Led by former Tesla Power govt, Kunal Girotra, Lunar Energy was based in August 2020 with the mission to affect the house and supply power independence. On the premise and its expertise, it has raised $300 million in funding over two rounds by Sunrun, the nation’s main residential photo voltaic and battery storage supplier, and South Korea’s SK Group.
“As an entrepreneur, I’m at all times on the lookout for these uncommon alternatives the place you may spend money on distinctive individuals with an enormous imaginative and prescient,” stated Lynn Jurich, Chair of Lunar Power and co-founder, co-executive chair of Sunrun. “Kunal, and the engineering staff at Lunar Power, are constructing at scale residence electrification merchandise that may dramatically speed up the change from fossil fuels to renewables.”
Making its official debut final week, the corporate’s first product is a house battery system. With that because the constructing block, extra residence and grid interactive ideas are set to comply with.
“Lunar Power was based to construct reasonably priced {hardware} and software program merchandise for the residential sector to assist owners generate, retailer and eat 100% clear power and take away the utilization of fossil fuels from each residence,” stated Kunal Girotra, Founder and CEO of Lunar Power.
Lunar additionally acquired Moixa, a software program firm for distributed power assets (DER) administration, to benefit from its GridShare software program to handle 1000’s of batteries throughout Europe and Japan.
“From our early patents in sensible properties to managing the world’s largest single fleet of residence batteries, our Gridshare software program has led the business for greater than 10 years and considerably superior sensible residence charging,” stated Simon Daniel, CEO and co-founder of Moixa. “In becoming a member of Lunar Power, we have now the thrilling alternative to pursue even larger scale for Gridshare by aggregating bigger fleets of batteries internationally to raised handle clear power intelligently for owners and companies.”
Now dubbed Lunar Gridshare, it’s deployed at scale throughout 35,000 properties (330MWh of batteries) through ITOCHU in Japan, helps superior sensible charging companies for Honda electrical autos, and facilitated UPS’s transition to electrical automobile fleets within the UK. ITOCHU and Honda, earlier traders in Moixa, now additionally be part of Lunar’s staff of traders.
The capital raised has been used to rent nice expertise, purchase Moixa, and spend money on product growth and manufacturing actions so as to deliver Lunar’s first product to market later this 12 months.
Lunar has constructed a staff of practically 250 workers globally, most of whom are a mixture of {hardware}, firmware and software program engineers designing and constructing power merchandise in its Mountain View, CA and London, UK places of work.
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