Participated · Series C · Nov 2022

Upstart Power develops and manufactures the Upgen™ platform of next-generation solid oxide fuel cell (SOFC) generators for on-demand backup and grid-augmenting distributed generation. The company’s Upgen NXG systems are in advanced field trials ahead of a planned North American commercial launch in the second half of 2023. Upgen products are designed to work collaboratively with battery storage and solar to provide 24-7-365, long-duration resiliency for residential and industrial applications. Upstart says the new funding will accelerate global commercialization of its SOFC platform and support broader market deployments. Upstart Power is privately held, was founded in late 2018, and is headquartered in Southborough, Massachusetts. Upstart Power designs and produces compact solid oxide fuel cell generators for residential and commercial backup and off-grid applications. Its systems are intended to work collaboratively with intermittent renewables like solar and battery storage to provide 24-7-365 power and replace internal combustion engine generators. The company’s Upgen platform aims to deliver lower-cost, lower-emission, and highly reliable backup power. The announced investment will enable Upstart to continue product development and scale its product development and manufacturing teams. Enphase and Sunnova plan operational and channel integrations, and Enphase said it will look to integrate fuel cells into its Ensemble energy management platform. The company emphasized resilience and energy independence for homeowners during extended outages and low solar production. Upstart is headquartered in Southborough, Mass.