The startup develops a renewable energy platform that connects users to low-cost solar and wind power through battery-backed systems and direct contracts with energy generators. This approach provides sustainable energy solutions for individuals, regardless of their living arrangements or future relocations.
Funding
$330K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses and homeowners face high electricity bills and contribute to carbon emissions by relying on traditional energy sources. Installing on-site renewable energy systems can be expensive and impractical for renters, apartment dwellers, and businesses lacking capital or suitable space.
Solution
Mangrove Energy provides access to renewable energy through direct contracts with solar and wind farms, coupled with utility-scale battery storage. For residential customers, Mangrove supplies renewable energy via the National Grid, eliminating the need for on-site installations and allowing customers to benefit from renewable energy regardless of their living situation. For businesses, Mangrove installs intelligent battery systems at their premises and uses a proprietary algorithm (REBA™) to optimize charging and discharging based on energy prices and grid emissions. This approach enables businesses and homeowners to reduce their electricity bills, lower their carbon footprint, and gain greater control over their energy supply.
Target Audience
Mangrove Energy serves residential customers seeking affordable renewable energy and businesses aiming to reduce energy costs and carbon emissions without significant capital expenditure.
Features
- Direct contracts with renewable energy generators (solar and wind farms) to secure low-cost energy.
- Utility-scale battery storage to provide continuous renewable energy supply, even when solar and wind generation is intermittent.
- Proprietary REBA™ algorithm for intelligent battery management, optimizing for cost savings or carbon reduction.
- Fixed-cost per kWh pricing options for predictable energy expenses.
- Compatibility with existing electricity suppliers for businesses, or Mangrove can act as the supplier.
- No upfront investment required for battery system installation for business customers.
- Scalable solutions for businesses using 25KW to 1MW of electricity per day.