Emrgy Secures USD 18M for Canal Electricity and Turbine Factory
With this capital infusion, Emrgy will deploy distributed hydropower projects, open its new turbine assembly facility in Colorado, and expand its development, operations and engineering teams.
April 12, 2023. By Anurima Mondal
The key investors in the round include Fifth Wall, Blitzscaling Ventures, Overlay Capital, and Veriten.
With this capital infusion, Emrgy will deploy distributed hydropower projects, open its new turbine assembly facility in Colorado, and expand its development, operations and engineering teams.
Talking about the development, Emily Morris, Founder & CEO at Emrgy said, “As a company dedicated to decarbonising the critical and vast real estate segment of water infrastructure, I’m thrilled to partner with investors who are equally as committed to our mission. It is an honor to lead Emrgy into our next pivotal phase of growth, as we continue to deepen our efforts to meet record demand for renewable energy via rapidly deployable, cost-efficient technology.”
Emrgy’s waterpower technology leverages existing underutilised waterways and infrastructure to deliver low-cost renewable power to energy off-takers.
The company’s proprietary modular turbine technology minimises disruptive construction and harvests power continuously as water flows. Their new projects will be developed in the Western US, Europe, and Australasia and provide power to agricultural, municipal, and utility offtakers.
“We’re thrilled to support the Emrgy team as they accelerate deployment of their novel distributed hydropower technology in irrigation canals and other existing water infrastructure. We believe Emrgy’s modular, cost-effective, and quick-to-deploy systems have the potential to reintroduce hydropower to the global renewable energy conversation that has been dominated by solar and wind in recent years,” said Justin Wright-Eakes, Managing Partner at Oval Park Capital.
The company will open its inaugural regional manufacturing facility in Aurora, Colorado with an estimated capacity of 5 MW per month. It has projects in New Zealand and a pilot system in South Africa.
“Water infrastructure holds instrumental opportunity for decarbonisation and Emrgy is accomplishing this in a scalable way that we have truly never seen before,” said Peter Gajdoš, Partner and Co-Lead of the Climate Technology Investment Team at Fifth Wall.
Emrgy also welcomed industry veterans Jennifer McFarlane and Bob Kelly to its Board of Directors.
please contact: contact@energetica-india.net.
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