Founded in 2021 in Hämeenlinna, Finland, Exaum is a Finnish company committed to accelerating the green energy transition. The company is focused on delivering cost-effective and flexible grid-balancing solutions to facilitate the widespread adoption of variable renewable energy sources, such as wind and solar power.
The rising adoption of renewable energy sources, while commendable, has posed significant challenges due to the inherent variability and unpredictability of these sources. This unpredictability can lead to imbalances in the electricity grid, resulting in disruptions and increased operational costs.
Exaum’s response to these challenges is its Primary Balancing solution utilizing AI-controlled heating elements to absorb excess energy when renewable energy production exceeds demand. The hardware is specifically designed by its engineers to primarily balance the electrical grid, while Exaum’s software team develops its proprietary software to control the assets. It can be said that Exaum is a software company enabled by hardware.
Meet the Team: United by a Shared Vision
Exaum, led by its executive team of Henri Yoki, Panu Ahola, Paolo Micheletti, Anna Nieminen and Piritta Ojanperä, shares a common vision of overcoming the challenges posed by large-scale renewable energy adoption into the grid. Leveraging their extensive expertise in energy markets, grid balancing and AI technology, they rely on a robust professional network.
Fearless thinking and a commitment to exploring fresh perspectives drive Exaum’s business approach, leading to groundbreaking solutions like Primary Balancing.
Sustainability Commitment: Towards Green Energy Transition
Exaum is firmly dedicated to advancing the green energy transition. In their view, grid balancing is pivotal in facilitating large-scale adoption of variable renewable energy sources. Their impact on sustainability is evident in their efforts to reduce reliance on fossil fuels and lower renewable energy costs for consumers. The company measures its sustainability impact through increased deployment of renewables and reduced greenhouse gas emissions.
Future Outlook: Exciting Times Ahead
Participating in the Urban Tech Helsinki program has been provided invaluable opportunities for strategy development and networking. Notably, their involvement also resulted in an invitation to represent the Nordics in the Nordic Startup Tech Investor summit in New York City earlier in 2023.
In the near term, Exaum is set to launch its first AI-optimized Megawatt of balancing capacity, marking the initial step in scaling their heat-generation-based power demand response technology — a pioneering solution in the green energy transition. Additionally, the team is exploring the integration of redox batteries with their existing technology.
For 2024 and beyond, Exaum has set ambitious goals, including expanding its grid-balancing facilities and showcasing their innovative solutions on a global scale. Their aim is to generate substantial revenue and play a significant role in the green energy transition. Exaum is actively seeking investors, partners and talented individuals with expertise in energy, utilities, climate technologies and cleantech, to join them on their mission.
Come and hear team Exaum pitch at our annual Startup Spotlight event on 1.12.!
Learn more: www.exaum.com