Ivy Power Secures $18M in Sequence A Funding Set to Speed up Onsite Photo voltaic for Multi-tenant Properties
Cleantech San Diego member and Southern California Power Innovation Community firm Ivy Power, the creator of the trailblazing Digital Grid Cloud software program, introduced the closing of a $18 million Sequence A funding spherical. This funding spherical, led by SolarEdge, a worldwide chief in sensible power expertise, considerably advances Ivy Power’s quest to remodel the adoption of photo voltaic power inside shared communities, catalyzing a big shift in the direction of sustainability in an underserved actual property enviornment and combating local weather change. Ivy’s breakthrough expertise permits property homeowners to hedge in opposition to utility inflation, sustain with sustainability mandates, and improve their property’ tangible market worth. Residents, in flip, get pleasure from decrease power payments and the satisfaction of contributing to a greener planet.
In a difficult monetary local weather, Ivy Power’s method and imaginative and prescient for a renewable future drew substantial investments from notable traders, together with GreenSoil PropTech Ventures, American Household Insurance coverage Institute for Company and Social Affect (AmFam Institute), Legacy Capital Ventures, Enki Photo voltaic Investments, and Unit Chief. This signaled a powerful market perception within the potential for a distributed energy revolution that brings extra stability and advantages to native communities and property homeowners.
“As ClimateTech traders, we search for options that assist speed up the decarbonization of the Constructed Atmosphere throughout all asset lessons. As onsite solar energy technology continues its speedy progress, shared areas like multifamily housing are being neglected,” famous Dave Kolada, Managing Associate, GreenSoil PropTech Ventures and Board Member of Ivy Power. “We’re bullish on Ivy as its SaaS answer helps open up an enormous new asset class for clear power manufacturing whereas making a win-win for Actual Property homeowners and tenants.”
Charting a Sustainable Path Ahead
“Ivy was based on the idea of democratizing clear power entry by straight addressing the boundaries which have blocked renewable power investments in multi-unit environments. Our platform unlocks new internet working revenue for shoppers and financial savings to renters–all whereas enhancing grid worth and stakeholder alignment. This funding provides us the sources to scale in earnest, making use of our best-in-class software program answer to allow onsite photo voltaic and distributed power sources for multi-tenant properties” – Dover Janis, CEO of Ivy Power
The problem of cut up incentives has traditionally created boundaries to the adoption of onsite photo voltaic and distributed power sources. Consequently, property homeowners haven’t been in a position to successfully monetize onsite power techniques, and photo voltaic property on multi-tenant properties are lagging far behind different lessons of actual property. Ivy has pioneered an answer to beat these boundaries to adoption by means of its award-winning Digital Grid software program, powered by proprietary algorithms and sensible grid applied sciences.
The Sequence A funding lays a basis for Ivy to construct on its early success, as the corporate is poised to increase its technological and geographic footprint with revolutionary options for power administration in shared dwelling areas. Ivy is main the way in which to equitable entry to photo voltaic power for all residents and optimized returns to property homeowners.
“Ivy Power is well-positioned as the primary end-to-end digital platform for managing shared onsite power packages. Our SaaS merchandise ship the financial and social advantages of fresh power to tenants of multi-unit properties whereas rising income for property homeowners and driving advantages for the complete grid. With this new financing, Ivy is ready to carry our options to extra jurisdictions as we introduce new merchandise, enhanced end-user experiences, and extra income streams for Ivy’s shoppers throughout verticals. We’re past excited for this subsequent section in our progress, as we work to remodel our power economic system by unleashing the dormant potential of distributed power sources on multi-tenant actual property.” – Adam Masser, COO of Ivy Power.
About Ivy Power
Ivy Power is on the forefront of the clear power transformation for multi-tenant actual property, providing a complete suite of onsite power transaction merchandise and technology-enabled providers. Central to this suite is Ivy’s Digital Grid Cloud, which unlocks photo voltaic power distribution and battery storage to reinforce property proprietor revenues and decrease tenant power prices. Along with revolutionizing distributed power administration, Ivy Power gives a seamless EV charging product, integrating electrical car infrastructure into its sensible power options. With a concentrate on proprietor income, compliance, and a data-centric method, Ivy Power simplifies the administration of photo voltaic power and EV charging throughout a number of models whereas offering a best-in-class resident expertise. Ivy Power is paving the way in which for a greener future, seamlessly mixing expertise with sustainability. https://www.ivy-energy.com/
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