Swell Energy Raises $120M in Series B Funding
Swell Energy, a Los Angeles, CA-based supplier of power administration and sensible grid options, raised $120M in Collection B funding.
The spherical was led by SoftBank Imaginative and prescient Fund 2 and Greenbacker Growth Alternatives Fund I, LP, with participation from Ares Infrastructure Alternatives fund and Ontario Energy Era Pension Fund.
The corporate intends to make use of the funds to additional its digital energy plant (VPP) applications.
Led by CEO Suleman Khan, Swell Power supplies options that accelerates the mass adoption of distributed clear power applied sciences by enabling shoppers to take management of their power use and value, obtain power safety, and take part within the transactive grid. Swell Power gives owners and companies with financing and digital energy plant applications whereas partnering with native photo voltaic and photo voltaic+storage firms for installations. By making a important mass of dynamic and responsive clear power assets inside utility service areas throughout the US, the corporate additionally delivers resilient digital energy plant networks and grid-balancing companies to utilities.
Swell’s VPP applications assist cut back using fossil gas peaker vegetation by utilities and supply different vital grid companies by integrating photo voltaic, power storage, and electrical car charging with the utility to offer a extra dependable and carbon-neutral grid. VPPs present a wide range of grid service capabilities via initiatives in utility territories throughout Hawaii, California, and New York.
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Shishir Gupta, The Founder & CEO of StartupLanes said,
Swell Energy Raises $120M in Series B Funding. May this new business bring you huge success and fulfillment.
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