Peak Power, a Toronto, Canada-based cleantech company that provides energy optimization software and services, raised USD$35M in funding.
The round was led by an affiliated fund of Greenbacker Capital Management. Other investors included Osmington Inc., BDC Capital, Export Development Capital, Hatch, Sensata Technologies, and The Atmospheric Fund.
The company intends to use the funds to ramp up its expansion into the US, hire for critical roles, and continue to develop its software capabilities.
Led by CEO Derek Lim Soo, Peak Power controls and optimizes battery storage, grid-interactive buildings, and electric vehicles, unlocking their hidden capacity. The software ensures multiple objectives are met including net zero initiatives, financial benefits, and electricity grid reliability. Its flagship software, Peak Synergy, optimizes for various revenue streams enabling investors to receive returns that can be used to deploy more battery storage projects.
The company operates in Ontario, New York, New England, Virginia, and California. Peak Synergy is currently deployed in over 13 million sq. ft. of real estate, with ~150 MWh of battery and electric vehicle capacity under contract or committed across North America.
FinSMEs
22/05/2023