Participated · Series D · Dec 2024

ConnectDER develops meter-socket hardware that accelerates interconnection of solar, battery storage, and EV charging by turning the meter socket into an all-in-one connection point. The company’s next-generation Meter Socket Adapter (MSA), the IslandDER™, enables seamless islanding of solar, batteries, EVs and other DERs to provide whole-home backup and resiliency. Its products install in minutes and are marketed as costing 10% or less than typical service-panel or utility interconnect upgrades, addressing an estimated U.S. market where 60 million homes lack capacity for solar or EV charging without costly upgrades. ConnectDER reports over 25,000 adapters in operation and approvals to sell in more than 20 states covering over 16 million households. The company has public endorsements from partners such as Blue Raven Solar and is positioning its offerings to simplify installations, reduce errors, and expand entry-level installer jobs. ConnectDER plans to use new capital to expand markets, scale manufacturing, and continue product innovation aimed at nationwide sales in the next few years. ConnectDER develops meter-collar technology that provides a low-cost, one-hour install in a single device to upgrade residential electric power systems for grid-ready solar photovoltaic integration regardless of a home’s age or amperage. The solution enables installations without complex and expensive upgrades to circuit-breaker panels or in-home wiring and without adding more amperage from the utility. ConnectDER’s product can be optimized to offer connections for electric vehicle chargers and backup power systems in the near future. Led by founder and CEO Whit Fulton and based in Philadelphia, the company is already operating in 17 states and has deployed over 15,000 units nationally to date. ConnectDER plans to use new funding to scale its existing solar adapter into new markets, launch a new EV product line, and develop a next-generation product suite for multi-asset electrification and integration. ConnectDER's flagship product, the Smart ConnectDER meter collar, turns the utility meter socket into a grid-ready, plug-and-play interface for residential solar, storage and EV charging. The meter collar enables rapid interconnection of grid-ready DERs, provides superior data to utilities, and offers a low-cost alternative to traditional wiring methods. The technology lowers installer costs while unlocking alternative tariff models and grid management capabilities for utilities. Utilities including Consolidated Edison, Arizona Public Service, Entergy, and Pennsylvania Power and Light deploy ConnectDER's solution. The company said it will use new capital to scale operations and supply chain and to enhance core solutions for energy storage and other fast-growing residential applications across North America. ConnectDER expects to launch several new products beginning with Smart ConnectDER Version 4 at DISTRIBUTECH. ConnectDER builds a meter collar hardware product that reduces upfront installation costs for rooftop solar and gives electric utilities real-time management over distributed energy assets. The device is designed to let residential solar connect to the grid cheaply, safely, and rapidly while avoiding home wall penetrations. The company says widespread deployment would cut greenhouse gas emissions, reduce environmental damage from fossil fuel extraction and combustion, and decrease reliance on government subsidies. ConnectDER’s solution also aims to enable highly managed distributed energy assets and boost grid resiliency. The company closed a $1.1M Series A, providing early-stage capital to advance commercialization and deployment. The funding was supported by a collaboration between PRIME Coalition and Investors' Circle and several philanthropic and impact-minded angel backers.

Participated · Equity · Oct 2023

Omnidian delivers comprehensive protection and performance plans for residential and commercial solar and energy storage systems, using proprietary machine learning, AI and advanced analytics to assure asset performance and improve customer experience. The company emphasizes O&M services, business intelligence and uptime improvements for distributed renewable energy resources. Omnidian reports revenue more than tripled from 2022 to 2024 and cites a trailing 12-month gross revenue retention rate that distinguishes it in the industry. Headquartered in Seattle with international operations in Australia, Omnidian has a global team of 375+ and recently acquired an industry-leading solar service provider in the APAC region. With new capital, the company plans to scale core operations, expand geographically (including deeper growth in Australia and entry into new markets), and explore new product ecosystems such as EV charging infrastructure and commercial energy storage. The firm positions its technology-driven platform and client-focused operations as central to accelerating clean energy investments and improving bankability of solar assets. Omnidian provides end-to-end solar asset management for commercial and residential installers, developers, and owners, using proprietary software to remotely detect performance issues and manage assets. The company operates a network of more than 200 solar system experts across 34 states and a field service network covering 93% of U.S. ZIP codes. Omnidian expanded its international presence to Australia in 2022. It says part of its mission is to improve the post-purchase experience and nurture solar assets throughout their life cycle. The company will use capital to further technical innovation and add transparency into portfolio performance, job site status, and active remediations, as well as reporting enhancements to support portfolio managers. Omnidian has been named a Top 100 Places To Work for five consecutive years, appears in the Global Cleantech 100, and has been recognized as one of the Most Innovative U.S. Energy Companies. Omnidian provides nationwide performance plans and guarantees for residential, commercial, and industrial solar systems through a proprietary machine-learning asset management platform that offers continuous monitoring, proactive service alerts, and field service. The company has launched a similar service for residential and commercial & industrial energy storage and says its software will monitor other IoT-sensored energy products in the future. Proceeds from the recent funding will enable expansion into new asset classes including energy storage, EV charging, and HVAC, and will support international expansion. Omnidian employs more than 100 professionals across 16 states and manages more than 1,700 megawatts for customers. The firm emphasizes lowering cost of ownership and reducing risk for customers while providing performance guarantees that help unlock institutional capital. Omnidian positions its platform as critical infrastructure to accelerate renewable adoption and improve grid resiliency. Omnidian offers continuous monitoring, proactive service alerts, field service and an end-to-end cash-back performance guarantee for residential and C&I solar systems. Its core product is a subscription-backed protection and performance-assurance platform sold directly to homeowners and through an Elite Dealer Program for solar installers. The Elite Dealer Program is offered at $300 for the first year and renewals are available for under $13 per month, enabling dealers to bundle cash-back performance guarantees for cash and loan customers. Omnidian supports multiple Fortune 1000 clients’ residential lease portfolios and is responsible for over 75,000 residential solar systems today. The company plans to use new capital to expand into new geographies including New York and California and to grow its reach to dealers representing over 75% of the U.S. solar market. Omnidian is supported by the DOE SunShot Program and positions its platform as transferable to other IoT consumer-device insurance and premium categories.

