By Abbas Nazil
Rome-based cleantech startup Renewcast has secured €1 million in a SAFE investment round led by 2C Ventures Fund I, marking a significant milestone in the company’s efforts to expand its global footprint in renewable energy forecasting.
The latest funding builds on Renewcast’s 2024 SAFE round and is aimed at accelerating the company’s commercial rollout worldwide.
With this new capital, Renewcast plans to strengthen its position as a leading provider of renewable forecasting technology, consolidate its technical team, and scale operations across Europe, the United States, Latin America, and Asia.
Founded in 2020, Renewcast specializes in high-precision renewable energy forecasting solutions powered by proprietary artificial intelligence and digital twin technology.
By modeling chaotic weather patterns and asset conditions, the company provides intra-day, day-ahead, and multi-day forecasts with exceptional accuracy.
The company has demonstrated its ability to outperform traditional legacy systems, consistently achieving 20% to 40% higher forecasting accuracy.
This improvement translates into significant economic benefits for its clients, generating millions of euros annually through reduced balancing costs and improved grid stability.
Renewcast’s growing list of clients includes utilities, grid operators, and renewable asset managers across Europe and the United States.
Currently, the company manages more than 1.8 gigawatts of installed renewable capacity for active clients and is engaged in over ten pilot programs alongside four commercial agreements.
Its competitive landscape includes players such as Amperon and Solcast, but Renewcast’s strong focus on artificial intelligence and advanced digital twin modeling provides it with a distinctive edge.
The startup experienced remarkable growth of more than 2.5 times in 2024 and is preparing for a Series A funding round targeted for late 2026.
The current SAFE round remains open for additional investors, with capacity for another €1 million, signaling ongoing momentum in its fundraising strategy.
Renewcast also has its eyes on emerging markets, with plans to expand into India and other parts of Asia, regions that are increasingly prioritizing renewable energy integration into their power systems.
The funding not only supports Renewcast’s ambitions but also highlights investor confidence in AI-driven energy forecasting as a critical enabler for renewable energy adoption worldwide.
As more countries move toward net-zero targets, the need for accurate and cost-efficient forecasting tools has become central to managing variability in renewable energy generation.
By delivering scalable and precise forecasting solutions, Renewcast is positioning itself as a transformative player in the renewable energy ecosystem, contributing to grid stability, reduced emissions, and broader adoption of clean energy technologies globally.
