Toshiba Completes Corporate Venture Capital Investment in Türkiye and UK based Startup “Smartpulse”

~Promoting services to reduce imbalance risk associated with the introduction of renewable energy~

  • Renewable Energy
  • Strategies / Measures

May 19, 2023

Toshiba Energy Systems & Solutions Corporation

KAWASAKI, JAPAN—Toshiba Energy Systems & Solutions Corporation (hereinafter “Toshiba ESS”) announced today that the company has invested in SmartPulse teknoloji A.S. (hereinafter “Smartpulse”), a Türkiye and UK based company that provides an end-to-end solution for short term energy trading management for market participants including power plant owners and large consumers. Through this investment and the strengthening of relationships with Smartpulse, Toshiba ESS aims to provide high value-added services in the energy aggregation business in anticipation of the growing introduction of renewable energy sources.

As the amount of renewable energy is expanding on a global scale, the need for energy management is expected to continue to grow. Countries and regions with expanding renewable energy installations will gradually introduce imbalance*1 systems, and electric power producers will be required to meet their imbalance obligations to match the amount of electricity demanded with the amount supplied.

Smartpulse is developing a Software as a Service (SaaS, SmartpulseTM) business that provides online software to manage renewable energy sources to reduce imbalance risk and automate power trading.  The company is developing management services to reduce imbalance risk. Currently Smartpulse is serving a large share of the Turkish power market, which is one of the largest markets across Europe and Middle East, Smartpulse is now expanding their business into Europe with Clients in various markets including Spain, Portugal, Ireland, Bulgaria and Croatia.

Toshiba ESS considers promoting management services to reduce the imbalance risk of renewable energy globally collaborating with Smartpulse. In order to realize a carbon-neutral society with a sense of speed, in addition to our knowledge and technology, Toshiba ESS will promote co-creation with other companies, utilize our corporate venture capital (CVC)*2 function, and continue to actively pursue investment and alliances with companies that contribute to carbon neutrality.

Tadasu Yotsuyanagi, Director, President and CEO of Toshiba ESS says, “We are honored to work with Smartpulse. Toshiba ESS will continue to contribute to the realization of a sustainable society by providing infrastructure services that improve the value of energy systems by making full use of Toshiba ESS’s wealth of knowledge and achievements in the energy field, technologies, know-how, and digital spaces.”

*1: Imbalance is the difference between the amount of electricity demanded (used) and the amount of electricity supplied that occurs when a renewable energy power generator is unable to achieve the same amount of electricity as planned and actual simultaneously. If the amount of renewable energy power generation deviates from the planned value and the imbalance becomes large, it may cause a decline in the quality of the electricity supplied and power outages. In addition, an imbalance fee must be paid as an adjustment cost due to the imbalance.

*2: CVC is a fund set up by a business corporation with its own funds for the purpose of investing in and supporting unlisted startup companies (venture companies). It is operated with the aim of achieving synergies with the core business by investing in companies that have original technologies and ideas and are related to the company's own business. A means of open innovation.


Overview of Smartpulse


Smartpulse Teknoloji A.S. (Türkiye)



Head Office

Istanbul, Türkiye


Smartpulse Global Ltd. (London,UK)


Provide power trading automation services and asset management platform services for power market participants, with a focus on renewable energy, energy storage systems, distributed power sources, aggregators and retailers.


Onder Akar (CEO and co-founder)

Ozan Korkmaz(CRO and co-founder)



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