RWE has led a $15m funding round for Ryse Energy, a manufacturer of small wind turbines.
RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading, led the growth funding round.
Ryse Energy, which has sold and installed more than 4000 small turbines for clients, will use the funds to enter new global markets, expand its technology offerings and continue to expand its energy-as-a-service model.
New markets Ryse is targeting include North America, where community power and displacing diesel are key focus areas, as well as Africa, where energy access and powering critical infrastructure such as healthcare and telecoms are strategic priorities.
The company will be hiring globally to keep up with current and future demand.
Ryse Energy will also invest in its technologies to become certified for specific target markets and expand its manufacturing capacity in strategic locations.
Additional manufacturing locations in the USA, the UAE and India are being reviewed.
Ryse manufactures small wind turbine technologies and provides a range of additional renewable energy systems, including solar and energy storage.
It has factories in the UK and Spain, with sales offices in the US, Europe, the UAE and India.
Ryse Energy’s renewable systems can be installed as standalone technologies, grid-connected or off-grid with energy storage, or installed as bespoke and reliable hybrid renewable solutions.
The company works across a variety of sectors, from decarbonising critical infrastructure, including telecoms and oil and gas networks, marine and agriculture applications, as well as community power for rural electrification.
Costas Papamantellos, Managing Director & Head of RWE Energy Transition Investments, said: “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 the Ryse Energy and supporting its growth and expansion.”
Alistair Munro, CEO and Founder of Ryse Energy, added: “This investment will enable us to accelerate our growth and expand our product offering, while continuing to deliver innovative decentralised renewable energy systems to our customers around the world, at the same time reducing greenhouse gas emissions and client energy costs.”