Overview
Problem
Utilises AI to optimise grid-connected battery storage, enhancing energy efficiency, grid reliability, and asset ROI.
The increase in data centres to support AI, and growth in electric vehicles, are a few of the factors putting significant strain on the grid. Hence, global grid infrastructure needs to more than double by 2050 to meet the rapid increase in electricity demand. Battery energy storage is one of the key technologies being used to support the grid and businesses who experience grid constraints, demonstrated by the 94% increase in battery energy storage systems (BESS) in 2023 compared to 2022 seen in Europe.
Solution
Rewbi is a climate tech startup which uses AI to optimise grid-connected battery storage, generating revenue by charging when electricity is cheaper, and discharging when it is more expensive. Rewbi leverages AI to improve efficiency and revenue generation for power companies and battery asset owners, by reacting significantly faster to live market changes. Rewbi has a straightforward, scalable business model, where they rent out battery storage for a fixed fee, providing a stable and predictable revenue stream. Additionally, they generate 2x the revenue of that fee.
Market
The energy storage market is expected to increase 20x by 2030 according to BloomBergNEF. This is driven by the transition towards renewable energy and the desperate need for grid stability to sustain this transition. Rewbi taps into the growing demand for renewable energy and grid efficiency, particularly as more intermittent renewable energy sources (like solar and wind) come online.
Founders
Founders, Thomas and Derek, have a total of 18+ years of experience in combining energy and AI. Thomas (CEO) has founder experience having previously founded another Y Combinator company which was acquired, from which he also gained expertise in battery storage optimisation. Derek has experience as a ML engineer at Meta and has built AI models which has raised over $400m in capital. Their combined sector expertise, business acumen, and previous founding expertise is a positive track record and indicator of a credible founding team to take Rewbi to its full potential.
Thomas Marge
CEO
Derek Modzelewski
CTO
Summary
All in all, I believe Rewbi is well positioned in a market with significant growth potential driven by environmental and sustainability legislations. The ability to automate and streamline energy storage makes their business highly scalable, and the impressive profit margin demonstrates a robust business model to enable a self-sustaining business. Additionally, Rewbi has a seasoned founding team, backed by YC, with a strong track record, deep sector expertise, and business acumen.