Fusebox is an Estonian technology company developing Energy Management System (EMS) and Virtual Power Plant (VPP) solutions that help clients optimize the production, storage, and consumption of renewable energy. The company’s software-based platform enables the management of distributed energy resources—such as solar parks, wind generators, battery energy storage systems, and controllable loads—and integrates them with energy markets to reduce costs and generate additional revenue. Fusebox’s clients include renewable energy developers, energy retailers, system integrators, and real estate companies, with more than half of its revenue coming from exports.
The rapid transition of Europe’s energy system towards renewable energy has introduced new challenges, particularly related to production unpredictability and rising imbalance costs. Solar and wind generation are inherently variable, and when actual production deviates from what was committed to the market, additional costs arise, which—under high price conditions—can even result in losses. At the same time, many energy companies lack real-time visibility into the balance of their production and consumption portfolios, as metering data often arrives with delays and decisions are made based on fragmented information and manual analysis. Market conditions are further complicated by volatile prices and the increasing frequency of negative price periods, which require active asset management rather than passive generation.
Fusebox’s platform addresses these challenges by collecting and analyzing real-time data on energy production, consumption, and storage, and by using advanced control algorithms to adjust asset behavior according to market signals and grid conditions. This enables cost reduction, optimized energy usage, and improved grid stability—for example, by shifting consumption to lower-price periods or participating in balancing markets. The company generates revenue through both flexibility services and a SaaS model, offering a revenue-sharing approach in the Baltics and a platform solution abroad that enables clients to act independently in energy markets.
In collaboration with Haap Funding, a product development project grant application was carried out with the aim of enhancing the existing energy platform with new functionalities to support more accurate energy flow forecasting, portfolio balancing, and more flexible asset management. The project idea focused on creating cloud-based balancing capabilities that provide a more up-to-date overview of portfolio imbalances, enable the assessment of potential deviations, and support data-driven decision-making to mitigate them. In parallel, improvements will be made to the management of production assets to enable better responsiveness to market and grid conditions and to increase the economic efficiency of assets. The solutions were designed as modular components, allowing them to be applied across different use cases and offered both as standalone services and as part of a comprehensive platform.
As a result of the product development project, clients are able to reduce in the future imbalance-related costs and improve forecasting accuracy, which can translate into significant financial gains. As part of the project, Haap Funding supported Fusebox in structuring the development plan and preparing the application, resulting in €500,000 in secured funding. Fusebox’s ambition is not to focus on short-term profitability, but to rapidly scale its services across Europe and become a key player in building a smart and flexible energy system.
This marks the third successful collaboration between our team and Fusebox. We wish their team continued success in executing their strategy.
If you are interested in Estonian and European Union funding opportunities, feel free to reach out at karl@haap.ee
