Decentralised renewable systems company Ryse Energy has raised $15m in a new growth funding round.
The 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 company RWE.
The investment will enable Ryse Energy to accelerate its international growth and enter untapped markets, expand its technology offerings, and continue to diversify its business model into energy-as-a-service.
The company is eyeing markets in North America and Africa. In addition, the company will be hiring globally to keep up with current and future demand.
“RWE is one of the largest renewable energy companies in the world and we are thrilled to have them as our lead investor and strategic partner,” said chief executive and founder of Ryse Energy Alistair Munro.
“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.”
Managing director and head of RWE Energy Transition Investments Costas Papamantellos added: “We are excited to support Ryse Energy in its mission to provide clean, renewable energy solutions to customers around the world.
“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.”