Terra One, a startup specializing in grid-connected battery energy storage systems, announced that it has secured up to €150 million (~$176 million) in mezzanine financing from Aviva Investors, an asset management company.
“With a highly sophisticated infrastructure investor like Aviva at our side, we can significantly accelerate the expansion of large-scale battery storage. This hybrid financing structure gives us the flexibility and scalability we need to establish ourselves as a top player in the independent storage space,” said Founder & CEO, Tony Schumacher.
The financing will support the development of approximately 3 GWh of energy storage capacity, positioning the company to commence execution of its portfolio of ready-to-build projects.
“We’re investing in Terra One because the company has proven its ability to deliver projects quickly, reliably, and to the highest standards,” said Adam Irwin, Director of Infrastructure Equity at Aviva Investors.
In June, the company marked the official start of construction for its 15 MW/30 MWh battery energy storage project in Ahlerstedt, Germany. The project is expected to be self-optimized in merchant mode using their proprietary Terra AI platform, which automatically determines the optimal times to store or release electricity based on real-time demand, pricing, and grid conditions.
In 2024, the company secured $7.5 million in seed funding, led by PT1, an early-stage venture capital firm specializing in real asset technologies, and neosfer, an early-stage investor associated with Commerzbank.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage report, announced debt and public market financing for Energy Storage companies in 1H 2025 came to $7.4 billion in 19 deals, a 43% decrease YoY compared to $13 billion in 16 deals in 1H 2024.
In August, Energy Vault, a developer of utility-scale energy storage projects, announced that it had entered into an exclusivity agreement for a $300 million preferred equity investment. The investment aims to support the launch of Asset Vault, a fully consolidated subsidiary of Energy Vault dedicated to developing, owning, and managing energy storage assets.
