy/" target="_blank" rel="noopener">Fever</a>, a provider of an API-centric platform for virtual power plants, raised €10 million (~$10.7 million) in a seed funding round led by General Catalyst, with participation from previous investors, including La Famiglia and Norrsken VC.
The funding will be used to accelerate Fever’s expansion plans, deepen product development, and expand collaborations across Europe. This round brings the company’s total amount of funding to €11.6 million (~$12.4 million).
With the surge in renewable energy sources alongside electrification, the variability in energy generation and consumption is putting stress on traditional grids. Fever aims to resolve this issue using its platform to enhance grid resilience by integrating distributed energy assets with advanced software and machine learning capabilities.
Fever’s API-centric platform provides energy asset installers and operators, including leading utility companies, EV fleets, and Battery Energy Storage Operators, to run and monetize their virtual power plants by unlocking the potential of market participation, capacity modeling, orchestration, reporting, and settlements.
In tandem with this financing, Niek den Hollander, former Chief Commercial Officer at Uniper and former Senior Vice President and Head of Vattenfall’s Business Area Markets, and Holger Lichtschläger, Managing Director and Founder of Global Experts-Energy Consulting with prior executive positions at E.ON and Uniper, will be joining Fever’s Board of Directors.
According to Mercom’s Annual and Q4 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid. VC funding in the Smart Grid sector decreased 55% YoY, with $1.5 billion in 47 deals in 2023 compared to $3.3 billion in 46 deals in 2022.
Camus Energy, a grid orchestration platform, <a href="https://cms.mercomindia.com/camus-energy-secures-25-million-series-a-funding/" target="_blank" rel="noopener">secured</a> over $25 million in Series A funding after closing its $10 million extension. The round was co-led by climate firm Congruent Ventures and marketplace investor Wave Capital, with participation from Align Impact, Remarkable Ventures Climate fund (RVC), and Groundswell Ventures, alongside Congruent and Wave’s Limited Partners.

Grid Tech Company Fever Raises $10.7 Million Seed Funding

<a href="https://www.swellenergy.com/" target="_blank" rel="noopener">Swell Energy</a>, an energy management and grid solutions provider, acquired <a href="https://renuenergysolutions.com/" target="_blank" rel="noopener">Renu Energy Solutions</a>, a company that offers customized residential and commercial solar and energy storage solutions. The combination brings together a complementary set of operational and technological capabilities as well as a bi-coastal presence to enable the deployment of Virtual Power Plants (VPPs) in key energy markets.
Renu Energy Solutions is a solar energy systems installer operating across the Southeast, specializing in turn-key solar solutions for residential and commercial properties. According to the company, it serves North Carolina, South Carolina, and Georgia and has completed over 5,000 solar energy installations in the Southeast.
The acquisition includes Renu’s solar and storage maintenance subsidiary, Sun Service Specialists, which serves both Renu and non-Renu customers, ensuring the performance, longevity, and safety of many distributed energy resources (DERs) across the East Coast.
Renu will act as a regional center for Swell’s partner program, which gives other solar companies access to resources, tools, products, and services that help them get customers, manage supply, use software, finance projects, and grid services offerings. They can also join Swell in developing VPPs.
“With the growing demand for renewable energy in the region, this transaction marks a pivotal milestone for both companies in furthering our shared mission to enable retail customers and utilities to collaboratively benefit from DERs,” said Suleman Khan, CEO of Swell. “With Renu’s market leadership, there is an opportunity for us to work with interested utilities from the outset. Together, we are exploring how virtual power plants can enhance local grid needs and bring cost savings, greater resiliency, and climate benefits to the communities we now collectively serve.”
According to Mercom’s Q4 and Annual Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, M&amp;A activity declined 25% YoY with 96 corporate M&amp;A transactions in 2023 compared to 128 in 2022.

