Ryse Energy, a global leader in decentralised renewable energy systems, having sold or installed more than 4,000 units for clients worldwide, announces it has raised $15 million in a growth funding round.
The new funding will enable Ryse Energy to enter untapped markets such as North America, where community power and displacing diesel are key focus areas, and Africa, where energy access and powering critical infrastructure such as healthcare and telecoms are strategic priorities. In addition, the company will be hiring globally to keep up with current and future demand, besides expanding its technology offerings and continue to diversify its business model into energy-as-a-service.
The round was led by RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading GmbH, the energy trading arm of the global renewable energy company RWE.
Small wind turbines
Ryse Energy is a primary manufacturer of high-performance small wind turbine technologies and provides a range of additional renewable energy systems, including solar and energy storage. The company has manufacturing facilities in the UK and Spain, with sales offices across the globe including the US, Europe, the UAE and India.
Ryse Energy's renewable systems can be used as standalone technologies, grid-connected or off-grid with energy storage, or hybridised to create bespoke and reliable hybrid renewable solutions. The company works across a variety of sectors, from decarbonising critical infrastructure such as telecoms and oil and gas networks, to marine and agriculture applications, to community power for rural electrification.
"RWE is one of the largest renewable energy companies in the world and we are thrilled to have them as our lead investor and strategic partner," said Alistair Munro, CEO & Founder of Ryse Energy. "This investment will enable us to accelerate our growth and expand our product offering, while continuing to deliver innovative decentralised renewable energy systems to our customers around the world, at the same time reducing greenhouse gas emissions and client energy costs."
"We are excited to support Ryse Energy in its mission to provide clean, renewable energy solutions to customers around the world," said Costas Papamantellos, Managing Director & 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 emission in remote locations, 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 the Ryse Energy and supporting its growth and expansion."
Ryse Energy will also invest in its current technologies to become certified for specific target markets and in addition, the funding will enable Ryse Energy to expand its manufacturing capacity in strategic locations, with the company currently reviewing additional manufacturing locations in the USA, the UAE and India.-- TradeArabia News Service