Zug-based terralayr, an organization specialising in power storage, has secured €77M (€62M in fairness and €15M in debt) in funding — from Creandum, Earlybird, Norrsken VC, Picus Capital, and Rive Non-public Funding.
The Swiss firm will use the funds to speed up the growth of its battery storage programs.
Philipp Man, Founder and CEO of terralayr says, “In a net-zero world, power storage is the important thing lacking piece to drive the combination of all of the renewable technology belongings which can be hitting the grid. Our positioning as a completely built-in storage aggregator allows us to unlock the fly-wheel from this future multi-trillion greenback asset class – delivering to prospects reminiscent of knowledge centres and utilities all the advantages of battery storage with out the burden of the bodily operation of belongings.”
Terralayr: AWS of grid storage
Based by Philipp Man and Ludwig Wurlitzer in 2022, terralayr is a developer and owner-operator of battery storage belongings with a concentrate on the German market.
The corporate presents “flexibility as a service” via its proprietary cloud-like software program platform, concentrating on numerous gamers within the power sector, reminiscent of energy producers, merchants, grid operators, and huge energy shoppers reminiscent of knowledge centres.
The corporate presents flexibility providers with durations from lower than quarter-hour as much as 15 years, permitting prospects to realize all the advantages of grid-scale battery storage with out the overhead of a bodily asset.
For grid-scale battery homeowners, this presents a brand new solution to optimise capability, producing greater and extra steady returns.
terralayr has already secured growth agreements for over 5GW each via an in-house greenfield growth workforce and thru companions.
The corporate acquired its first asset, trlyr1, in Could 2023, which has been operational since then.
By introducing a market for power storage and enabling flexibility on demand, terralayr goals to assist overcome necessary hurdles to undertake renewable power and play a task within the drive to internet zero.
At present, the corporate’s management workforce consists of trade consultants from corporations like Limejump, RWE, Fluence, Subsequent Kraftwerke, and Pexapark.