Molten Ventures backs Renew Risk

Molten Ventures led a £5 million funding round for Renew Risk , a company specializing in risk modeling for renewable energy assets.

The investment, which included participation from Lloyd’s, Insurtech Gateway, and angel investors, will support the expansion of Renew Risk’s proprietary risk models and its global market reach.

Founded in 2021, Renew Risk provides risk modeling and analytics software to assess physical risks like hurricanes and earthquakes, helping renewable energy developers, insurers, and financiers manage asset risks. Its SaaS platform enhances underwriting capacity and liquidity for renewable projects, starting with offshore wind and expanding to other asset classes.

“Renewable assets coming online need to be financed and insured. The pace of deployment is being impaired by the lack of appropriate risk modelling for these new assets—leading to risk that isn’t properly quantified and priced. We are delighted to partner with the Renew Risk team as they built out their world leading risk analytics for the renewable energy sector.” – George Chalmers, Head of Climate at Molten Ventures.