What Emulate Energy does

Emulate Energy is a Lund, Sweden-headquartered (with a Boston, MA presence) deep-tech SaaS company founded in 2020 as a spin-off from MIT research, operating across Sweden, Germany, Austria, and the United States. The company provides a modular HEMS (Home Energy Management System) and DERMS-ready platform that connects, orchestrates, and monetizes residential distributed energy resources — including EVs, heat pumps, batteries, solar inverters, smart thermostats, wallboxes, and meters — for utilities and energy retailers. Its core intellectual property is a "Virtual Battery" capability, originated at MIT, which emulates physical battery functionality by aggregating and coordinating flexible household loads across thousands of homes. The platform is hardware-agnostic and supports 60+ DER brands through OEM APIs, aggregators, or local gateways.

The platform is organized into five modules — Enable (device connectivity), Orchestrate (multi-signal optimization and control logic), Monetize (flexibility routing into intraday, ancillary, imbalance, and DSO markets), Engage (branded customer UX via API or WebView), and Operate (control-room visibility and incident handling). Utilities can adopt modules individually and scale to full-stack deployment without architectural change. Reported outcomes include 10–40% lower household bills, 9–15% peak load reduction, up to 30% avoided grid CapEx from smart EV charging, and up to €1,000/year in market revenue per fully electrified household.

Emulate generates revenue primarily through SaaS subscriptions paid by utilities and energy retailers, supplemented by transaction/revenue-share on flexibility routed into energy markets and by licensing/API integration fees paid by software partners such as Hansen Technologies, NISC, Energy Market Solutions, and Eliq. Distribution is a hybrid of direct enterprise field sales and channel partnerships, with go-to-market focused on utilities in Scandinavia, DACH, and the U.S. The company has raised approximately €7M of disclosed equity (2022 seed and April 2025 €5M Series A led by Helen Ventures) and employs 11–50 people.

Name

Emulate Energy

Legal name

Emulate Energy AB

Website

https://emulate.energy

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Emulate Energy provides utility-grade HEMS and DERMS SaaS that orchestrates residential distributed energy resources (EVs, heat pumps, batteries, solar) to cut grid costs and monetize flexibility. The Lund- and Boston-based company serves utilities and energy retailers across Europe and the U.S.

Ownership category

akta.pro rank

Product category

Energy Management Software

SIC

Electric & Other Services Combined (4931)

akta.pro primary industry

DERMS (Distributed Energy Resource Management Systems) (EUAFAKAB)

akta.pro secondary industries

DERMS Platforms & Utility Integration (ADMS/SCADA Integration, Hosting Capacity) (EUAFAHAF), Utility & Grid Services Integration for EV Flexibility (DR/DERMS/SCADA Interfaces) (EUAFAMAF), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF)

Keywords

• Energy management software
• DERMS platform
• HEMS software
• Virtual power plant
• Grid flexibility software

Headquarters

HQ city

Lund

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. SaaS Platform Subscription (HEMS/DERMS): Emulate sells its modular HEMS platform to utilities and energy retailers on a SaaS subscription basis. Utilities pay to access the platform's five modules (Enable, Orchestrate, Monetize, Engage, Operate) to launch residential flexibility programs. The platform is white-labeled so utilities embed it under their own brand. Revenue is recurring as utilities commit to multi-year programs and expand across their customer base.
2. Flexibility Monetization Services: Emulate enables utilities to monetize residential flexibility by routing aggregated DER flexibility into energy markets (ancillary services, intraday, imbalance, DSO programs). As utilities generate new revenue streams from market participation, Emulate captures value through platform fees or revenue sharing embedded in the SaaS arrangement. New margins are generated without new headcount for utilities.
3. Developer API and Integration Services: Emulate provides REST APIs for EV, HVAC, battery, solar, and meter connectivity, along with WebView UI integration kits. Partners such as Hansen Technologies, NISC, and Energy Market Solutions integrate Emulate's capabilities into their own platforms, potentially generating referral or embed fees.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Emulate Energy provides a Home Energy Management System (HEMS) and Distributed Energy Resources Management System (DERMS) software platform that enables utilities and energy retailers to orchestrate, manage, engage, and monetize distributed energy resources such as flexible loads, electric vehicles, home batteries, and heat pumps across residential and commercial portfolios.

Product overview

Emulate Energy offers a modular HEMS and DERMS-ready platform consisting of five integrated products: Enable (device connectivity), Orchestrate (control logic and optimization), Engage (customer UX), Monetize (flexibility monetization), and Operate (operational visibility). The core technology is the Virtual Battery capability, which transforms distributed energy resources like EVs, heat pumps, batteries, and solar into dispatchable grid assets. The platform enables utilities to connect, control, and monetize DERs through standard APIs, supporting deployment in as little as one day with no vendor lock-in. Customers can start with individual modules and scale to full-stack deployment.

Differentiator

Problem solved

Functional benefit

Products and services

• DERMS Platform Distributed Energy Resources Management System software for utilities and energy retailers to orchestrate, manage, engage, and monetize distributed energy assets such as flexible loads, electric vehicles, home batteries, and heat pumps across residential and commercial portfolios.
• HEMS (Home Energy Management System) Home Energy Management System software enabling utilities to monitor and orchestrate household-level energy devices and flexible loads in residential customer portfolios.
• Virtual Battery Technology offering that aggregates distributed residential energy assets (such as home batteries, EVs, and flexible loads) into a single dispatchable resource providing grid-scale flexibility services to utilities and grid operators.

