Climate Impact Capital Leads Investment in Micro-grid Resiliency
HOUSTON, May 26, 2021 /PRNewswire/ -- Climate Impact Capital, LLC is pleased to announce leading the closing of a Pre-Series A round of $1.3 Million, into 60Hertz. Full press release.
60Hertz Energy is a Women-Owned Small Business. At a time when only 2.8% of venture capital goes to female-founded start-ups, 60Hertz is already a success story. Piper Foster Wilder launched the company in 2017 and since then the team has deployed their maintenance software into intermittent bandwidth off-grid locations in Alaska and Africa.
"Maintenance is a critical element of ensuring grid resiliency, as we saw during the near-collapse of the Texas ERCOT grid early in 2021," said Alex Rozenfeld, the Founder of Climate Impact Capital. "Microgrids will become an increasingly important part of the mainstream grid in the coming decades as we see more climate change driven mega weather events and 60Hertz will be part of the suite of solutions needed in that future."
60Hertz enables customers to improve the asset performance and overall lifespan of their existing power generation facilities and speeds their transition of microgrids to resilient and renewable power generation sources. 60Hertz facilitates maintenance on over $140M of microgrid assets with over 4,600 maintenance records filed per month through the platform.
The need for efficient, resilient, and sustainable microgrid infrastructure is critical to boosting economic growth. Microgrids are rapidly expanding from rural markets that 60Hertz currently serves to become key elements of grid management worldwide. This financing will accelerate the company's growth in North American and Sub-Saharan African markets.
"The clean energy revolution is happening everywhere, not just in the cities and suburbs," said John Harper from Clean Energy Venture Group, another 60Hertz investor. "Rural and remote power generation assets have a critical role in transitioning to a cleaner and more resilient future. 60Hertz's CMMS is an essential tool in this effort. We're eager to help 60Hertz grow dramatically over the next several years."
About Climate Impact Capital
CIC invests in energy technology companies and supports global energy corporations through CIC's Venture-as-a-Service program. Focusing on climate change risks, CIC identifies resiliency opportunities and prepares our partners, customers, and portfolio companies for a world challenged by climate variability and resource scarcity. With a diverse team and a global partner network across oil and gas, power, and energy technology manufacturing, CIC is at the forefront of the energy transition.
SOURCE Climate Impact Capital, LLC
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