WASHINGTON, Dec. 16, 2022 — Arcadia, the technology business facilitating the global energy transformation, announced that it had secured USD 125 million in additional capital led by Magnetar Capital, with participation from current investor Keyframe Capital. The Green Investment Group at Macquarie Asset Management also participated in the round. Eric Scheyer, Magnetar’s Partner and Head of Energy and Infrastructure, will join the Arcadia Board of Directors.
The expansion financing will be used to support the ongoing development of Arcadia’s game-changing Arc platform and advance the company’s industry-leading community solar business. Over 300 new energy firms use Arcadia to customize energy solutions such as producing auditable carbon accounting reports, optimizing EV charging schedules, developing rooftop solar and storage offers, and providing community solar savings on a single bill.
The expansion funding will help Arcadia continue to expand its game-changing Arc platform and accelerate its industry-leading community solar business. Over 300 new energy firms use Arcadia to customize energy products, such as providing auditable carbon accounting reports, optimizing EV charging schedules, creating rooftop solar and storage bids, and delivering community solar savings on a single bill.
“Arcadia has the potential to play a transformative role in the global energy transition,” said Eric Scheyer, Magnetar’s energy and infrastructure business leader. “With its strong size and emphasis on data quality, the Arc platform is positioned to play a critical role in supporting the decarbonization activities and innovations that are increasingly fundamental to the global economy.”
Arcadia made tremendous progress in combating climate catastrophe through data access in 2022. Arcadia is poised for tremendous expansion and influence in the years ahead, thanks to the purchase of Urjanet in May, the recent agreement for Arc to serve as the utility data supplier for the Salesforce Net Zero Cloud platform, and the addition of experienced board members.
Arcadia is a climate technology firm that helps to enable a zero-carbon economy. The Arc platform integrates easy-to-use data and APIs under one roof for the first time, allowing any firm to act on its environmental effect and develop the next generation of energy goods and climate tech solutions. Arc democratizes data access from hundreds of utility providers in 52 nations, encompassing more than 95% of residential and business utility customers in the United States.
Arcadia, founded in 2014 on the conviction that everyone deserves access to clean energy, also maintains the nation’s biggest community solar portfolio, assisting in the fight against energy injustice while encouraging economic growth with over 1.3 GW of solar under management.
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