Quantifiable outcome

• Up to 30% avoided grid CapEx through smart EV charging that reduces local infrastructure strain (ICCT, 2024)
• +7 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability5 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• FlowercoreTechnology or Integration · 1 April 2026Integration between Emulate Energy and Flower, an energy tech company with a platform to control and optimize energy assets. Flower is expanding from large-scale battery systems to smaller distributed energy resources including residential batteries and EV charging infrastructure. Emulate integrates with Flower's platform to enable broader access to energy markets through cloud-based integration without additional on-site hardware. Polarium home battery is the first device enabled. The partnership is part of a growing ecosystem including Flexecharge, Markedroid, Rebel, and Emulate.
• Hansen TechnologiesflagshipStrategic or Co-development Partner · 1 March 2026Strategic SaaS partnership announced March 2026 between Emulate Energy and Hansen Technologies (ASX: HSN), one of the world's leading utility software providers. The partnership integrates Emulate's AI-powered HEMS and Virtual Battery capabilities into Hansen Technologies' Customer Information System (CIS), Energy Data Management (EDM), and trading ecosystem. Utilities get a complete end-to-end pathway from residential device to wholesale market, enabling orchestration, imbalance cost reduction, grid constraint mitigation, and wholesale market participation.
• NISC (National Information Solutions Cooperative)flagshipStrategic or Co-development Partner · 1 October 2025Partnership between Emulate and NISC, a leading provider of software solutions for utility cooperatives in the U.S. Emulate participates in NISC's DERMS Partnership Program, expanding NISC's suite of solutions to include residential DER management. Pilots with beta participants commenced before year-end, with API availability to NISC Members following. Enables co-ops to manage increasing DER adoption and harness the full potential of distributed energy resources.
• Energy Market Solutions (EMS) / ENTEGA / EliqcoreStrategic or Co-development Partner · 1 May 2025Joint collaboration to integrate Emulate's optimization technology into the ENTEGA Cockpit App for dynamic smart EV charging in Germany. ENTEGA Cockpit App was developed by ENTEGA, EMS, and Eliq to complement ENTEGA's dynamic green electricity tariff. Emulate provided the optimization feature (WebView integration) enabling cost-optimized EV charging based on electricity exchange prices. Feature launched May 2025. Future expansion planned to include smart heating.
• SmartcarcoreTechnology or Integration · 14 November 2024Strategic partnership between Emulate Energy and Smartcar, an API platform for connected vehicles, to integrate EVs into Emulate's DERMS platform for energy providers. The partnership enables energy providers to leverage EV charging flexibility for grid balancing and peak demand reduction, with Smartcar providing automated data retrieval and charging session management across over 35 EV brands. Both companies aim to simplify EV onboarding processes and increase EV participation in demand response programs.
• EmablercoreStrategic or Co-development PartnerFormal partnership between Emulate and Emabler for EV frequency regulation services. Comprehensive tests were conducted on DC chargers to demonstrate EV chargers' capability to participate in TSO ancillary service markets. Emulate's virtual battery technology (based on MIT research) combined with Emabler's open EV charging software platform. Tests conducted on Skellefteå Kraft and OKQ8 chargers featuring 150 kW fast chargers powered by renewable energy, with rollout scheduled 2021-2026.
• Nordic Behaviour GroupminorStrategic or Co-development PartnerInnovative collaboration between Emulate Energy and Nordic Behaviour Group, a behavioral science consultancy. The project 'Development of business concepts for adaptation to future power tariffs' explores how behavioral insights can help grid companies' end customers monitor and automatically adjust electricity consumption in relation to power tariffs. Funded by the Swedish Energy Agency. Combines Emulate's technical HEMS capabilities with Nordic Behaviour Group's behavioral science expertise.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Uplight: Uplight (formerly AutoGrid) provides a DERMS and energy disaggregation platform for utilities across the U.S. and Europe, including residential demand response and VPP orchestration. Direct competitor in DERMS software serving the same utility customer base.
• Enode: Enode provides an API platform connecting EVs, batteries, heat pumps, and solar inverters for energy companies. Directly comparable in hardware-agnostic DER connectivity and API-first delivery to utilities and energy retailers.
• GridPoint: GridPoint offers a DERMS and building energy management platform serving commercial and residential customers with utility partnerships. Comparable in DER orchestration and utility customer segment.
• EnergyHub: EnergyHub provides a DERMS platform (Mercury) that aggregates residential DERs for utilities, serving many of the same North American investor-owned and cooperative utilities Emulate targets via NISC. Directly comparable product category, customer base, and business model.
• ev.energy: ev.energy is an EV smart charging platform with VPP capabilities, serving utilities across Europe and North America. Directly comparable in EV flexibility orchestration, utility business model, and customer base.
• GreenCom Networks: GreenCom Networks provides a DER orchestration platform for European utilities, including residential flexibility aggregation. Directly comparable in customer base (European utilities) and product category.

Broad incumbents

• SolarEdge: SolarEdge is a residential energy hardware and software incumbent with growing DER management and EV charging capabilities. Broader portfolio than Emulate, but increasingly overlapping in residential energy management and utility-facing software.
• Kraken Technologies: Kraken (Octopus Energy's platform) provides an end-to-end energy retail platform with growing HEMS and flexibility orchestration capabilities. Established incumbent with broader scope than Emulate, but increasingly overlapping in residential flexibility for utilities.

Emerging players

• Hive Power: Hive Power is a Swiss-based flexibility aggregation and VPP platform serving European utilities. Comparable in flexibility monetization and residential DER aggregation but smaller and earlier-stage than Emulate.

Others

• Eliq: Eliq is an energy data platform and a current Emulate partner (ENTEGA Cockpit app integration). Adjacent in serving European utilities with energy engagement and data, but focused on the data layer rather than DER orchestration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/emulate-energy

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds7 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Emulate Energy