On.Energy

Overview
News
Alternative Energy?
Energy Optimization & Management Software?
Product stageSegments
Early
?
Stationary energy storage
?

On.Energy is a US-based, battery energy storage systems (BESS) developer that also offers AI-powered energy management software and analytics for grid-scale projects. The company is headquartered in Miami and also operates offices in Texas, Mexico, and Peru.

Key customers and partnerships

As of February 2024, the company has delivered over 30 BESS projects for various commercial and industrial locations in North, Central, and South America. Additionally, On.Energy has a total project pipeline of nearly 2.8 GWh.

Funding and financials

On.Energy’s most recent financing round was in December 2023, when the company secured a funding facility totaling over USD 40 million from Live Oak Bank. The company planned to use the funds to support the construction of an 80 MWh portfolio in Texas, known as the Palo Verde Projects.

Prior to this in June 2023, the company raised USD 20 million in equity financing in a Series B funding led by Ultra Capital. The company intended to use a portion of the funds to accelerate the development, construction, and operation of its ESS in the Electric Reliability Council of Texas (ERCOT) market.

HQ location:
2900 SW 28th Terrace, Suite 701 Miami, FL Miami FL USA
Founded year:
2016
Employees:
101-250
IPO status:
Private
Total funding:
USD 185.0 mn
Last Funding:
USD 25.0 mn (Debt Financing; Apr 2024)
Last valuation:
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Company profile
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