Sunverge nets US$15 million to support storage system rollout

LinkedIn
Twitter
Reddit
Facebook
Email

Sunverge's SIS combines storage, monitoring and control technology
Sunverge, a California-based provider of distributed energy storage and control systems, has closed a US$15 million funding round that it said would support its expansion.

The equity financing was led by the Southern Cross Renewable Energy Fund and joined by the venture capital units of Siemens and Total, according to a company statement.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Founded in 2009, Sunverge manufactures a Solar Integration System, which combines batteries, power electronics and multiple power inputs for distributed energy systems.

The company said it had 300 units deployed in the US, Australia, New Zealand, Germany and South Korea.

Kenneth Munson, president and CEO of Sunverge Energy, said: “This financing provides us the capital to open new markets, enhance support of our existing global customer base and drive the development of our rapidly growing pipeline.

“This world-class partnership validates the arrival of distributed energy storage into the mainstream and the leading position that Sunverge has already established.”

Christophe Tonion, senior investment manager at Total Energy Ventures, added: “We believe storage is critical for the expansion of solar and energy services markets, but what will be truly disruptive is the power to aggregate all sorts of distributed energy resources, be they solar, storage, smart devices, or electric vehicles. This ‘virtual power plant’ capability is at the core of Sunverge’s technology and go-to-market strategy.”

11 November 2025
San Diego, USA
The 2024 Summit included innovative new features including a ‘Crash Course in Battery Asset Management’, Ask-Me-Anything formats and debate-style sessions. You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.

Read Next

May 1, 2025
Yarra Energy Foundation has secured funding to install three new community batteries in and around Melbourne, Victoria, Australia.
May 1, 2025
AEMO has revealed that, as of March 2025, the pipeline of new standalone BESS in the NEM has increased by 86% year-on-year (YoY).
April 30, 2025
NYSERDA has launched a programme to incentivise residential and retail energy storage in the state, offering a total of US$775 million for energy storage projects.
April 29, 2025
A panel discussed the impact of CAISO’s interconnection reforms at last month’s Energy Storage Summit USA 2025 in Dallas.
April 28, 2025
Flow battery startup Quino Energy and developer Long Hill Energy Partners have been awarded US$10 million in grant funding by the California Energy Commission (CEC) to support a 8MWh flow battery energy storage system (BESS) project in Lancaster, California, US.

Most Popular

Email Newsletter