Ivy Power Secures $18M in Collection A Funding Set to Speed up Onsite Photo voltaic for Multi-tenant Properties
Cleantech San Diego member and Southern California Power Innovation Community firm Ivy Power, the creator of the trailblazing Digital Grid Cloud software program, introduced the closing of a $18 million Collection A funding spherical. This funding spherical, led by SolarEdge, a worldwide chief in good vitality know-how, considerably advances Ivy Power’s quest to remodel the adoption of photo voltaic vitality inside shared communities, catalyzing a big shift in the direction of sustainability in an underserved actual property enviornment and combating local weather change. Ivy’s breakthrough know-how permits property homeowners to hedge towards utility inflation, sustain with sustainability mandates, and enhance their property’ tangible market worth. Residents, in flip, get pleasure from decrease vitality payments and the satisfaction of contributing to a greener planet.
In a difficult monetary local weather, Ivy Power’s strategy and imaginative and prescient for a renewable future drew substantial investments from notable buyers, together with GreenSoil PropTech Ventures, American Household Insurance coverage Institute for Company and Social Affect (AmFam Institute), Legacy Capital Ventures, Enki Photo voltaic Investments, and Unit Chief. This signaled a robust market perception within the potential for a distributed energy revolution that brings extra stability and advantages to native communities and property homeowners.
“As ClimateTech buyers, we search for options that assist speed up the decarbonization of the Constructed Surroundings throughout all asset courses. As onsite solar energy technology continues its speedy development, shared areas like multifamily housing are being neglected,” famous Dave Kolada, Managing Associate, GreenSoil PropTech Ventures and Board Member of Ivy Power. “We’re bullish on Ivy as its SaaS answer helps open up an enormous new asset class for clear vitality manufacturing whereas making a win-win for Actual Property homeowners and tenants.”
Charting a Sustainable Path Ahead
“Ivy was based on the idea of democratizing clear vitality entry by instantly addressing the boundaries which have blocked renewable vitality investments in multi-unit environments. Our platform unlocks new web working revenue for shoppers and financial savings to renters–all whereas enhancing grid worth and stakeholder alignment. This funding offers us the sources to scale in earnest, making use of our best-in-class software program answer to allow onsite photo voltaic and distributed vitality sources for multi-tenant properties” – Dover Janis, CEO of Ivy Power
The problem of cut up incentives has traditionally created boundaries to the adoption of onsite photo voltaic and distributed vitality sources. Consequently, property homeowners haven’t been capable of successfully monetize onsite vitality methods, and photo voltaic property on multi-tenant properties are lagging far behind different courses of actual property. Ivy has pioneered an answer to beat these boundaries to adoption via its award-winning Digital Grid software program, powered by proprietary algorithms and good grid applied sciences.
The Collection A funding lays a basis for Ivy to construct on its early success, as the corporate is poised to develop its technological and geographic footprint with modern options for vitality administration in shared residing areas. Ivy is main the best way to equitable entry to photo voltaic vitality for all residents and optimized returns to property homeowners.
“Ivy Power is well-positioned as the primary end-to-end digital platform for managing shared onsite vitality packages. Our SaaS merchandise ship the financial and social advantages of unpolluted vitality to tenants of multi-unit properties whereas growing income for property homeowners and driving advantages for the complete grid. With this new financing, Ivy is ready to deliver our options to extra jurisdictions as we introduce new merchandise, enhanced end-user experiences, and extra income streams for Ivy’s shoppers throughout verticals. We’re past excited for this subsequent section in our development, as we work to remodel our vitality economic system by unleashing the dormant potential of distributed vitality sources on multi-tenant actual property.” – Adam Masser, COO of Ivy Power.
About Ivy Power
Ivy Power is on the forefront of the clear vitality transformation for multi-tenant actual property, providing a complete suite of onsite vitality transaction merchandise and technology-enabled providers. Central to this suite is Ivy’s Digital Grid Cloud, which unlocks photo voltaic vitality distribution and battery storage to boost property proprietor revenues and decrease tenant vitality prices. Along with revolutionizing distributed vitality administration, Ivy Power gives a seamless EV charging product, integrating electrical automobile infrastructure into its good vitality options. With a give attention to proprietor income, compliance, and a data-centric strategy, Ivy Power simplifies the administration of photo voltaic vitality and EV charging throughout a number of models whereas offering a best-in-class resident expertise. Ivy Power is paving the best way for a greener future, seamlessly mixing know-how with sustainability. https://www.ivy-energy.com/
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