INDUSTRY NEWS

6
Oct

25 Million USD Financing For Distributed ES projects For C&I Storage

A California energy technology company has obtained an investment of $25 million and will fund distributed energy storage projects for commercial and industrial (C&I) customers.

JLM Energy Phazr battery pack is plug-and-play, distributed energy storage platform intended for large-scale deployments. It is a module-level battery pack and this makes it stand out from other enterprise storage solutions. The investment will speed up the deployment of energy storage applications in the C&I market. A market that according to the Navigant Research report “the annual revenue for the commercial and industrial energy storage industry is expected to reach $10.8 Billion by 2025.”

Ardes Johnson, JLM’s vice president of strategic initiatives, says, “This funding will enable our customers to immediately realize savings and achieve control over monthly utility expenses.”

According to the company, Phazr will reduce operations and maintenance expenses, as well as the expenditures for design and installation. Customers will receive an optimized solution and a chance to regulate their monthly utility bills.

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Image Credit: JLM Energy

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