News

Venture capital funding in energy storage up significantly with $994 million in Q1 2021

Battery Industry

In Q1 2021, $1.3 billion was raised in venture capital funding by battery storage, smart grid, and energy efficiency companies, a 410% increase from the $252 million raised in Q1 2020, Mercom Capital Group LLC, Austin, Texas, United States, has reported.

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Prosumer-Focused Retail Energy Start-up Seeks Texas Retail Electric Provider Certificate

Paul Ring, Energy Choice Matters

David Energy Supply (Texas) LLC applied for an Option 1 Texas retail electric provider certificate. As previously reported, David Energy emphasizes a prosumer business model and recently announced the close of $19 million in new financing and the hiring of several retail market veteran.

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How distributed energy can harden the Texas power grid

Jeff St. John, Canary Media

Texas may struggle mightily with a top-down approach to fixing what broke its power grid this February. But distributed energy resources could offer a bottom-up solution. To James McGinniss, CEO and co-founder of David Energy, that makes for an intriguing business opportunity. In the coming months, the New York-based retail energy provider plans to enter the Texas retail market and launch a pilot offering for a few hundred Texas customers, one that combines monthly energy payments with distributed energy installations.

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THE TORCH: Climate CEO Interview with James McGinniss, CEO of David Energy

Entrepreneurs for Impact

Led by James McGinniss, David Energy operates as both an electricity retailer and behind-the-meter energy storage aggregator allowing the company to more accurately predict and control energy consumption thereby saving consumers money on their monthly bills through the monetization of their storage assets.

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David Energy slings power to the people

Climate Tech VC

This week we sat down with James McGinniss, CEO and Co-Founder of David Energy, to learn more about distributed energy resources (DERs) and how David Energy plans to transform the Goliath electricity grid. Described by Bloomberg as “a new kind of energy company,” David Energy is a retail electricity supplier that leverages customer’s onsite energy assets such as smart thermostats, batteries, and EVs into electricity markets. By intelligently adjusting customer demand in real-time via these assets, David Energy is able to deliver cheaper and cleaner electricity contracts than incumbent suppliers. Fresh off a new $4.1m Seed raise and $15m working capital facility announced last week, we sat down with the chief slingshotter himself. [We’ve edited the newsletter version lightly for length; visit our website for the full feature].

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5 Companies Betting Big On Futuristic Energy Tech

Alex Kimani, OilPrice.com

With the clean energy shift beginning to gain serious momentum, the prime candidates for a sustainable future have been solar, wind, and to a lesser extent, geothermal energy and nuclear fission. But new clean energy technology is drawing interest from both corporate investors and retail investors, and what we consider fringe today, such as ocean power and hydrogen, may become mainstream sooner rather than later.

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