terralayr, a Swiss-based energy storage company, has successfully secured €77 million in funding to expand its battery storage systems. The funds, comprising €62 million in equity and €15 million in debt, were raised from investors such as Creandum, Earlybird, Norrsken VC, Picus Capital, and Rive Private Investment. This investment is set to bolster terralayr’s development and deployment of advanced storage solutions, catering primarily to utilities and data centers. As global energy demands grow, the role of efficient energy storage becomes ever more crucial for the integration of renewable energy sources.
In past developments, terralayr has been recognized for its innovative approach to energy storage, having previously secured significant partnerships and projects aimed at optimizing grid capacity. Their focus has been on providing accessible energy solutions tailored to meet the demands of a growing market, which aligns with their recent funding endeavors. Notably, terralayr has differentiated itself with its unique “flexibility as a service” model, which is not traditionally offered by other storage providers. This model underscores the company’s commitment to providing scalable and efficient storage solutions.
What drives terralayr?
Founded in 2022 by Philipp Man and Ludwig Wurlitzer, terralayr has quickly positioned itself as a key player in energy storage. The company operates with a mission to address the critical need for energy storage in a net-zero world. Philipp Man, Founder and CEO of terralayr, emphasized the importance of their role in the renewable sector, stating:
“In a net-zero world, energy storage is the key missing piece to drive the integration of all the renewable generation assets that are hitting the grid. Our positioning as a fully integrated storage aggregator enables us to unlock the fly-wheel from this future multi-trillion dollar asset class – delivering to customers such as data centres and utilities all the benefits of battery storage without the burden of the physical operation of assets.”
How does terralayr’s service model work?
terralayr offers a proprietary cloud-like software platform that provides “flexibility as a service” to various energy sector stakeholders. This approach allows power producers, traders, grid operators, and large power consumers to benefit from grid-scale battery storage without the physical asset burden. The flexibility services can range from durations of less than 15 minutes to up to 15 years, offering a versatile solution for optimizing energy storage capacity.
The company’s innovative service model enables higher and more stable returns for grid-scale battery owners. With development agreements already in place for over 5GW, terralayr is well-positioned to expand its influence in the energy storage market. Its first asset, trlyr1, became operational in May 2023, marking a significant milestone in its expansion efforts.
terralayr not only provides a marketplace for energy storage but also seeks to address significant barriers to renewable energy adoption. By enabling on-demand flexibility, the company is contributing to the broader goal of achieving net-zero emissions. The leadership team, comprising experts from renowned companies like Limejump, RWE, Fluence, and Pexapark, brings valuable industry insights to steer its growth trajectory effectively.
terralayr’s recent funding marks a solid step towards enhancing its storage offerings and scaling up its operations. This financial boost will likely accelerate the deployment of its battery systems, which are crucial for supporting the increased adoption of renewable energy. As global energy landscapes evolve, terralayr’s approach could serve as a model for other companies seeking to innovate within the energy storage sector.
