Limerick, Ireland-based VIOTAS, a smart grid technology firm, has secured a €10M growth finance facility from Claret Capital Partners.
Claret Capital Partners is Europe’s largest independent growth debt fund manager. Since 2013, the Claret funds have backed over 180 SMEs from a wide range of geographies across Europe, empowering founders to scale with confidence.
“VIOTAS is a key player in energy flexibility markets globally,” says David Bateman, Managing Partner of Claret Capital Partners. “We are excited to support their next phase of growth as they build on their international success and continue to innovate in support of a more sustainable, responsive energy future.”
Fund utilisation
The Irish company will use the funds to enhance its international expansion and enhance its suite of services designed to provide revenue certainty for customers navigating volatile energy markets.
The new funding will support VIOTAS’s recent entry into the U.S. market, marked by the establishment of its first U.S. office in Houston, Texas, to serve the Electric Reliability Council of Texas (ERCOT) market.
The funding will help improve services in established markets like Australia, where changing prices can make earnings unstable for customers supporting the grid.
The Irish company is working quickly to create services that help customers handle these price changes, offering more consistent and long-term benefits for those involved in energy flexibility programs.
“Our partnership with Claret reinforces our strong growth trajectory and enables us to scale with further confidence as we expand to serve more customers globally,” said Prof. Paddy Finn, CEO of VIOTAS.
“Our expansion to date has been predominantly powered by the strength of our business. This facility provides additional firepower to move even faster—developing new technologies, entering new markets, and supporting customers with more resilient, value-generating services,” adds Finn.
VIOTAS: Pioneering gridware technology
Led by Paddy Finn, VIOTAS specialises in smart grid technology and demand-side flexibility services.
The company enables large energy users to support grid stability in real-time while earning new revenue from their energy assets.
The Irish company combines deep engineering expertise with proprietary technology to deliver fast, reliable, and scalable grid services.
VIOTAS supports global and national commercial and industrial partners, including, but not limited to, Pharmaceuticals, Manufacturing, Medical, AgriTech, and Food and Beverage.
As the energy transition speeds up, VIOTAS is helping businesses create value and build a more efficient and sustainable energy system.
