Ryse Energy, a company that specializes in decentralized renewable energy systems, has successfully raised $15m in a new funding round aimed at accelerating the company's growth, expanding its technology offerings, and entering untapped markets.
The investment was led by RWE Energy Transition Investments, the investment vehicle of RWE Supply & Trading GmbH, the energy trading arm of RWE, a global renewable energy company.
According to Alistair Munro, the founder, and chief executive of Ryse Energy, the investment will enable the company to broaden its product offering, continue to deliver innovative decentralized renewable energy systems to its customers worldwide, reduce greenhouse gas emissions, and help clients save on energy costs. In addition, the company will expand its business model to include energy-as-a-service while hiring globally to meet current and future demand.
Ryse Energy plans to focus on markets in North America and Africa, where there is a significant demand for renewable energy solutions. By leveraging RWE's experience and expertise, Ryse Energy aims to provide reliable and sustainable energy access to over one billion people who currently lack access to electricity globally. The investment will also enable the company to reduce greenhouse gas emissions in remote locations.
“We are excited to support Ryse Energy in its mission to provide clean, renewable energy solutions to customers worldwide,” said Costas Papamantellos, the managing director and head of RWE Energy Transition Investments. “We believe that Ryse Energy has the potential to be a major force for good in reducing greenhouse gas emissions 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.”
