Greensmith Raises $18.3M in Series C Funding

Greensmith, a Herndon, VA-based provider of energy storage solutions, raised $18.3m in Series C funding. Backers included E.ON (ETR: EOAN). The amount also included a previous $5m strategic investment from American Electric Power (NYSE: AEP).

Greensmith provides grid proven, energy storage software, services & systems featuring
a Battery/PCS agnostic technology platform for multiple grid applications on both sides of the meter.

Greensmith was established in 2008, and specializes in software and control solutions to operate and manage Distributed Energy Storage Systems (DESS) for utility-scale, C&I or Micro-grid deployments often tied to renewable generation.

The company started as a battery-agnostic system integrator and software developer, combining multiple battery types and power conversion systems with proprietary firmware and software to orchestrate and maximize performance and safety. With several patents pending and a core technology and management team driving a unique technology strategy, Greensmith has deployed over thirty projects in the field, establishing itself as a leader in the distributed energy storage market.

The company’s 4th generation of software (release Q4 2013) continues to be battery-agnostic capable of addressing a large variety of battery types and chemistries. Greensmith uses command protocols which easily integrate into various legacy and emerging operations and control centers. Our software has been field-tested and endorsed by industry experts such as Electric Power Research Institute (EPRI), Sandia National Labs and KEMA. With this flexible new generation of software and network architecture, Greensmith is delivering a secure, scalable, cloud-controlled energy storage solution. In addition, the current architecture is capable of advanced data processing and analytics, providing customizable energy solutions for customers’ individual load or generation profiles.

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