Led · Equity · Sep 2023

Yotta Energy develops integrated hardware and software renewable-energy solutions that combine solar PV, energy storage, and EV charging for commercial buildings. Its core products include a PV-Coupled™ architecture and the SolarLEAF battery technology, featuring advanced thermal management to maintain optimal temperatures under extreme outdoor conditions. The company also offers a suite of EV charging products and a software layer that enhances grid resilience and outage response. Yotta recently launched Yotta Vision, a monitoring platform that analyzes individual modules and micro-inverters, provides remote access, real-time alerts, temperature monitoring, and dynamic output graphs. The company is building a network of certified developers and installers, including Teylon and E2SOL, to deploy its systems to notable national retailers. Management says the new funding will be used to scale manufacturing and accelerate deployment of SolarLEAF. Yotta Energy develops a PV‑Coupled™ panel‑level energy storage solution that integrates lithium‑iron‑phosphate batteries, advanced thermal management, and software to pair with rooftop solar. Its briefcase‑sized hardware fits under standard solar modules and is designed to lower total installed cost for rooftop solar-plus-storage. Yotta positions the product to enhance grid resilience and provide battery backup for buildings, with pilot deployments focused on multifamily properties. The company has secured public awards to deploy and validate systems in underserved communities and at military sites. Yotta plans to replicate and scale the technology across similar locations nationwide and will perform pre‑installation data collection at SolarTAC in Colorado. The company is headquartered in Austin, Texas. Yotta Energy develops a patented PV‑Coupled panel-level energy storage solution that fits under standard solar modules and integrates with racking arrays. Its hardware includes advanced thermal management to maintain optimal temperatures in extreme outdoor conditions, and the offering combines integrated software and hardware. The company’s technology is designed to scale with rooftop solar PV projects and to enhance grid resilience by helping address outages. Yotta has collaborated with APsystems on power conversion systems including a Dual Power Inverter and a 480V, 3‑phase microinverter for C&I applications. The company plans to use new funding to accelerate scaling of its panel-level solar-plus-storage system, develop new technology, and increase headcount. Yotta is led by CEO Omeed Badkoobeh and is based in Austin, TX. Yotta Energy develops modular, panel-level solar-plus-storage systems designed to convert commercial flat roofs into distributed power plants. Its flagship SolarLeaf is a briefcase-sized, lithium-iron-phosphate battery module installed beneath individual solar panels, with 1 kWh nominal capacity per unit and an ideal system size up to 1 MWh. The PV‑coupled, module-level architecture uses thermal management and a small footprint to lower installation costs versus large container systems, simplify permitting, and improve battery performance and safety. As an integrated hardware and software solution, Yotta’s product stores excess on-site renewable energy, can sell power back to the grid, and is aimed at improving grid resilience for commercial and industrial customers. The company plans to use Series A proceeds to expand deployments in the U.S. and Latin America, increase hiring, and open new energy-generation revenue opportunities for flat-roof building owners. Yotta is headquartered in Austin, Texas, has deployments across states including California and Texas, pilot utility projects, and a 12-project deal with installer EcoBuild (first site: an 87 kW solar and storage microgrid). Yotta Energy, headquartered in Austin, Texas, develops PV-Coupled™ panel-level energy storage that fits under standard solar modules and integrates with racking arrays. Its patented passive thermal management system enables decentralized, briefcase-sized battery modules that withstand extreme outdoor conditions and extend battery lifespan. The plug-and-play design aims to simplify rooftop solar-plus-storage installations by eliminating heavy enclosures and complicated HVAC systems and standardizing integration. Yotta targets small-to-medium commercial and industrial rooftop solar projects and is positioning its technology to capture the U.S. commercial rooftop solar market. The company closed a $5M Seed Round to finalize UL certification, commence commercial production, and build the necessary infrastructure for scale. Investors named in the round include Fiftysix Investments, EDP Ventures, Skyview Ventures and other undisclosed investors.

