Driven by a booming energy storage market, Aurora's Grid has just experienced the most active 9 months in its history. Thanks to its novel solution, the EPFL Innovation Park startup led by Dimitri Torregrossa helps reduce CO2 emissions by 40%, extend battery lifetime by 40% and increase revenues of 50%.
As energy storage needs boom worldwide, Aurora’s Grid is facing unprecedented demand. Today the startup is generating revenues and proposing industrial versions of its Energy Management system (EMS) for Multiple Applications today called EMMA (his second daughter’s name). CEO and founder Dimitri Torregrossa explains to Startupticker.ch the last 9 months have been the most productive so far and q1 2022 the best ever. Today the EPFL startup has more than 10 EMS with industrial licenses to its credit. And it’s just the beginning.
As the passionate founder further explains: “90% of Aurora’s Grid revenues have been done in Switzerland and we are so proud of it! We started collaboration with an energy integrator in Norway working with second life battery and we have a close deal in Bangkok.” He notes that 4 years ago, the market was not ready for large deployment of battery. Today this has changed, Aurora’s Grid business model is viable and their product is “just in time”
A new focus and an efficient partner
Last 9 months, Aurora’s Grid market segment changed and the startup is now focused on 2nd-life battery storage integration as well the so called “building-as-a grid”, namely building equipped with PV and fast charge station of EV. “Aurora’s Grid takes care of everything!” says the CEO enthusiastically.
Siemens is today the company’s main channel partner. Aurora’s Grid deploys nowadays their industrial controller integrating the startup’s algorithm. The company is extremely fast and accurate to satisfy Aurora’s Grid request and it offers multiple industrial controllers with different performances. This allows the startup led by Dimitri Torregrossa to choose the right product for the right application.
Future perspective
Aurora’s Grid recently engaged a business developer and has now 4.2 FTEs working in the company. The startup is looking for a CHF 3M series round of investment… but they are not under pressure. The CEO and founder adding: “Sometimes I think that if I had received such an amount 2 years ago today we will be bigger but I’m extremely satisfied about the commercial traction we achieved.”
Speaking of product development, the startup intends to enhance its structure to scale and develop its ability to license more every year. One of the main enhancement made during the 2020 pandemic was the cloud connection and today the company is capable of commissioning its system from its office at 3’000 km distance: this reduces a lot the company’s cost and increase its benefit.
For the time being Aurora’s Grid is not providing the battery hardware but makes the connection with the provider. Today, the team is thinking about proposing a completer turn-key solution integration for both hardware and software … and something “is cooking” says the CEO adding “My dream will be to see once a battery container with our logo on it but for the moment we can accept to have it just on the controller”.
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