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Uplight Adds New Investors Schneider Electric and Huck Capital-Led Investment Group in Deal Valued at $1.5 Billion, with Growth Capital to Accelerate the Clean Energy Ecosystem
Uplight Adds New Investors Schneider Electric and Huck Capital-Led Investment Group in Deal Valued at $1.5 Billion, with Growth Capital to Accelerate the Clean Energy Ecosystem
03/03/21, 5:09 AM
Location
boulder
Money raised
$1 billion
Industry
natural resources
software
Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, announced today that it has agreed to a new investment from a consortium of investors, co-led by Schneider Electric (EURONEXT:SU), the global leader in sustainable energy solutions; AES (NYSE:AES), a global company accelerating the future of sustainable energy; and a group of private equity investors led by Huck Capital that includes Coatue and Inclusive Capital Partners Spring Fund II. Uplight is valued at $1.5 billion in the transaction, which includes the investment of new equity to support significant organic and inorganic growth and adds world-class strategic and financial partners as the energy industry surges forward into transformation. Prior Uplight majority investor Rubicon Technology Partners, who along with AES led the formation of Uplight through the merger of six companies, will also remain a minority investor.
Company Info
Location
boulder, colorado, united states
Additional Info
Founded in 2012 as Tendril Networks, the company was later renamed to Uplight in 2019. Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its clients to make energy more sustainable for every community. Uplight is a certified B Corporation.
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