Equilibrium Energy, a San Francisco-based technology company focused on accelerating the transition to clean power, announced it has secured $39 million in Series B funding. The round was led by DCVC, with participation from Breakthrough Energy Ventures and Valo Ventures.

The funds will support the company's mission to provide clean energy solutions by enhancing its work with battery developers and corporate partners. The company specializes in the intersection of AI, power systems, and modern software, aiming to optimize energy storage and management across the power grid.

Led by CEO and Founder Ryan Hanley, Equilibrium Energy has made significant strides in the market, recently expanding into California with a 40MW/40MWh battery toll contract signed in July. The company now boasts 260MW/380MWh of contracted battery tolls across ERCOT and CAISO and is growing its pipeline with an additional 6GW of battery tolling projects.

Several key leadership hires were also announced: Kevin McEntee, former head of engineering at Netflix, joins as Head of Engineering; Jeffrey Woods, previously of JPMorgan Chase, will lead Finance and Operations; Jace Kohlmeier, formerly of Citadel, takes on the role of Head of Trading; and Caitlin Walsh, previously with the Canada Pension Plan Investment Board, joins as Head of Capital Markets.

Equilibrium Energy aims to continue expanding its footprint in the clean power space with this new round of investment.

Source: businesswire.com