Equilibrium Energy, a San Francisco, CA-based technology company helping companies through clean power solutions for companies, raised $39M in Series B funding.
The round was led by DCVC and included participation from Breakthrough Energy Ventures and Valo Ventures.
The company intends to use the funds to support its battery developer and corporate partners’ efforts.
Led by CEO and Founder Ryan Hanley, Equilibrium Energy is a next-generation clean power company aiming to accelerate society’s transition to climate and energy equilibriums. It operates at the intersection of AI, power systems fundamentals, modern software, novel commercial structuring, and dynamic risk management across the power value chain.
Equilibrium Energy recently expanded into the California market with its signing of an offtake toll for a 40MW/40MWh operating battery in July. Overall, the company now has 260MW / 380MWh of contracted battery tolls across ERCOT and CAISO. Equilibrium Energy continues to build out its operational portfolio via its 6GW and growing battery tolling pipeline.
The company also added to its team:
- Kevin McEntee, former head of engineering at Netflix, joins as Head of Engineering.
- Jeffrey Woods, former Head of Strategy at JPMorgan Chase and CFO for Global Investment Banking, joins as Head of Finance and Operations.
- Jace Kohlmeier, former founder and head of Citadel’s high frequency trading desk, joins as Head of Trading.
- Caitlin Walsh, former Managing Director of Canada Pension Plan Investment Board’s Growth Equity team, joins as Head of Capital Markets.
FinSMEs
18/10/2024