"Startup Lunar Energy is the latest example. The six-year-old company, which builds battery packs for homeowners in California, Georgia, and Washington, said Wednesday it has completed two large funding rounds. The startup shared it raised a previously unannounced $130 million Series C and a $102 million Series D. The Series C was led by Activate Capital, while the Series D was led by B Capital and Prelude Ventures."
"Stationary storage has become a bright spot for battery manufacturers that have been subject to policy whiplash after the Trump administration and GOP-controlled Congress gutted large parts of the Inflation Reduction Act, which had incentivized companies to build batteries in the U.S. to supply the automotive industry. As the grid strains under the weight of an increasingly electrified economy - along with the boom in data center demand - grid-connected batteries have become one of the most versatile ways to boost its resiliency."
"Lunar can call on its fleet of batteries, which come in 15 kilowatt-hour and 30 kilowatt-hour modules, to deliver juice to the grid when needed. It's virtual power plant (VPP) software can also control EV chargers and appliances, allowing it to both supply electrons while tamping down demand. Such VPPs are expected to be able to replace costly and polluting peaking power plants in a matter of years."
Lunar Energy raised $130 million in a previously unannounced Series C and $102 million in a Series D, bringing total funding to more than $500 million. The company builds residential battery packs for homeowners in California, Georgia, and Washington and plans to scale manufacturing to 20,000 units this year and 100,000 by the end of 2028. Its 15 kWh and 30 kWh battery modules can supply power to the grid and its virtual power plant software can manage EV chargers and appliances to both supply electrons and reduce demand. Growth in grid storage demand and competing VPP ventures are accelerating the market.
Read at TechCrunch
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