Ryse Energy, a provider of decentralized renewable energy systems, announced that it had raised a $15 million growth funding round led by RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading, the energy trading arm of the global renewable energy company RWE.
The company plans to use the new funds to accelerate international growth, expand its technology offerings, and diversify its business model into energy-as-a-service.
Ryse Energy has been primarily involved in manufacturing high-performance small wind turbine technologies. The company provides various renewable energy solutions, including off-grid solar and energy storage installations.
The company has manufacturing facilities in the UK and Spain, with global sales offices, including the USA, Europe, the UAE, and India.
Ryse Energy renewable systems can be used as standalone technologies, grid-connected or off-grid with energy storage, or hybridized to create bespoke and reliable hybrid renewable solutions. The company’s solutions are intended to meet the needs of various sectors and applications, such as rural electrification, telecoms, agriculture, water pumping, microgrids, and remote power.
Alistair Munro, CEO & Founder of Ryse Energy, said, “This investment will enable us to accelerate our growth and expand our product offering while continuing to deliver innovative decentralized renewable energy systems to our customers around the world, at the same time reducing greenhouse gas emissions and client energy costs.”
“We are excited to support Ryse Energy in its mission to provide clean, renewable energy solutions to customers worldwide,” said Costas Papamantellos, Managing Director & Head of RWE Energy Transition Investments. “We believe that Ryse Energy has the potential to be a major force for good in reducing greenhouse gas emission in remote locations and providing reliable and sustainable energy access to the over one billion people who currently do not have access globally.”
According to Mercom Annual and Q4 2022 Solar Funding and M&A report, total corporate funding worldwide in the solar sector, including venture capital and private equity (VC), debt financing, and public market financing, came to $24.1 billion in 2022, a decline of 13% compared to the $27.8 billion raised in 2021.