|
|
|
|
|
Texas Retail Provider Raises $10.8 Million In "Series A" Round From VC, Climate, & Tech Investors
The following story is brought free of charge to readers by VertexOne, the exclusive EDI provider of EnergyChoiceMatters.com
Texas retail electric provider Branch Energy announced that it raised $10.8 million in an oversubscribed Series A funding round, led by Prelude Ventures, which is described as, "a climate-focused venture capital firm", alongside co-investor Zero Infinity Partners, which is described as, "an infra-tech investor".
Branch Energy describes itself thusly: "Branch Energy is a vertically integrated power provider that balances the grid and provides businesses with long-term energy stability through demand management software and advanced on-site battery storage systems."
Branch Energy said that the new financing will accelerate the development of Branch Energy’s battery management platform and build out its field services infrastructure.
Since launching in 2021, Branch Energy said that it has signed up, "thousands of customers".
Describing its services, Branch states, "Branch Energy has built the capacity and infrastructure to serve those customers affordably. The cost to pull electricity from the grid is cheapest in the morning when Branch pulls most of its energy. When electricity becomes more expensive later in the day, Branch discharges its batteries to keep costs low for its users. Branch Energy can reduce its customers’ energy bills by 5-10%, which can translate to tens of thousands of dollars of savings per year for commercial users."
Alex Ince-Cushman, Branch Energy Co-Founder and CEO, stated, "We built Branch from the ground up as a technology company, allowing us to deliver value to customers in this new era of distributed energy by reducing costs while improving reliability."
Branch Energy says that it uses data & AI to determine which smart devices reduce a building's energy bill the most and then helps finance and install those devices
ADVERTISEMENT ADVERTISEMENT Copyright 2024 EnergyChoiceMatters.com. Unauthorized copying, retransmission, or republication
prohibited. You are not permitted to copy any work or text of EnergyChoiceMatters.com without the separate and express written consent of EnergyChoiceMatters.com
August 7, 2024
Email This Story
Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Director, Load Forecasting
-- Retail Supplier
• NEW! -- Wholesale Markets Analyst -- Retail Supplier
• NEW! -- Origination Analyst
-- Retail Supplier
• NEW! -- Settlements Analyst
-- Retail Supplier
• NEW! -- Billing Supervisor
|
|
|
|
|