Participated · Series B · Aug 2024

SYSO operates as a market operator for renewable energy and battery storage assets, offering forecasting, power market access, asset operation and optimization, trading, settlement, and virtual O&M. Since launching in 2019, the company has formed partnerships with asset managers, developers, integrators, and independent power producers. SYSO currently manages over 2.5 GWs of assets across ISO-NE, NYISO, PJM, MISO, ERCOT, CAISO and SPP. The company plans to expand its offerings into new markets and grow its gigawatts under management. The Series B financing will support scaling operations, enhancing product offerings, and driving improved operational and financial outcomes for developers and IPPs. Legal counsel on the transaction included Pierce Atwood for SYSO and Reitler Kailas & Rosenblatt LLP for Kimmeridge.

Participated · Series B · Aug 2024

SYSO Technologies develops and operates a software platform that optimizes and manages renewable energy and storage assets for project owners and operators. The system now oversees more than 4.5 GW of capacity spread across 300-plus sites, covering every major U.S. ISO/RTO market and recently expanding into Canada. By delivering market intelligence, dispatch optimization, and regulatory navigation tools, SYSO positions itself as a mission-critical partner as grid demand rises from data centers and AI workloads. The company reports that it has more than doubled its managed capacity since the initial close of its Series B round in August 2024, reflecting rapid customer adoption. Investors highlight the firm’s technical depth, operational maturity, and ability to scale into new energy markets. With fresh capital, SYSO plans to further broaden the asset classes and geographies it supports while deepening its operational capabilities. The latest financing brings the Series B total to $15.5 million, although no revenue or profitability figures were disclosed.

Led · Series B · Feb 2022

kWh Analytics offers data‑driven insurance and revenue‑firming solutions for renewable energy projects, leveraging AI‑enabled underwriting assessments and a proprietary database. The company underwrites property insurance and revenue stability products for solar and storage assets and has attracted top‑tier insurance capacity. Its data assets include a database of more than 300,000 zero‑carbon projects and $100 billion in loss data, which it uses to inform precise underwriting decisions. kWh reports having insured over $30 billion in assets to date and is trusted by five of the top ten global (re)insurance carriers. The company is developing a tax credit insurance product to serve small distributed generation projects and expects to launch it within 18 months. That product aims to streamline due diligence and enable projects under 20 MW to monetize transferable IRA tax credits. kWh Analytics uses a proprietary database of over 300,000 operating renewable energy assets to underwrite insurance for zero‑carbon projects. Its first product, the Solar Revenue Put, now protects over $3 billion of solar power plants and has delivered a best-in-class loss ratio. The company recently launched a Property Product that provides all-risk coverage against physical damage for solar, storage, and wind projects. kWh leverages real-world performance data to innovate underwriting and pricing for renewable assets and collaborates with global re/insurers, including Swiss Re. With new funding, the company plans to develop additional solutions to support solar, wind, and storage asset owners and investors and to expand these offerings into new international markets. kWh Analytics is funded by venture capital and the U.S. Department of Energy and has announced a $20 million capital raise to support its expansion. kWh Analytics offers HelioStats, a risk management tool for the solar industry, and has launched PowerLock, a financial product designed to address mispricing of risk for solar. The company is led by CEO and founder Richard Matsui. It raised $5M in a Series A funding round to support growth. kWh Analytics intends to use the funds specifically to scale PowerLock. Yann Ranchere of Anthemis joined the company’s board alongside Larry Ng and D. Van Skilling. The company is based in San Francisco, CA.

Led · Seed · Feb 2022

Mothership is an ERCOT Option 1 Retail Electricity Provider based in Houston that delivers white-label retail electric services and wholesale retail supply access. Its core offering covers all aspects of owning and running an Option 1 or 2 REP, including licensing, collateralization, commodity supply, back-office support, compliance risk management, and startup costs. The company targets mid-size and large commercial and industrial customers, cleantech consumer and electric vehicle brands seeking to monetize distributed energy resources (DERs), and other high-demand loads such as bitcoin miners. The team is led by Maura Yates and supported by commodity market and renewable industry veterans. Mothership has partnered with Energywell to provide technology solutions and back-office operations, including DER integration into real-time markets. The company announced Lacuna Sustainable Investments has committed $5 million of seed funding to support Mothership’s operations and growth, and it plans to launch its first white-label rooftop solar and battery storage brand in Spring 2022.