Gyre Energy Raises $1.3m to Revolutionize Cold Store Cooling
Gyre Energy, an Oxford-founded energy tech startup, has secured over $1.3 million in funding to implement its AI cooling platform within one of the world’s largest cold chains, as heatwaves strain power grids globally.
The Challenge and Solution
During scorching European summers, cold stores and distribution depots face increased electricity demand, leading to higher costs and strain on the grid. Gyre Energy offers a solution by optimizing cooling systems using its AI platform and thermal energy storage.
How It Works:
- AI Platform: Analyzes site behavior, forecasts cooling needs, and optimizes system operation.
- Thermal Energy Storage: Banks cooling capacity during low electricity costs and releases it when prices spike.
- Intelligent Infrastructure: Turns operational systems into smart, cleaner, and more resilient solutions.
Dougald Coulson, Gyre’s co-founder and CEO, emphasizes:
“We are an applied AI company… We use physics-based AI to understand thermal dynamics and optimize system performance.”
The Timing and Impact
The timing of this funding round is crucial as heatwaves put significant pressure on cold chains, buildings, and global power grids. The International Energy Agency projects a 50% faster growth in global electricity demand between 2026 and 2030 due to cooling, data centers, and electrification.
Early Success
Gyre’s initial commercial deployment at a UK chilled and frozen distributor’s 2,900 sq ft frozen store demonstrated promising results. Now, with the new funding, they aim to expand their impact by deploying their platform in a 140,000 sq ft cold chain operation, measured against an IPMVP baseline.
The startup’s investors include Speedinvest, rule30, and Plug and Play, reflecting the market’s recognition of Gyre Energy’s potential to revolutionize cold store operations and contribute to a more sustainable future.