Massachusetts, U.S.A-based market operator for renewable energy and battery storage developers and asset owners, SYSO Technologies closed its Series A round at USD 10 million. The company announced the closure on October 25, 2022. Lacuna Sustainable Investments led the investment for the firm.
Purpose of funding for SYSO Technologies
With the latest proceeds from the Series A round, SYSO Technologies intends to fund expansion into new domestic and international markets.
It also has plans to grow its software engineering, operations, and sales teams.
What the company’s official has to say
SYSO Technologies’ CEO, Chris Gosline, said, We are thrilled to have Lacuna on this journey with us. There is a natural synergy here. Lacuna invests in many of our client’s projects which offers us access to a sizeable commercial opportunity. Their deep understanding of this ecosystem will be invaluable as we scale.”
What the investor has to say
Lacuna Partner, Patrick McConnell, said, “We invest in teams making an immediate impact developing and managing renewable assets creating meaningful change in the market today. Every day we hear of new utility-scale solar and battery storage announcements. However, very few are focusing on who will operate those assets to optimize value for the asset owners and the grid. Moreover, it can be quite complicated. We believe the SYSO team to be the best operators in the industry and genuine experts in the field. Further, with their involvement in each project/portfolio generating more revenue for their partners, thereby accelerating the proliferation of renewables on the grid.”
What the advisor has to say
Gardner MacDonald, the co-founder of Global Power Partners, who advised SYSO in the funding round, said, “We were impressed with SYSO and pleased to assist in this transaction. SYSO’s demonstrated success and rapid growth is attributable to the team’s intelligence, practical market knowledge, and years of experience operating thousands of generating assets daily in global electricity markets. Their knowledge and experience are immensely helpful to developers and asset owners who are seeking to understand the value of energy storage in this rapidly evolving market.”
About the company
In 2019, Founders Christopher Gosline and Nicholas Speyer launched the company. The company manages renewable energy and storage project operations for developers and independent power producers, maximizing their value per megawatt. The company provides services such as asset registration, commissioning, operation, optimization, reporting, and settlement.
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