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Equilibrium Energy Launches As Climate Generation Power Company
Equilibrium Energy, a clean power company, has emerged from stealth with $33 million in venture funding from investors including Breakthrough Energy Ventures, Global Founders Capital, NJP Ventures, and a prominent university endowment. The company was founded in 2021 and aims to accelerate society's transition to clean energy by building a Climate Generation power company.
Equilibrium's unique approach involves leveraging deep energy expertise, AI-centric technology, power grid fundamentals, and an innovation-driven culture to address the challenges posed by climate change. As the power industry faces increasing complexity due to renewable energy growth, electric vehicle adoption, and extreme weather events, Equilibrium is working to navigate these complexities and support the transition to clean energy.
One of Equilibrium's first commercial efforts is supporting the deployment of grid-scale batteries to balance the volatile power grid. It offers tolling agreements for grid-scale battery developers in partnership with Hatch Renewables, providing crucial contractual offtake to secure project financing. Equilibrium's ...
... tolling offering functions similarly to a Power Purchase Agreement (PPA) and is expected to pave the way for more renewable deployments.
Recently, Equilibrium and Hatch announced the largest battery tolling agreement in Texas, involving a 100 MW battery owned by battery developer Jupiter Power. Equilibrium operates the battery using its power volatility-centric technology platform, which relies on cutting-edge AI and power grid fundamentals.
Ryan Hanley, Founder and CEO of Equilibrium Energy, expressed the company's commitment to combating the climate crisis and making a significant impact on global carbon emissions.
Breakthrough Energy Ventures (BEV) supports Equilibrium's mission, emphasizing that decarbonizing the grid is central to BEV's own objectives. BEV has invested over $2 billion in committed capital to support companies leading the world towards net-zero emissions.
Equilibrium Energy's current focus is on financing grid-scale battery deployments in Texas, with a goal to support its battery developer partners. Those interested in joining Equilibrium can find more information on their website.
Overall, Equilibrium Energy is positioning itself as a next-generation power company dedicated to fighting climate change and accelerating the transition to clean energy through innovation, technology, and partnerships.
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