Solar connection start-up ConnectDER banks USD 27m in fund-raiser

• ConnectDER, a United States provider of meter collars for home solar connection, has actually pulled in USD 27 million (EUR 25.1 m) in fresh capital to broaden its organization in a Series C funding round led by Energy Innovation Capital (EIC).

The Falls Church, Virginia-headquartered company streamlines the grid integration of distributed energy sources (DER) like solar photovoltaic (PV) systems. It provides a single tool to turn the meter socket right into an all-in-one plug-in factor for solar, storage as well as electrical vehicles (EVs).

ConnectDER stated it will certainly use the funds to progress its solar adapter right into new markets, launch a new EV product line and also establish new remedies for multi-asset electrification and assimilation.

The business, which was founded in 2011, has actually already deployed over 15,000 devices. It is present in 17 states, including New york city, Arizona, Vermont as well as Colorado.

The fund-raiser drew in different new backers, consisting of LG Technology Ventures, Evergy Ventures as well as Riverstone. It likewise saw engagement from a variety of existing financiers such as Skyview Ventures, Clean Energy Ventures and Avista Development.