Rome's Renewcast Secures €1M for AI Renewable Energy Forecasting

Rome-based Renewcast, an AI-powered renewable energy forecasting company, secured €1 million in a SAFE investment. 2C Ventures Fund I led this funding round. This investment extends Renewcast's 2024 SAFE round.

The new capital will accelerate Renewcast's global commercial rollout. Furthermore, it strengthens the company's position among top renewable forecasting technology providers. Renewcast plans to consolidate its tech team and scale commercial efforts across Europe, the US, Latin America, and Asia.

Advancing AI-Driven Energy Forecasting

Founded in 2020, Renewcast develops high-precision forecasting solutions for renewable energy. The company utilizes a proprietary AI technology stack. Its digital twin technology models chaotic weather and asset conditions. This enables accurate intra-day, day-ahead, and multi-day forecasts.

Renewcast consistently outperforms legacy systems. It delivers 20-40% improved accuracy, generating millions in annual value through reduced balancing costs. Clients include utilities, grid operators, and renewable asset managers in Europe and the US. Competitors like Amperon and Solcast also operate in this specialized renewable energy forecasting market.

The company manages over 1.8 GW of installed renewable capacity for active clients.

Renewcast currently supports over 10 pilot programs and serves four commercial clients. The company targets expansion into India and Asia. It grew more than 2.5x in 2024 and prepares for a Series A round in late 2026. This SAFE round remains open for additional investors up to €1 million. This funding further boosts the cleantech startups sector.