Ingrid Capacity aims at leading the field in software for flexible assets and reaching 8 GW installed capacity across Europe by 2030

Founded in Sweden in 2022, Ingrid Capacity has already earned the status of Nordic market leader in flexible assets. The company aims to become the European leader in flexible assets development and optimization within this decade.  

Ingrid Capacity has so far raised more than 1 billion SEK to fund a rapid build-out of Battery Energy Storage Systems (BESS) in Sweden. The company is currently constructing 14 utility-scale systems with a capacity of over 200 MW, set to go live in fall 2024. Additionally, the company is about to commence the construction of another 200 MW in Sweden. Beyond these projects, Ingrid Capacity currently has a pipeline totaling more than 7 GW across Europe. The goal is to reach 8 GW installed capacity across Europe by 2030, an ambition that requires new funding structures to more easily onboard larger institutional investors. This large build-out is targeted at providing flexibility to the energy grid and overall power system. It is not only significant in size but will also have a major impact on driving the green transition. 

Ramping up capabilities in software and AI

In addition to building a European asset base and organization, the company is also ramping up its capabilities in software and AI, by building tools specifically for grid analysis, trading, and optimization linked to flexible energy assets. Ingrid Capacity provides a unique combination of delivering both the necessary infrastructure and the software systems for the energy grid. The infrastructure will act as the “muscles” and will make the electricity grid more flexible, resilient and stable, while the software systems will act as the “brains”, helping to optimize the company’s flexible assets and make the electricity grid smarter overall.  

“Owning and optimizing our flexible assets in a smart way is a crucial part of our strategy and our license to win. This allows us not just to optimize the lifetime value of our systems, but also to be a better partner for the grid operators and the power system at large. Building an energy company fit for the future also entails building it based on digital technologies,” says Axel Holmberg, CEO at Ingrid Capacity. 

Andreas Langholz recently joined as Head of Tech Strategy

Over the past 6 months, Ingrid has rapidly built its data team and today, tech and data professionals are making up an increasing share of the company. By 2030, the company estimates to have 150-200 employees in total, with the data team being the single largest team. Ongoing recruitment efforts will further strengthen Ingrid Capacity’s expertise within digital and AI. As an example, Andreas Langholz will take the lead on defining the technical strategy, after spending 6 years at QuantumBlack (McKinsey’s AI division), where he led their efforts on AI in Energy and the Industrials in the Nordics. In addition, he holds triple master’s degrees in Computer Science, Game Theory and Statistics, and Economics.   

“I’m very excited to join Ingrid at this crucial moment in the company’s journey. We have the opportunity to take a relatively new asset class and think through from scratch how to make use of new digital technologies to empower the life-cycle all the way from identification of sites to operating the batteries in the field”, says Andreas Langholz, Head of Digital Strategy at Ingrid Capacity. 

The tech portfolio of Ingrid Capacity is still being defined, but one thing that is clear is the need to combine both new (Gen)AI innovations with proven methods from machine learning, mathematical optimization, and software engineering.  

Andreas Langholz continues, “We are lucky to be starting out right when Large Language Models and the likes are becoming commercially available, and I believe this will be a great advantage in both our internal operations and analytical capabilities. We see many use cases that can leverage these new capabilities, and we want to drive tech development in the energy sector. I believe that we soon will see mixtures of AI-generated features, scenarios etc. solved with specialized models. It’s a topic we are actively researching, for example, by looking into combining energy network simulations and visual recognition systems to identify potential for improvements in the grid infrastructure.” 

“We are also closely collaborating with Google Cloud to stay informed on the latest trends and build our solutions on state-of-the-art cloud infrastructure,” concludes Andreas.