On.Energy Secures $100 Million from SEEIT for North American Battery Storage Projects
On.Energy announced that it has closed $100 million in project financing from Sustainable Development Capital, LLC (SDCL) Energy Efficiency Income Trust plc (SEEIT).
August 17, 2022. By News Bureau
This conditional financing commitment will be used to accelerate the deployment of battery energy storage systems (BESS) for industry-leading corporate, industrial, and utility customers across the United States and Canada.
“On.Energy has a proven track record of delivering fully integrated battery energy storage solutions to our customers. This investment, which is our first from a major institutional investor, demonstrates the confidence shown by SEEIT in supporting our projects and validates the tireless efforts of our employees, investors, and management team,” said On.Energy CEO Alan Cooper.
The company’s CFO David Fernandes added, “On.Energy welcomes this world-class financial partner to support us as we advance the energy transition by continuing to expand our innovative, end-to-end solutions across the United States.”
The company’s customers include some of the world’s largest C&I brands, including Walmart, Hyatt Hotels, Grupo Bimbo, Glencore, Enel, Quimpac, Skysense, Solar Axiom, and more.
Purvi Sapre, SDCL Fund Manager, said, “On.Energy represents SEEIT’s first investment into a focused battery energy storage system provider, further diversifying SEEIT’s portfolio while also providing opportunities for synergies across its existing portfolio companies. We are delighted to be partnering with a company committed to the development and commercialization of technologies that push forward global efforts to achieve net zero by providing affordable and sustainable energy through safe and efficient infrastructure.”
please contact: firstname.lastname@example.org.
SNEC 17th (2024) International Photovoltaic Power Generation and Smart Energy Conference & Exhibition
June 04, 2024
EV NEPAL EXPO
December 08, 2023
The Renewable Energy India Expo(REI)-2023
October 04, 2023
Renewable Energy India Awards (REI Awards)
October 05, 2023
Co-Founder and Director
Goldi Solar Launches its VAMA On-grid Range of Smart String Inverters
Founder & CEO
Gruner Renewable Energy to establish India's first-ever Napier Grass bioCNG plant
Founder & Managing Director
Technological, environmental and economic factors to propel the energy storage industry
Airtouch Robotic Cleaning to Increase Power Generation of Amplus Solar Project by 1.2 Percent