Mainspring Energy, a Menlo Park, CA-based onsite power generation provider, raised over $150M in Series E funding.
The round was led by Lightrock with participation from Khosla Ventures, Bill Gates, Fine Structure Ventures, Princeville Capital, and Lineage Ventures.
The company intends to use the funds to develop new linear generator models and to accelerate the commercial, industrial, datacenter and utility adoption of Mainspring Linear Generators producing zero-carbon electricity.
Led by CEO Shannon Miller, Mainspring is a provider of large temperature-controlled industrial REIT and logistics solutions. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity, which spans 20 countries across North America, Europe, and Asia-Pacific. The company is delivering a new category of power generation — the linear generator — to commercial, industrial, and utility customers to increase their energy resilience, generate cost savings, and meet their sustainability and climate goals. Customers include Fortune 500 companies like Kroger and Lineage Logistics, as well as utilities like PG&E, Florida Power and Light, and others.
Mainspring also announced that Lineage Logistics, a large temperature-controlled industrial REIT and logistics solutions provider, has signed an agreement to deploy up to 150 Mainspring Linear Generators across its network of distribution facilities in the United States. The two companies also will explore the deployment of Mainspring units outside the United States and the use of 100% green fuels to power the fuel-flexible Mainspring products.
FinSMEs
25/05/2022