Electron

Based in the UK, Chaddenwych Services Limited specializes in leveraging technology to enhance the efficiency and reliability of energy markets through innovative solutions for Distributed Energy Resources (DERs). Chaddenwych Services Limited is a technology firm focused on optimizing energy markets. Founded in 2015 in London, UK, the company has successfully closed 5 deals with its latest round of funding occurring on 07 July 2023. The company raised GBP 4.

80 million in a funding round led by East X, with participation from Nesta, OnePlanetCapital, and Riverstone Holdings. To date, the total amount raised by Chaddenwych is GBP 4. 80 million, with a current valuation of GBP 14. 775 million.

The founders, Jo-Jo Hubbard and Paul Ellis, have a background in energy technology, contributing to the strategic vision of the company. Ben Fisher currently serves as the CEO. Electron’s primary offering is the ElectronConnect platform, a dynamic market platform designed to facilitate local flexibility markets that coordinate and scale Distributed Energy Resources (DERs). This platform supports utilities and DER operators in enhancing grid reliability and affordability by enabling the creation, operation, and participation in various flexibility markets.

ElectronConnect provides utilities with configurable market templates that allow them to engage in requests for multiple flexibility products and services seamlessly, thereby encouraging market participation. The platform also aids flexibility providers by offering visibility over market locations and activities, effectively removing barriers to participation. Electron primarily serves the energy sector in the United Kingdom and is actively expanding its reach into other European markets, including regions that are increasingly adopting low-carbon technologies. Electron operates through a B2B transactional model, engaging directly with utility companies and DER operators.

Revenue generation is facilitated through subscription-based arrangements for access to the ElectronConnect platform, where utilities and energy providers pay for varying levels of service and market participation capabilities. This includes potential revenue from partnerships with local energy networks, which utilize Electron’s technology to deploy live markets tailored to their specific grid needs. Clients may incur costs associated with the configuration and maintenance of market templates, ensuring continuous operational support. The transaction structure established by Electron enables efficient scaling of local flexibility markets while maximizing the value derived from flexibility assets across its client base.

In July 2023, Electron raised GBP 4. 80 million in venture funding led by East X. This funding will be utilized to further develop its product offerings, enhance its team, and expand its geographic footprint. Electron is focusing on launching new features in its ElectronConnect platform to better serve its clients and plans to target additional growth opportunities in European markets, particularly in areas adopting low-carbon technologies.