Energy storage pioneer signs capital round with investments by First
Solar and Grupo ECOS
Market leader Younicos has signed agreements for $50 million in growth
capital to further scale its deployment of intelligent energy storage
solutions. The funding comes from a consortium that includes First
Solar, Inc. (NASDAQ: FSLR), a global provider of solar energy solutions
and Grupo ECOS, a sustainable investment-focused private equity firm.
They join an undisclosed strategic lead investor. According to GTM
Research, this is the largest investment in a technology independent
energy storage provider in 2015.
“Utility-scale storage is an exciting new frontier for grid flexibility
and modernization that can help to facilitate high penetration of
renewables in certain circumstances. Younicos is a true trailblazer in
grid-scale storage integration,” said Raffi Garabedian, First Solar’s
Chief Technology Officer. “As the promise of storage continues to
evolve, we are eager to understand how it will broaden our own power
plant offerings. This is an important investment in continuing and
potentially accelerating the shift of our energy landscape to
Grupo ECOS Investment Manager, Ramon Candia, stated: “We see energy
storage as a key market driver for renewables and an important and fast
emerging asset class. Younicos is a leading and exciting investment
opportunity in this sector. Our strong position and portfolio of
renewable energy generation assets in Latin America can also provide an
attractive business opportunity for Younicos’ services.”
“We welcome our new investors and partners. Their investment and
strategic cooperation commitment is the strongest possible testament to
both the enormous potential of the energy storage market and the unique
leadership position Younicos maintains within it,” said James P.
McDougall, CEO of Younicos. “The signing of this investment round
ignites the second stage of our growth plan. Following our successful
reorganization at the beginning of the year, our new investors now
strengthen us not only financially, but will also help us capture
important market segments more rapidly with higher value, products and
Alexa Capital LLP advised Younicos on the financing.
Younicos is a global leader for intelligent energy storage and grid
solutions. Clients benefit from technical expertise, commercial know-how
and in-depth experience built on nearly 100 megawatts installed in more
than 20 energy storage projects worldwide. The company was founded in
2005 in Berlin, Germany, and currently employs more than 150 storage
enthusiasts there and in Kyle and Austin, Texas (USA). For more
information please visit http://www.younicos.com
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About First Solar
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced module and system technology.
The company’s integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module recycling, First
Solar’s renewable energy systems protect and enhance the environment.
For more information about First Solar, please visit www.firstsolar.com.
About Grupo ECOS
Grupo ECOS, of Swiss origin, manages several private investment vehicles
to carry out equity investments in projects and companies in selected
sustainable development and renewable energy segments. Committed to a
triple-bottom-line approach and business ethics, ECOS’ investment
mandate is to generate tangible returns for the group and its portfolio
companies and a positive impact for the societies in which we operate.
For more information please visit: www.grupoecos.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20151208005699/en/
Copyright Business Wire 2015
Source: Business Wire
(December 8, 2015 - 4:17 AM EST)
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