Zug-based terralayr secures €77M for its ‘energy flexibility as a service’ platform: Know more

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Zug-based terralayr, a company specialising in energy storage, has secured €77M (€62M in equity and €15M in debt) in funding — from Creandum, Earlybird, Norrsken VC, Picus Capital, and Rive Private Investment. 

The Swiss company will use the funds to accelerate the expansion of its battery storage systems.

Philipp Man, Founder and CEO of terralayr says, “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.”

Terralayr: AWS of grid storage

Founded by Philipp Man and Ludwig Wurlitzer in 2022, terralayr is a developer and owner-operator of battery storage assets with a focus on the German market. 

The company offers “flexibility as a service” through its proprietary cloud-like software platform, targeting various players in the energy sector, such as power producers, traders, grid operators, and large power consumers such as data centres.

The company offers flexibility services with durations from less than 15 minutes up to 15 years, allowing customers to gain all the benefits of grid-scale battery storage without the overhead of a physical asset.

For grid-scale battery owners, this offers a new way to optimise capacity, generating higher and more stable returns.

terralayr has already secured development agreements for over 5GW both through an in-house greenfield development team and through partners.

The company acquired its first asset, trlyr1, in May 2023, which has been operational since then.

By introducing a marketplace for energy storage and enabling flexibility on demand, terralayr aims to help overcome important hurdles to adopt renewable energy and play a role in the drive to net zero.

Currently, the company’s leadership team consists of industry experts from companies like Limejump, RWE, Fluence, Next Kraftwerke, and Pexapark.

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Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

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