VPPlab, a Korean startup that operates ‘flow-V’, a real-time energy data monitoring and power brokerage platform based on virtual power plant technology, announced on the 26th that it has secured Series A funding. The investment round was led by the ‘Early Startup Nurturing Fund’ jointly operated by Jeju Center for Creative Economy & Innovation (Jeju CCEI) and Merry Year Social Company (MYSC), with participation from Smilegate Investment. The investment amount was not disclosed.

‘flow-V’ connects power generators, power brokers, and the power exchange, facilitating easy management of real-time power trading participation and operations through real-time prediction and bidding.

The company has developed machine learning-based renewable energy prediction technology to forecast wind power generation and is building an ESS (Energy Storage System) power brokerage business model. Additionally, it provides electric vehicle charging revenue trading and settlement services through eco-friendly energy services utilizing surplus power, while also supporting customized power supply planning and renewable energy resource integration services for enterprises.

Established in 2021, VPPlab’s strength lies in its low prediction error rate, backed by its experience in managing and monitoring 400MW of renewable energy distributed resources and 260 virtual power plant locations.

VPPlab’s CEO Byung-hak Cha gained experience in virtual power plant technology development and ESS operation verification while working at POSCO Energy. The company recently strengthened its expertise by recruiting a CFO with M&A and project financing experience from POSCO International and Eugene Asset Management.

The investors, Jeju CCEI and MYSC, stated, “VPPlab has already secured market leadership in Jeju by participating in numerous demonstration projects under Jeju’s distributed energy policy, and recently achieved its first revenue case through wind power generation prediction technology and ESS power brokerage business model.” They emphasized that “VPPlab shows potential to grow into Jeju’s leading VPP company through continuous technology advancement and precise prediction capabilities.”