{
  "id": 1904978,
  "title": "Reykjavik’s SnerpaPower lands €3.4 million to help power-intensive industries turn electricity into a competitive advantage",
  "url": "https://urgent.news/2026/08/19/reykjaviks-snerpapower-lands-3-4-million-to-help-power-intensive",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-19T09:07:58.000Z",
  "source": {
    "name": "EU-Startups",
    "slug": "eu-startups",
    "url": "https://www.eu-startups.com/2026/08/reykjaviks-snerpapower-secures-e3-4-million-to-help-power-intensive-industries-turn-electricity-into-a-competitive-advantage/"
  },
  "original_language": "en",
  "account": "Reykjavik-based DeepTech company SnerpaPower has raised €3.4 million in funding to expand its operations across Europe. The investment round, led by Encevo, includes participation from existing investors Crowberry Capital and BackingMinds, as well as a €0.4 million grant from the Icelandic Technology Development Fund. SnerpaPower's AI-powered energy management software is designed to help power-intensive industries turn electricity into a competitive advantage by connecting operations with electricity contracts and markets in real time. The platform helps customers forecast demand, predict when flexibility can be safely utilized, and automate electricity sourcing strategies, enabling them to reduce costs, improve planning accuracy, and generate additional revenue from flexible electricity use. SnerpaPower's solution is already deployed at approximately 15 Nordic industrial sites and manages over 10 TWh of industrial consumption annually. The investment aims to support the company's expansion into additional European markets and further development of its forecasting, automation, and market-integration capabilities.",
  "summary": "SnerpaPower, a Reykjavik-based DeepTech company developing energy management software for power-intensive industries, has secured €3.4 million to accelerate its European expansion. The funding includes a €3 million Seed investment led by Encevo, a regional leader and a key player in Luxembourg’s energy transition, with continued participation from existing investors, Crowberry Capital and…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}