Greener Power Solutions, an Amsterdam-based mobile battery rental provider, has raised €45 million (~$45 million) from DIF Capital Partners, an investment firm specializing in infrastructure and sustainable energy investments.
Greener will use the capital raised to strengthen the company’s market position by investments in hardware and software innovation. It will also be used to upscale and further expand the team. Part of the funding raised will be invested in R&D, with plans to substantially increase the mobile battery fleet.
“When we started Greener, we wanted to disrupt the temporary energy market with our batteries. Now, we can safely say we have achieved this goal. DIF’s investment enables us to pursue new goals and capitalize on the great opportunities we see for our energy solutions. We believe that temporary energy facilities can play a major role in accelerating the transition from fossil to renewable energy sources,” Commented CEO Dieter Castelein.
Greener provides sustainable mobile energy solutions by renting out mobile batteries. They also developed planning, monitoring, and EMS software that controls the batteries, helping customers to manage their energy consumption. Currently, the company’s fleet consists of 60 batteries with a total combined capacity of 20 MWh.
“Our software is what sets us apart from other players in the market. Not only can we provide insight into usage from the battery, we can also control various power sources such as solar, wind, and hydrogen. In this way, we connect the temporary energy market to both storage and smart technology. That is important at a time of acute capacity problems on the energy grid and a rapidly rising demand for electricity,” said Klaas Akkerman, COO of Greener Power.
There is a growing demand for mobile energy solutions from construction sites and temporary grid upgrades to mobile charging and events; Greener claims that its solutions have saved almost 1.5 million liters of diesel and around 4.5 million kg of CO2 emissions.
According to Mercom’s Q1 2022 Funding and M&A Report for Storage, Grid, and Efficiency, total corporate funding (including VC, Debt, and Public Market Financing) in Battery Energy Storage came to $12.9 billion in 26 deals compared to $4 billion in 27 deals in Q4 2021.
THOR Industries, a manufacturer of recreational vehicles (RVs), has made a strategic investment of $15 million into Dragonfly Energy, a Lithium-ion battery manufacturer. Dragonfly Energy produces batteries for the Recreational Vehicles (RV) industry, and the investment will allow Thor to use the company’s innovative storage technologies for its customers.