Terralayr, a Zug, Switzzerland-based developer of renewable battery storage systems, raised 83.7m in equity and debt funding.
Backers included RIVE Private Investment, Creandum, Earlybird, Norrsken VC and Picus Capital.
The company intends to use the funds to accelerate the deployment of its battery storage asset base.
Established in 2022 by Philipp Man, CEO, terralayr is a developer and owner-operator of battery storage assets with a current focus on the German market, offering an “energy flexibility as a service” platform. The cloud-like software platform makes energy flexibility accessible “as-a-service” to many customer groups, including power producers, grid operators and large consumers of power such as data centers. terralayr develops and operates a portfolio of own battery storage assets, with currently one asset operational, several assets in construction and a total development pipeline of over 5GW in Germany.
The company has secured development agreements for over 5GW, has its first asset operational and several assets in construction, and partners with RIVE to fund the delivery of its further pipeline.
VCWire
21/10/2024