Equilibrium Energy Raises $33M in Venture Funding
Summary
Equilibrium Energy, a San Francisco, CA-based clean power company, emerged from stealth backed with $33M in venture funding. Founded in 2021 by Ryan Hanley, CEO, Equilibrium is combining its deep energy expertise and technology to build a Climate Generation power company, to accelerate society’s transition to clean energy. Its first commercial efforts support the accelerated deployment of grid-scale batteries that balance the power grid. Its first customer offering, tolling agreements for grid-scale battery developers offered in partnership with Hatch Renewables, provides the firm contractual offtake for battery projects to gain needed project financing. Its tolling offering functions as a “PPA-for-batteries,” and the company expects that it will do for grid-scale batteries what the PPA did for wind and solar projects.