ENODA

About ENODA

Edinburgh-based ENODA Ltd., founded in 2021, is an energy technology company focused on enhancing the stability and capacity of electricity grids to support the shift to renewable energy. The company was established by a team with prior collaboration in energy technology ventures: Andrew Scobie (Chief Technology and Product Officer), Jennifer Urquhart (Chief Operating Officer), Jacqui Porch (Chief Markets and Communications Officer), and Paul Domjan (Chief Policy and Global Affairs Officer). The founders bring a diverse and relevant skill set to the venture. Andrew Scobie has a background in economics, design, and complex systems, with previous roles at advanced engineering firms and public policy involvement in Australia. Jacqui Porch has over 15 years of experience in strategic branding and communications for tech and consumer product companies across global markets. Jennifer Urquhart contributes 18 years of experience from Edinburgh's financial sector, specializing in compliance and regulatory requirements. Paul Domjan offers extensive experience in energy policy, having served as the first Energy Security Adviser to the U.S. European Command of the Department of Defense.

ENODA is developing an integrated hardware and software platform to address the intermittency of renewable energy sources like wind and solar, aiming to make the grid self-balancing. The company's business model centers on licensing its technology to established power systems Original Equipment Manufacturers (OEMs). Its primary clients are grid operators and developers who need to manage the transition to decarbonized energy systems. By tackling issues of grid instability, ENODA aims to reduce the reliance on fossil-fuel peaking power stations, thereby lowering balancing costs. The company has secured significant funding to advance its technology, raising a total of $30.9M over three rounds, including a Series A round of $24.9M in June 2023.

The company's core offering consists of two main products: the Enoda PRIME® Exchanger and the Enoda ENSEMBLE™ platform. The PRIME® Exchanger is a hardware and embedded software solution designed to be installed in existing electricity substations. It functions by dynamically correcting the power signal in real-time, modulating frequency and voltage, and removing noise and harmonics introduced by volatile renewable sources. This improves power quality and increases the capacity of distribution grids. The ENSEMBLE™ platform is a software solution that uses a distributed control protocol, including blockchain technology, to coordinate fleets of PRIME® Exchangers and other smart grid devices. This coordination allows the network to act as a unified, intelligent system, balancing power flow and managing variable supply and demand without a central controller, thus enhancing cybersecurity and system resilience.