Swell Energy Acquires Solar and Storage Installer Renu Energy Solutions

<a href="https://www.swellenergy.com/" target="_blank" rel="noopener">Swell Energy</a>, a provider of virtual power plant (VPP) programs for homeowners and businesses, raised $120 million to accelerate the deployment of its VPP programs across the United States.
SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund I led the investment round with participation from an Ares Infrastructure Opportunities fund and Ontario Power Generation Pension Fund.
Including the latest round, Swell Energy has raised a total of $152 million in funding to date, including previous investments by Ares Infrastructure Opportunities fund, Aligned Climate Capital, Third Sphere, and others. Citi was the sole placement agent for this transaction.
Swell Energy provides software solutions and VPP programs that can accelerate the mass adoption of distributed clean energy technologies by enabling consumers to take control of their energy use and cost, achieve energy security, and participate in the transactive grid.
With the funds, Swell Energy plans to develop 600 MWh of VPPs through the deployment and aggregation of 26,000 energy storage systems located at homes and businesses across the United States.
Swell VPPs provide services across Hawaii, California, and New York. The VPPs help utilities deliver cleaner energy to customers and reduce the grid’s dependence on fossil fuel peaker plants.
Businesses and residential consumers participating in Swell’s VPP program are benefited by paying less for their solar energy generation and storage systems and reducing the risk of a power outage in their area. Homeowners with solar and energy storage systems support the reliability of their local grids while reserving battery power for personal emergency use.
“Utilities and investors have understood the importance of virtual power plants for some time now; this funding further signals that the capital markets see tremendous value in this new asset class,” said Suleman Khan, CEO of Swell Energy.
“Swell’s business model is an innovative application of existing technology directly solving two large issues plaguing the grid and renewable energy adoption: transmission and load shifting,” said Ben Baker, Managing Director and Principal of Greenbacker Development Opportunities Fund.
According to Mercom’s 9M And Q3 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">Report</a> for Storage, Grid &amp; Efficiency. VC funding in Smart Grid companies in 9M 2022 was 162% higher, with a record $2.5 billion compared to the $936 million raised in 9M 2021.

Swell Energy Raises $120 Million for Virtual Power Plant Deployment

<a href="http://www.toshiba.co.jp/worldwide/index.html" target="_blank" rel="noopener noreferrer">Toshiba</a>, a Japan-based conglomerate, announced that it would not take any new orders for the construction work of coal-fired thermal facilities. The company is planning to shift towards renewable energy solutions.
Toshiba said that it would seek to reduce its greenhouse gas emissions by 50% by 2030 from its base level of 2019. It also has plans to expand its renewable energy business to 650 billion yen (~$6.17 billion) by 2030, from 190 billion yen (~$1.80 billion) in 2019.
“We are planning to build a state-of-the-art windmill domestically to add wind power as a new area of focus. To prepare ourselves for future energy storage demands, we are developing secondary batteries and participating in a world-class pilot program in Fukushima, Japan. With respect to carbon dioxide utilization, we commence the operation of a large-scale carbon capture facility in Fukuoka, Japan,” said Nobuaki Kurumatani, President and Chief Executive Officer of Toshiba.
According to Toshiba, the company will support the infrastructure sector&#8217;s transformation to achieve decarbonization goals. It also aims to commercialize its newly developed next-generation tandem and perovskite solar cells by 2025.
Toshiba recently established a new company with a European virtual power project operator Next Kraftwerke for its virtual power business.
This comes on the heels of a recent <a href="https://mercomindia.com/after-china-japan-pledge-carbon-neutral/" target="_blank" rel="noopener noreferrer">announcement</a> by Japan, the world’s third-largest economy,  that it plans to become carbon-neutral by 2050.
Coal is losing its ground as several companies are ending their support for new coal-fired power facilities. Recently, Germany’s Siemens Energy also <a href="https://mercomindia.com/siemens-energy-to-stop-support/" target="_blank" rel="noopener noreferrer">announced</a> that it would stop support for new coal-fired power projects.
Similarly, General Electric (GE), a U.S.-based multinational conglomerate, <a href="https://mercomindia.com/general-electric-ditch-coal/" target="_blank" rel="noopener noreferrer">announced</a> its plans to exit the new build coal power market. The company said that it would focus and invest in its renewable energy and power generation businesses.
Mercom earlier <a href="https://mercomindia.com/ntpc-stop-land-acquisition-coal-projects/" target="_blank" rel="noopener noreferrer">reported</a> that India’s largest coal-fired power generator, NTPC Ltd, also aims to transform itself into the country’s biggest renewable energy producer and refrain from acquiring land for new thermal power projects.

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