On.Energy, a Miami, FL-based electrical energy asset proprietor and confirmed end-to-end integrator of battery power storage methods, obtained a $25M working capital facility from Lombard Odier Funding Managers.
The corporate intends to make use of the funds to speed up undertaking growth efforts and to broaden its U.S. asset base, together with an extra 400MWh portfolio in ERCOT and a mixed 1.1 GWh in growth throughout California and Texas. The financing was architected to help prices sometimes topic to less-efficient financing in market at the moment, together with website management, engineering and interconnection, undertaking and interconnection bonding, and undertaking M&A.
Led by CEO Alan Cooper, On.Vitality is a completely built-in power storage options supplier and an impartial energy producer. Its crew leverages the proprietary On.Command ™ power administration system to implement personalized options that help peak shaving, power arbitrage, frequency regulation, UPS/backup energy, wholesale market integration, and microgrid operations for utilities, system operators, and C&I clients throughout the Americas.
The corporate has places of work in Texas, California, Mexico, Peru, and Chile.
FinSMEs
26/04/2024
