The Week in Cleantech: July 15 – 21
We start our recap of the week in cleantech with some intriguing partnerships formed by cleantech startups.
Bloom Energy, which in May closed on $150 million in growth capital from German utility E.ON and Credit Suisse and is expected to go public soon, has formed a joint venture with Japanese telecommunications and internet corporation SoftBank. The partnership, in which each company is investing $20 million, will bring fuel cells to the commercial-scale distributed generation market in Japan.
Eos Energy Storage, which is commercializing Zinc-air battery technology for the grid and is backed by NRG Energy, welcomed several utilities to its ‘Genesis’ partner program. Enel, GDF Suez, National Grid, NRG, and Public Service Company of New Mexico will undertake business case evaluation, product development and optimization, and pilot demonstration of Eos’s innovative battery technology.
In venture investment, Smart Grid company On-Ramp Wireless raised $15 million in Series C equity from new strategic investor Enbridge, as well as existing investors Energy Technology Ventures and Third Wave Ventures. The company indicated that the funds will be used to further commercialize the company’s Smart Grid and Digital Oil Field solutions.
To dynamically track cleantech deals like those above, consider subscribing to the i3 Platform. Our team is happy to walk you through a brief demo of i3.