Sunya Get smarter about energy transition
  • Home
  • Industry News
  • Newsletter
  • Podcast
  • Contact Us
Sunya
Industry News
April 11, 2024

Arcadia raises $50M to accelerate product innovation and fuel continued growth

Newsfeed
Arcadia raises $50M to accelerate product innovation and fuel continued growth:

WASHINGTON, April 11, 2024 /PRNewswire/ — Arcadia, a global utility data and community solar platform, today announced the close of a growth round. This financing will support the continued growth of the company’s market-leading community solar program, alongside product innovation leveraging AI to unlock new use cases built on the company’s trove of energy data.

The round includes a fund managed by Macquarie Asset Management (“Macquarie”) as a new equity investor, alongside existing investors Energy Impact Partners, J.P. Morgan Asset Management, BoxGroup, G2 Venture Partners, Camber Creek, Triangle Peak Partners, and Broadscale Group.

“With this funding, Arcadia can continue to meet growing demand from our 300+ enterprise customers and 75+ community solar developer partners, all of whom are accelerating deployment and adding new solutions like battery storage, heat pumps, and EV charging to their portfolios,” said Kiran Bhatraju, founder and CEO of Arcadia.

“We believe Arcadia and their technology sit at the center of so much climate innovation,” said Greg Callman of Macquarie, who will also join the company’s Board of Directors. “Their data platform aims to unlock utility and energy data for a wide range of businesses and use cases, enabling the next wave of climate solutions. I’m excited to join the Arcadia team as a board member and look forward to seeing their continued growth and innovation.”

Concurrent with the close of the growth round, Arcadia closed a new $30M credit facility with J.P. Morgan. The facility, alongside an amendment to its existing facility with TriplePoint Capital, provides incremental financing flexibility at a lower cost of capital.

In 2023, Arcadia saw significant progress in its mission to build a foundational, comprehensive platform that centralizes energy data for businesses, empowers climate innovators, and facilitates access to community solar for businesses and consumers. This financing serves to fuel continued growth across business lines in 2024 and beyond.

Arcadia continues to partner with the world’s largest corporations to help solve their energy data, reporting, and decarbonization challenges. This year, Arcadia became the first community solar provider to reach 2 gigawatts (GW) under management, and was recognized as one of America’s Top GreenTech Companies by TIME and Statista. 

About Arcadia

Arcadia is a climate technology company connecting the clean energy future. Our data platform unlocks global energy data for businesses, powering solutions to drive electrification and decarbonization. Founded in 2014 on the belief that everyone deserves access to clean energy, Arcadia also manages the nation’s leading community solar program. Learn more at arcadia.com.

Media Contact: [email protected] 

SOURCE Arcadia

TAGS: #industrynews
PREVIOUS ARTICLES
Home > Industry News
April 11, 2024

Brightmark® RNG Holdings Completes Eloy Development, Launching Renewable Natural Gas Production in the US Southwest

NEXT ARTICLES
Home > Industry News
April 11, 2024

California Resources Corporation Achieves MiQ “Grade A” Certification for its Los Angeles Basin Assets

Comments are closed.
Related Post
May 7, 2024
TPG Rise Climate to Acquire Olympus Terminals,
December 2, 2024
Brevik Carbon Capture Plant Reaches Mechanical Completion
May 22, 2024
Carbon Streaming Announces Landmark Azuero Reforestation Carbon
November 7, 2024
Artio Secures £550k to Revolutionise Early-Stage Carbon

Recent Posts

  • EOG Resources to Acquire Encino Acquisition Partners from CPP Investments and Encino Energy, Strengthening Premier Utica Asset; Increases Regular Dividend 5%
  • Port Arthur LNG Phase 2 Receives Non-FTA Export Authorization
  • Northwind Midstream Partners Announces Permitting of Third AGI Injection Well, Final Approval of MRV Plan, and the Completion of New Compressor Station
  • Nira Energy Partners with Energize Capital to Scale Transmission Automation Software
  • Eavor Deploys Revolutionary New Active Magnetic Ranging System, Drastically Reducing Drilling Rig Time to Connect Lateral Wells

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023

Categories

  • Industry News
  • Newsletter
  • Podcast
Scroll To Top
© Copyright 2024 Sunya Technologies Inc.