Sustainable Development Capital, LLC Energy Efficiency Income Trust plc will provide the financing to accelerate the deployment of battery energy storage systems across the United States and Canada.
Sustainable Development Captial (SDCL) Energy Efficiency Income Trust (SEEIT) was the first UK listed company of its kind to invest exclusively in the energy efficiency sector, with projects located in the UK, Europe and North America. By partnering with On.Energy, SEEIT aims to expand its portfolio of energy projects in the United States and Canada.
“On.Energy represents SEEIT’s first investment into a focused battery energy storage system provider, further diversifying SEEIT’s portfolio while also providing opportunities for synergies across its existing portfolio companies,” said Purvi Sapre, SDCL Fund Manager. “We are delighted to be partnering with a company committed to the development and commercialization of technologies that push forward global efforts to achieve net zero by providing affordable and sustainable energy through safe and efficient infrastructure.”
On.Energy is a fully integrated battery energy storage system solutions (BESS) provider with headquarters in Miami and offices in Texas, Mexico and Peru. The company currently has 80 MWh 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 in industries such as airports, hotels, retailers, plastics, and power generation, serving Walmart, Hyatt Hotels, Glencore, Enel and more.
The company’s energy management system, On.Command, helps to implement turnkey solutions that support peak shaving, energy arbitrage, frequency regulation, UPS/backup power, wholesale market integration, and microgrid operations for utilities, system operators and C&I customers.
“On.Energy has a proven track record of delivering fully integrated battery energy storage solutions to our customers. This investment, which is our first from a major institutional investor, demonstrates the confidence shown by SEEIT in supporting our projects and validates the tireless efforts of our employees, investors, and management team,” said Alan Cooper, On.Energy CEO.
