Storio is a French startup that focuses on providing smart energy storage solutions for commercial and industrial customers. Founded in 2023, the company recently raised a €5 million seed round and has already secured its first client. The startup believes in the bright future of solar panels and aims to optimize their production by pairing them with batteries.
Unlike traditional battery companies, Storio takes a unique approach by partnering with battery suppliers and civil engineering firms to offer energy storage installations. By remotely managing the batteries, Storio can optimize energy consumption and storage, allowing clients to save money and reduce reliance on the grid during peak hours. This innovative approach has helped businesses lower their electricity bills and mitigate risks associated with energy market fluctuations.
Storio’s batteries are certified in France to contribute to the stabilization of the grid, enabling the company to generate revenue by releasing energy back into the grid during peak demand periods. This not only benefits the grid but also provides an additional income stream for Storio’s clients. The company estimates that customers can see a return on investment within five to six years, with batteries lasting up to 15 years.
One key aspect of Storio’s proposition is energy trading, which can significantly accelerate the return on investment for clients. By participating in energy trading, Storio can help clients offset the costs of their energy storage installations more quickly. The company also emphasizes the importance of aligning interests with its industrial partners to ensure a fair profit-sharing agreement.
In addition to its seed funding round led by Lowercarbon Capital and Bpifrance’s Large Venture fund, Storio has attracted investments from Kima Ventures and several prominent business angels. The company’s innovative approach to energy storage has garnered attention from investors and positioned it well to expand into other European markets in the future.
While other companies like GridBeyond, Stabl, and Stem are also working on battery management solutions, Storio’s focus on optimizing energy flows and generating additional income sets it apart in the market. With its unique distribution strategy and emphasis on energy trading, Storio is poised to make a significant impact on the commercial and industrial energy storage sector in France and beyond.
