On.Energy Raises $25M for Project Expansion and Battery Energy Storage Systems

On.Energy's Working Capital Facility

Key Highlights:

• Working Capital Facility: On.Energy, an electric power asset owner and integrator of battery energy storage systems, secured a $25 million working capital facility from Lombard Odier Investment Managers.
• Project Development Acceleration: The funds will be used to accelerate project development efforts and expand On.Energy's asset base in the U.S., including a 400MWh portfolio in ERCOT and a combined 1.1 GWh in development across California and Texas.
• Comprehensive Energy Storage Solutions: On.Energy offers fully integrated energy storage solutions, leveraging its proprietary On.Command ™ energy management system to provide customized solutions for utilities, system operators, and C&I customers.

On.Energy's Target Market

• Utilities and System Operators: Providing energy storage solutions to utility companies and system operators looking to optimize their energy management and grid stability.
• Commercial and Industrial Customers: Offering customized energy storage solutions to commercial and industrial customers for peak shaving, energy arbitrage, backup power, and microgrid operations.
• Wholesale Energy Market Participants: Assisting participants in the wholesale energy market with energy storage integration and optimization.

What On.Energy Needs to Buy

• Battery Energy Storage Systems: Partnering with manufacturers and suppliers of battery energy storage systems to expand their asset base and meet project demands.
• Engineering and Interconnection Services: Collaborating with engineering firms and interconnection service providers to support project development and integration.
• Market Expansion and Business Development: Investing in marketing and business development activities to expand their customer base and reach new markets.

Sorted raises £1.65M in Seed Funding for Recycling Tech

Summary: Sorted, a recycling tech startup based in the UK, recently secured £1.65M in seed funding to revolutionize waste management and recycling. Their AI-powered sorting solutions aim to improve the efficiency of recycling processes and contribute to a more sustainable future.

Funding Amount: £1.65 million

Industry: Software Development

Employee Count: 51-200

CEO: Carmen Carey (CEO Linkedin)

What Sorted needs to buy: Sorted is seeking partnerships with waste management companies, recycling industry leaders, and environmental organizations. Companies specializing in AI technology, sustainability solutions, and waste management systems are ideal partners to support Sorted's expansion plans and drive innovation in the recycling industry.