Modo Energy, a software-as-a-service (SaaS) platform specialising in data analytics for grid-scale battery energy storage assets, is gearing up to launch its service for the Australian market.
Founded in 2019, Modo provides grid-scale battery energy storage system analysis. The London-based company delivers to battery storage owners and operators information about revenue, performance, price forecasts, real-time data and research via its subscription-based platform. Users can access data analytics, downloadable data, and educational material.
The move to Australia follows its expansion into the United States, where Modo currently offers its services to the and Electric Reliability Council of Texas (ERCOT) electricity grid.
Wendel Hortop, market lead at Modo, said the company’s Australian office will be open for business in the fourth quarter of 2024, offering the same services as in the Great Britain and ERCOT energy markets.
“Australia is one of the fastest-growing battery energy storage markets worldwide with 8 GW of new capacity expected online over the next three years and Modo is expected to support this growth through our battery-focused data and insights,” he said.
The Australian expansion comes after Modo raised more than $21 million (USD 15 million) in December 2023 to finance new product development and develop international markets.
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