Participated · Series A · Jun 2022

Xendee provides an integrated software platform for feasibility analysis, proposal building, portfolio assessment, detailed engineering, and operation of distributed energy resources (DERs) and EV fast-charging infrastructure. The company offers AI-based, Model Predictive Control software that continually evaluates and optimizes microgrid systems and claims to be the only integrated provider of microgrid design and AI-based operation optimization software. Xendee’s techno-economic algorithms produce investment and operation schedules to meet goals such as cost reduction, CO2 emissions cuts, and increased resilience. Its solution is hardware-agnostic and can manage more than 27 types of technologies including solar, battery storage, nuclear, linear generators, and combined heat and power. Xendee is partnering with Eaton to deliver a full-suite solution that combines Xendee’s software and modeling expertise with Eaton’s control hardware and engineering services to enable scaled deployments. Eaton also led a Series B financing round for Xendee to accelerate deployment of its AI-powered tools and support the company’s next phase of growth. XENDEE provides software for planning, designing, financing and real-time operation of distributed energy systems, coupling financial optimization with detailed electrical power system analysis. Its platform generates CFO- and engineer-ready reports to support DER decision making, resilience planning, and project viability before construction. XENDEE targets net-zero DER deployments and ultra-fast EV charging infrastructure, aiming to accelerate adoption and deployment through strategic partnerships. The company serves government and private entities and has taken on resilience-focused projects in climate‑vulnerable regions, including a zero-carbon microgrid effort in Puerto Rico with Idaho National Labs. XENDEE earned the Edison Gold Award in 2021 in the human critical infrastructure category for its technology's potential to transform resilient, carbon-free energy transitions. The company plans to use new financing to increase market presence and speed global deployment of alternative energy systems.

Participated · Series D · May 2022

SkySpecs offers autonomous drone inspections, blade and drivetrain software, and integrated asset-health analytics for the renewable energy industry. The company operates a fleet of autonomous drones and claims the largest blade data repository, having inspected over 270,000 turbines and serving 125 global customers. In 2024 SkySpecs reported its highest-ever number of onshore and offshore drone inspections and launched new autonomous blade-inspection technology for both internal and external inspections. The company has expanded through strategic acquisitions in performance monitoring, condition monitoring, and financial analytics, and is integrating diverse data streams including inspection, SCADA, CMS and financial data. SkySpecs says it will scale further in 2025, accelerating development of cutting-edge technologies and expanding its global impact. The business emphasizes driving predictive maintenance, operational streamlining, and cost savings for owner-operators. SkySpecs offers autonomous drone inspections, AI-based fault detection, and software solutions to help owners monitor and optimize renewable energy assets across the asset lifecycle. The company expanded from blade-inspection services to broader diagnostics and analytics for multiple wind asset components to enable earlier fault detection and prioritized maintenance. SkySpecs said the new funding will accelerate expansion of its software offerings and grow its geographic footprint to increase renewable performance and displace fossil fuel generation. The company closed an $80 million strategic capital raise led by Goldman Sachs Asset Management with participation from a NextEra Energy Resources subsidiary and existing investors. SkySpecs manages approximately 118 gigawatts of renewable assets across more than 30 countries, monitors about 45% of North American wind turbine blades, and has inspected over 300,000 blades. The company employs more than 200 people globally and positions its solutions to extend asset useful life, reduce operating costs, and simplify asset ownership. SkySpecs builds operations and maintenance solutions for the wind energy sector, using AI, machine learning, robotics and software to optimize repair decision-making and proactive planning. Its Horizon asset-management solution enables smart repair planning and supports autonomous wind-turbine inspections. The company offers autonomous inspection services and asset-management functionality intended to improve O&M efficiency. SkySpecs operates in 19 countries across five continents and maintains offices in Ann Arbor, Michigan and Amsterdam, Netherlands. Led by CEO Danny Ellis and CTO Tom Brady, the company plans to expand its team in the United States and Europe and continue developing Horizon’s functionality. SkySpecs is an Ann Arbor, Mich.-based automated infrastructure inspection company that provides a platform to enable customers to make more information-rich decisions about the condition of their energy assets and infrastructure. Co-founded by Danny Ellis and Tom Brady, the company combines robotics, artificial intelligence, and machine-based analytics to advance renewable infrastructure inspection. Its solution enables wind farm owners, ISPs, and OEMs to monitor and track the health of their wind turbines with a 15-minute automated robotic inspection. SkySpecs will use the Series B proceeds to scale international operations and develop inspection software. The company raised $8m in Series B financing led by Statkraft Ventures, with participation from UL Ventures and Capital Midwest and follow-on investments from Venture Investors, Huron River Ventures and other existing investors.