Edinburgh-based startup Continuum Industries has secured £8 million (approximately $10 million) in funding to further develop its AI-driven energy transition platform, Optioneer.
The Series A funding round was led by Singular and saw participation from previous investors, including Credo, Playfair, Techstart Ventures, and several angel investors. Continuum intends to utilize the funding to double its team size and expand its operations into new European and US markets within the next year. This funding round follows a previous seed round in which Continuum raised £1.5 million in May 2020.
Established in 2018, Continuum’s Optioneer platform is used by energy companies, including power, utility, and renewables firms, to assess the most efficient routing options for various energy types, including power lines, onshore and offshore cables, and pipelines for hydrogen, water, and CO2.
The innovative platform employs artificial intelligence to significantly streamline the energy transition process. Continuum claims that its technology can reduce the average year-long transition process to just eight weeks. The company’s clientele includes major industry players such as National Grid, SSEN Transmission, National Gas Transmission, and the Iberdrola Group.
Grzegorz Marecki, CEO, and co-founder of Continuum, emphasized the critical importance of rethinking global energy infrastructure to meet climate goals efficiently. He noted that automated infrastructure planning processes, such as those provided by Continuum, have a pivotal role to play in this endeavor.
