Advanced Microgrid Solutions Raises $34M Series B From a Who’s Who of Strategic Investors

GreentechMedia
By Jeff St. John
July 10, 2017

Energy Impact Part­ners, South­ern Com­pany, AGL and GE Ven­tures take stakes in Cal­i­for­nia startup that’s link­ing bat­ter­ies, build­ings and the grid.

Advanced Micro­grid Solu­tions, the Cal­i­for­nia startup with a fleet of behind-​​the-​​meter bat­ter­ies that can shape load to help meet build­ing and grid energy needs, has raised a $34 mil­lion Series B round from some key util­i­ties and cor­po­rate investors try­ing to break into the dis­trib­uted energy business.

Monday’s round was led by pre­vi­ous investor DBL Part­ners, utility-​​funded invest­ment firm Energy Impact Part­ners (EIP), and South­ern Com­pany, a found­ing mem­ber of EIP, which last month announced it was part­ner­ing with Advanced Micro­grid Solu­tions through its Pow­er­Se­cure subsidiary.

Other par­tic­i­pants in the round included Mac­quarie Cap­i­tal, the invest­ment firm that last year pledged $200 mil­lion to finance Advanced Micro­grid Solu­tions’ projects, and two new investors: GE Ven­tures and Aus­tralian util­ity AGL, another EIP mem­ber. Other early investors join­ing the new round include for­mer Cal­i­for­nia Gov. Arnold Schwarzeneg­ger, an early sup­porter of the com­pany through his con­nec­tion to CEO Susan Kennedy.

To read the full arti­cle, visit Green­tech­Me­dia.