Irish smart grid demand response company Viotas has secured a €10m growth finance facility from Claret Capital Partners to fuel international growth and develop more services.

The funding will enhance Viotas’ capacity to improve revenue certainty for its customers in complex and often volatile energy markets.

This facility strengthens the firm’s momentum as it continues to scale across new and existing markets. Having largely self-funded its international growth to date through commercial performance, the company will now leverage this additional capital to deepen its impact and continue to broaden its service offerings.

The company recently established a foothold in the USA, marked by a November 2024 launch event celebrating its entry into the Texas Ercot market. The expansion requires technical capability and sustained investment in the systems, teams and infrastructure needed to operate at scale in a new market. This financing deal with Claret Capital Partners will further empower the company to execute on this and other investments.

The funding will also support progress in existing markets such as Australia, where price volatility can lead to variability in earnings for customers providing grid support. Viotas is accelerating the development of services that help customers navigate these fluctuations by unlocking more stable, long-term value for participating in energy flexibility programmes.

“Our partnership with Claret reinforces our strong growth trajectory and enables us to scale with further confidence as we expand to serve more customers globally,” said Paddy Finn, CEO of Viotas. “Our expansion to date has been predominantly powered by the strength of our business. This facility provides additional firepower to move even faster, developing new technologies, entering new markets, and supporting customers with more resilient, value-generating services.”

Claret Capital Partners (www.claret-capital.com) is Europe’s largest independent growth debt fund manager. Since 2013, the Claret funds have backed more than 180 SMEs from a wide range of geographies across Europe.

“Viotas is a key player in energy flexibility markets globally,” said David Bateman, managing partner of Claret Capital Partners. “We are excited to support their next phase of growth as they build on their international success and continue to innovate in support of a more sustainable, responsive energy future.”

Headquartered in Limerick, Ireland,Viotas (www.viotas.com) specialises in smart grid technology and demand-side flexibility services. The company empowers large energy users to support grid stability in real time while earning revenue from their energy assets. It combines deep engineering expertise with proprietary technology to deliver fast, reliable and scalable grid services.