Renewable energy startup Accelergen Energy has successfully raised US$30 million in funding to advance its solar and storage initiatives.
Leyline Renewable Capital has provided the financial backing to Accelergen Energy. In a statement, the company expressed its intention to utilize the funds to develop a robust portfolio of solar and storage projects with a total capacity reaching multiple gigawatts. The company also plans to establish a dedicated team specializing in grid and market analytics, project development, engineering, and finance to bolster its growth.
Thomas Houle, co-founder and CEO of Accelergen Energy, emphasized the significance of incorporating experienced grid and commercial analytics into the company's strategy. He stated, “A key aspect of Accelergen's approach involves bringing experienced grid and commercial analytics in-house as a strategic advantage. Our ultimate goal is to help accelerate the energy transition to zero carbon power generation, by bringing premium projects located in sustainably robust grid locations to long-term investors and/or owners of operating projects.”
Based in Austin, Texas, Accelergen Energy engages in various aspects of the renewable energy sector, including site identification, land acquisition, and project design and construction. The company's website highlights that it has already integrated over 3GW of projects into the current US grid.
In addition to the recent funding secured by Accelergen Energy, Leyline Renewable Capital forged a partnership with Solterra Energy in June. Under this collaboration, Leyline provided US$10 million to support the development of distributed generation (DG) and utility-scale solar projects across the eastern United States, with a capacity potential of up to 1GW.
