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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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Cleantech startup David Energy scores $19 million to transform the aging power sector and make way for a surge of clean energy

Benji Jones, Business Insider

Cleantech firm David Energy, a startup trying to redefine the power business, has raised $19.1 million in new financing, the company announced Tuesday. The funding includes seed capital from a few small VC firms and a credit line from the commodity trading firm Hartree Partners.

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New York’s David Energy has raised $4.1 million to ‘build the Standard Oil of renewable energy’

Jonathan Shieber, Tech Crunch

“We intend to build the Standard Oil of renewable energy,” said James McGinniss, the co-founder and chief executive of David Energy, in a statement announcing the company’s new $19 million seed round of debt and equity funding. McGinniss’ company is aiming to boost renewable energy adoption and slash energy usage in the built environment by creating a service that operates on both sides of the energy marketplace.

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David Energy Secures $19 Million In New Financing To Launch A New Kind of Electricity Supplier

David Energy

David Energy, a new kind of electricity supplier, today announced the close of $19 million in new financing. The new capital includes a $4.1M Seed round led by Equal Ventures and a $15 million working capital facility from Hartree Partners, a global merchant commodities firm specializing in energy and its associate industries. Additional seed investors include Operator Partners, Box Group, Greycroft, Sandeep Jain and Xuan Yong of RigUp, returning angel investor Kiran Bhatraju of Arcadia, and Jason Jacobs’ recently launched MCJ Collective, an early-stage climate tech fund.

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