Energy and battery startup Advanced Microgrid Solutions announced it has secured $34 million in Series B financing. Five investors participated in the round, including DBL Investors, Energy Impact Partners, Macquarie, and GE Ventures.
AMS installs advanced energy storage systems in buildings to lower energy costs for consumers and to provide clean, instant load reduction to electric utilities. The company’s Hybrid-Electric Buildings Project™ deploys large networks of battery systems in targeted buildings where electric utilities need grid support. AMS can seamlessly shift an entire fleet of buildings from grid power to battery power, providing real time support to the electric grid. Building owners get paid for being part of the solution to today’s energy challenges.
In its announcement, the San Francisco-based company said it intends to use the new financing for two main purposes: to expand into new markets outside California, and to scale up its armada software, the platform that is used to design, implement and operate its current fleet of battery-equipped buildings.