$18.3 Million Boost for Greensmith’s Energy Storage Software…And More Quick Microgrid News
Energy storage software and analytics company Greensmith has raised $18.3 million in Series C growth funding, with investors including European utility E.ON and American Electric Power.
Greensmith plans to use the financing to expand commercial and technology delivery operations to leverage pipeline acceleration, and to advance its market-leading GEMS energy storage software platform. GEMS optimizes the performance of a grid-scale energy storage system’s batteries, inverters and other hardware, lowering costs and improving the system’s return on investment.
Greensmith says that it recently delivered over one-third of all energy storage capacity installed in the U.S. And, considering Europe’s goal of reducing carbon dioxide emissions by 80 percent by 2050, Greensmith will likely delve into the rapidly growing European market next with its energy storage software and analytics platform.
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Remote small islands often are excellent candidates for microgrids. They typically have limited access to electricity, often turn to expensive diesel fuel to generate it, and may be particularly vulnerable to the effects of climate change.
Like a growing number of other islands, Mauritius, in the Indian Ocean, will soon be riding the renewable energy wave. Carnegie Wave Energy Limited has been awarded $800,000 for a wave energy and microgrid design project on Mauritius and neighboring island Rodrigues.
The project will focus on the delivery of a renewable energy roadmap for Mauritius, assessment of the Mauritian wave energy resource, identification of a preferred commercial wave energy project site, and design of a microgrid powered desalination plant on Rodrigues.
“Projects like Carnegie’s Garden Island Microgrid can be the model for Mauritius and island communities globally and will be at the forefront of addressing climate change and sustainability for small island developing states and least developed states,” said Carnegie’s CEO Michael Ottaviano.
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A new disruptive clean energy technology — optimized for microgrids — will be unveiled in a live demonstration on December 17 at the LA Kretz Innovation Center. Entrade, a portfolio company of the Los Angeles Cleantech Incubator, has engineered a clean energy solution that provides baseload power through more than 8,000 full load hours per year. It builds a coalition with weather-dependent wind and solar energy and energy storage systems. More than 100 kinds of waste can be used to produce reliable, carbon-neutral and affordable energy. It can also be used for off-grid microgrids and in cities to power apartment houses or production facilities.
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