Decentralized renewable energy (RE) systems manufacturer Ryse Energy recently raised $15 million in a growth funding round, which will help fuel the company's international growth by enabling them to enter untapped markets such as North America, expand their technology offerings, and reshape their business model to energy-as-a-service (EaaS).
Ryse Energy specializes in manufacturing high-performance small wind turbine technologies. They also provide a range of options to integrate with other renewable energy systems, including solar power systems and energy storage modules, showing great adaptability and flexibility and demonstrating how solar and wind energy can complement each other.
The company's solutions can be grid-connected or off-grid through various types of hybridization. These solutions have been utilized in a wide range of sectors, including utility infrastructure like telecoms and oil and gas networks, as well as marine and agriculture applications. Furthermore, these solutions have also been applied to remote communities for rural electrification.
This funding round was led by RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading GmbH, the energy trading arm of the global renewable energy enterprise RWE Group.
"This investment will enable us to accelerate our growth and expand our product offering while continuing to deliver innovative decentralized renewable energy systems to our customers around the world, at the same time reducing greenhouse gas emissions and client energy costs," said Alistair Munro, CEO and Founder of Ryse Energy.
"We believe that Ryse Energy has the potential to be a major force for good in reducing greenhouse gas emission in remote locations and providing reliable and sustainable energy access to the over one billion people who currently do not have access globally. We look forward to working with Ryse Energy and supporting its growth and expansion," said Costas Papamantellos, Managing Director and Head of RWE Energy Transition Investments.
Ryse Energy will also invest in its current technologies to become certified for specific target markets, and expansion of its manufacturing capacity in strategic locations including the US, UAE and India.
Until now, the company has delivered over 4,000 installations across all seven continents.
