Battery Energy Storage Solutions (BESS) has raised a £50M equity investment by a group of investors led by New York based Tiger Infrastructure Partners.
The firm will use the money to maintain its build out of grid scale battery storage and fulfil its pipeline of behind the meter opportunities.
The company seeks to acquire new projects from developers to grow its portfolio, which it says which will be over 60MW in the UK by the end of next month.
“This capital raised has demonstrated the credibility of our battery storage proposition,” said BESS co-founder James Basden.
“It enables BESS to pursue the acquisition of grid-scale projects at the right locations. We also want to support behind-the-meter battery applications with large scale industrial and commercial users of electricity”.
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