Abu Dhabi, UAE-based global leader in decentralized renewable energy systems, Ryse Energy, raised USD 15 million in growth funding. The round took place on April 11, 2023. An investment vehicle of RWE Supply & Trading GmbH, the energy trading arm of the global renewable energy company RWE, RWE Energy Transition Investments led the financing for the company.
Purpose of financing for Ryse Energy
With the latest growth funding, Ryse Energy seeks to fuel expansion in international regions and foray into untapped markets such as North America and Africa. It also has plans to enhance its technology offerings.
Meanwhile, Ryse Energy aims to diversify its business model into energy-as-a-service.
In addition, the company intends to hire globally to keep up with current and future demand. Moreover, the funding enables 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.
What the company’s official has to say
Alistair Munro, CEO & Founder of Ryse Energy, said, “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. This investment will enable us to accelerate our growth and expand our product offering while continuing to deliver innovative decentralized renewable energy systems to our customers around the world, at the same time reducing greenhouse gas emissions and client energy costs.”
What the investors have to add
Costas Papamantellos, Managing Director & Head of RWE Energy Transition Investments, said, “We are excited to support Ryse Energy in its mission to provide clean, renewable energy solutions to customers around the world. We believe that Ryse Energy has the potential to be a major force for good in reducing greenhouse gas emissions 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 Ryse Energy and supporting its growth and expansion.”
About the company
Alistair Munro 2019 launched the company. The UAE-based startup is an impact-driven, innovative, decentralized renewable energy technology company with more than 4,000 installations across all seven continents.
Ryse Energy is a primary manufacturer of high-performance small wind turbine technologies. It also provides a range of additional renewable energy systems, including solar and energy storage. The company has manufacturing facilities in the UK as well as Spain, with sales offices across the globe, including the USA, Europe, the UAE and India.
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