PORTFOLIO
Snerpa Power
We invested in SnerpaPower because AI is turning energy into a strategic advantage - and SnerpaPower gives power-intensive industry the tools to use it.
AI is driving electricity demand faster than ever, and energy is becoming the most important strategic resource for companies. At the same time, Europe’s electricity market is more volatile than ever. Prices can swing sharply within a single day, which makes electricity a growing and less predictable part of operating costs for aluminium and metals producers, data centres and other manufacturers. Most of them still have no way to link production to market movements in real time, so they lose both savings and revenue. Reykjavik-based SnerpaPower was founded to solve exactly that problem.
Team
SnerpaPower is led by CEO and co-founder Íris Baldursdóttir and CTO and co-founder Auður Vésteinsdóttir. Gabriella Edberg leads the company’s work in the Swedish market.
“Power-intensive industries can no longer treat electricity as a fixed operating cost. Companies that can adapt to changing market and grid conditions gain a significant competitive advantage,” says Íris Baldursdóttir, CEO and co-founder of SnerpaPower.
“Every operational constraint has to be respected while responding to changing electricity markets in real time. Our goal is to make advanced electricity optimisation simple for industrial customers, no matter how complex their operations are,” says Auður Vésteinsdóttir, CTO and co-founder of SnerpaPower.
Backers' perspective
Industrial electricity is one of the biggest costs in Europe’s economy, yet one of the least optimised, and the energy transition is only making it harder to manage. SnerpaPower’s AI platform connects industrial operations with the electricity market in real time. It forecasts demand, shows when to save energy and automates electricity purchasing. That lets customers cut costs and open new revenue streams without touching production. The platform already manages more than 10 TWh of industrial electricity a year, which is over 1% of all electricity used by EU industry.
“Electricity is becoming an increasingly strategic resource for industry, and SnerpaPower is leading this emerging category. Íris and Auður combine a deep understanding of power markets with technology that works in the real, complex reality of heavy industry - exactly the kind of founders we back,” says Sara Wimmercranz, Founding Partner at BackingMinds.
As SnerpaPower expands across Europe, it is set to become the link between heavy industry and the electricity market.