Miami-based battery energy storage system provider On.Energy has raised $100 million to finance projects in the U.S. and Canada.
On.Energy has delivered, and currently operates, more than 30 BESS diversified across industries such as airports, hotels, retailers, plastics, and power generation.
The company has 80MWh of battery storage in operation and under construction and an additional pipeline of nearly 2.5 GWh of BESS projects across North and South America, servicing AAA corporate, industrial, and utility customers.
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The company’s customers include some of the world’s largest C&I brands, including Walmart, Hyatt Hotels, Grupo Bimbo, Glencore, Enel, Quimpac, Skysense, Solar Axiom, and more.
In addition to providing battery storage hardware, On.Energy's software offering manages peak shaving, energy arbitrage, frequency regulation, UPS/backup power, wholesale market integration, and microgrid operations for utilities, system operators and C&I customers across the Americas.
The project financing was provided by Sustainable Development Capital, LLC Energy Efficiency Income Trust plc.