Greensmith develops the GEMS energy storage software platform and provides integration services for energy storage systems. The GEMS platform is now in its fifth generation and was launched in 2014. GEMS is designed to optimize performance by lowering costs and maximizing system return on investment throughout its life and is used by more than 20 major customers globally. Greensmith plans to use the new funding to expand commercial and technology delivery operations, accelerate its pipeline, advance the GEMS platform and grow in the European energy storage market. The company raised $18.3M in a Series C financing (the total included a prior $5M strategic investment from American Electric Power). Greensmith is led by CEO John Jung. Greensmith develops and integrates grid-scale energy storage systems, with its GEMS software platform that optimizes batteries, inverters and other hardware. The company says GEMS is used by 19 customers across more than 40 sites and that it delivered one-third of U.S. energy storage capacity installed in 2014. Greensmith reported deployments including the single largest battery-based energy storage system deployed globally in 2014, which provides 24x7 frequency regulation services. The firm positions itself to capture a significant share of growing grid-scale storage opportunities and emphasizes strong customer and partner relationships. Following the Series C, Greensmith will leverage strategic partnerships to guide product development and market expansion.

Total raised

$31M

Funding rounds

2

Latest round

Series C

Latest activity

Dec 2015