By Stephen Lacey: DBL Investors leads an $18 million series A round for Advanced Microgrid Solutions. Before last November, very few people had heard of Advanced Microgrid Solutions. But after winning a 50-megawatt contract to deliver storage services to Southern California Edison, the startup is pulling in some well-known backers and technology partners.
AMS is planning to develop behind-the-meter storage systems in commercial and industrial buildings. But unlike most other distributed storage developers that are focused on customer control, AMS is offering utilities full control of the systems for grid services.
The first deployment, expected for 2016, will be a collection of batteries adding up to 10 megawatts of capacity. SCE will use the batteries to help shift load during peak times or to provide frequency regulation services. The system hosts will get compensated through reductions in demand charges in the middle of the day.
The round was led by DBL Investors, an in-demand venture capital firm that has made some of the most successful investments in cleantech and sustainability.
Nancy Pfund, the managing partner at DBL, recently joined forces with Ira Ehrenpreis, formerly a general partner with Technology Partners, to oversee a $400 million fund devoted to businesses making a social or environmental impact. Pfund and Ehrenpreis were both early backers of Tesla.
In an email to GTM, Pfund called the investment a “fitting sequel to our earlier investments such as Powerlight, Tesla and SolarCity.”
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