Plexigrid and the EIC Accelerator: Software for Crowded Power Grids

Plexigrid, founded in July 2020 as a spin-off of the University of Oviedo and based in Gijón and Stockholm, makes AI software that gives electricity distribution companies real-time visibility of their low-voltage grids and lets them steer flexible loads such as electric vehicle chargers to avoid overloads. It co-developed its technology with the Portuguese utility EDP, according to Plexigrid. In February 2024 it announced a €6.5 million EIC package: a €2.5 million grant and €4 million of EIC equity "to be combined with external funding in Plexigrid's next funding round", according to Silicon Canals.

The EIC project received an EU contribution of €2,450,000 towards a total cost of €3,512,000 and ran from June 2024 to August 2026, according to CORDIS. Its first report says the grid state estimator prototype was fully deployed, an AI digital twin forecasts voltages from smart meter data alone, and "all developments are progressing on schedule", according to CORDIS. It also says large-scale demonstration and customer onboarding are still needed for market uptake. No new funding round has been announced since the EIC award.

Where Plexigrid Stands Now

Plexigrid says it has more than 40 staff from over ten countries, with offices in Sweden and Spain, and ISO 27001 certification, according to Plexigrid. In June 2026 it appointed Ana Ramos, formerly of Pavilion Energy, as chief operating officer "to scale the team", saying demand was accelerating across Europe and North America. It works with New Zealand's Counties Energy on EV charging and distributed energy on the low-voltage network, and with the Swedish grid consultancy Vinnergi. Empresia puts its annual turnover below €500,000, according to Empresia.

The Technology: Seeing the Last Mile of the Grid

Low-voltage networks, the last stretch of cable to homes, were built without sensors and are now filling with solar panels, heat pumps and chargers. Plexigrid reconstructs the grid's topology and electrical state from smart meter data, forecasts problems with an AI digital twin and activates flexibility, such as delaying EV charging, to keep the network within limits. The project report says its seasonal scenario modelling replaces heavy Monte Carlo simulations.

What the EIC Award Promised, and What the Record Shows

The EIC money was to complete Plexigrid's flexibility orchestration engine and platform integration, and fuel global scaling. The technical work was reported on schedule. Scaling is less clear: no large utility contract, revenue figure or new funding round has been announced.

1. Grid estimation and digital twinDeliveredProject report.
2. Flexibility orchestration engineIn progressGroundwork laid, 2025.
3. Large-scale customer rolloutUnverifiedPilots only named.
4. Next funding roundNot announcedEIC equity waiting.

The Money

Before the EIC, Plexigrid raised €2 million in a round led by TheVentureCity and €4.5 million in 2023 from Polar Structure, Vargas Holding and TheVentureCity. Its registered share capital is €32,046, according to Empresia. Whether the EIC's €4 million equity has been invested is not public.

What Cannot Be Checked

Why Europe Should Care

Plexigrid argues that distributors cannot see what their low-voltage grids can take, so solar, heat pumps and chargers wait to connect, and that software can squeeze more out of existing cables than digging new ones. Plexigrid has built it; utilities have yet to buy it at scale.

The Verdict

Plexigrid and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.