The Energy Autopilot for Industries.

It is no secret that Energy Markets are Electric! Driven by the reduction in price of solar and wind and the societal pressure to decarbonise the grid (energy sector currently represents ¾ of global emissions), the EU aims for the energy mix to be comprised of 60+% renewables by 2030 - this is not only a vision, it’s the current projection. With renewables being added to the grid at an all-time high rate, it comes with its drawbacks of intermittent generation. Solar and wind power only produce energy when the sun shines and the wind blows. With a renewables-dominant grid we will have to manage the greater volatility of electricity generation. Furthermore, adoption of Distributed Energy Resources (DERs) such as solar, wind, and battery assets, move the grid from a one-directional system — where electricity is produced in massive power plants — into a multi-directional, decentralized energy system. This is exciting as the shift to renewable energy production serves as a massive unlock for new business models and opportunities to build iconic companies. But the path to achieving this vision is not that simple. It will require us to coordinate and overcome many challenges to ensure flexible grid infrastructure and manage extreme volatility of power prices. Industries that once passively accepted their electricity bills now find themselves grappling with fluctuating costs and unpredictable market dynamics. Rather than a crisis, we see this as a timely opportunity to transform risk into reward—and Skye is seizing that moment.

Meet Skye: Turning Volatility into Competitive Advantage

Founded in Stockholm in 2024, Skye provides an autonomous, AI-driven software solution that enables energy-intensive businesses to forecast, optimize, and control their power consumption in real time. Instead of treating market uncertainty as a threat, Skye helps industries take advantage of low-price windows, align operations with abundant renewables, and even generate additional revenue by participating in grid-balancing services. By doing so, Skye addresses a critical need for companies striving to stay profitable, sustainable, and resilient in the face of rising complexity.

Skye integrates seamlessly into existing facility control systems using common industrial protocols, requiring no extensive recoding or costly overhauls. Through real-time forecasting and automated consumption adjustments, companies avoid expensive peak hours and tap into surplus renewable power. Skye’s industry-agnostic models, supported by pre-defined process blueprints, keep production quality intact while trimming energy costs. By managing load shifting, demand response participation, and instant adaptation, Skye positions industrial companies to not just survive volatility but to profit from it.

Why we’re excited 

We couldn't find a better team for the problem they are solving. Tor Espen is one of the most seasoned founders in the energy space with unique insights into the electricity market since being the first person on the ground in Sweden for both Fortum (the largest electricity retailer in the Nordics) and Hafslund. Combined with Linus, who is an indie hacker building solutions at the intersection of energy, IOT, and AI (before it was cool), and most recently building data-driven tools at EQT.

Not only is the founder-market fit insane, but they have also been able to attract some of the best talent, such as Andreas Lundgren (prev. VP Engineering at Tink) and Matteo Varisco (the person leading advanced analytics and energy management at ABB - an electrical engineering company valued at €82bn). The team has built highly intelligent AI solutions, negotiated energy contracts, walked factory floors, and built large-scale tech platforms. This fusion of operational and technical skills means they understand exactly where existing systems fall short and how best to integrate Skye without disrupting production.

Even though they just came out of stealth, they have already launched their solution and are today serving customers among Sweden’s top 500 companies with major industrial operations. These pilot projects have delivered incredibly good results, including large cost savings from load shifting and new revenue through flexibility market participation. 

In the future, industrial facilities that once passively consumed energy will now actively optimize their usage in response to price signals and grid needs. Skye’s platform orchestrates these dynamic interactions, allowing energy-intensive industries to shift energy loads, slash costs, and earn revenue for providing flexible capacity. The result is a leaner, lower-carbon, and more resilient energy system—one where industries thrive on volatility rather than succumbing to it.

We are proud to announce that we have partnered with Skye and led their €3m pre-seed round along with Emblem and Hawktail. 

“I am deeply impressed by the Skye team! It’s rare to see such an ambitious and complementary team with this level of founder-market fit, including energy veterans, AI experts, and repeat founders. What they’re building isn’t just innovative; it has the potential to drive massive financial returns and dramatically reduce environmental impact for real-world businesses. This is the kind of company that doesn’t just move fast- it moves the needle” - Sara Rywe, partner at byFounders and lead investor.

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