Arcadia, a global utility data and community solar platform, recently announced the closing of a growth round of financing that will further support the expansion of its market-leading community solar program. The round welcomed a new equity investor, Macquarie Asset Management, along with existing investors such as Energy Impact Partners and J.P. Morgan Asset Management, among others.
The funding will enable Arcadia to meet the increasing demand from their enterprise customers and community solar developer partners, allowing them to accelerate the deployment of new solutions like battery storage, heat pumps, and EV charging. By leveraging AI and their extensive energy data, Arcadia aims to innovate and unlock new use cases that contribute to advancing climate solutions.
Greg Callman of Macquarie Asset Management expressed excitement about the partnership, highlighting Arcadia’s role in driving climate innovation through their data platform. Additionally, Arcadia secured a new $30M credit facility with J.P. Morgan, further enhancing their financial flexibility and reducing their cost of capital.
In 2023, Arcadia made significant strides in centralizing energy data for businesses, enabling climate innovators, and ensuring access to community solar for businesses and consumers. This recent round of financing positions the company for continued growth and development in 2024 and beyond.
As a key player in the climate technology space, Arcadia partners with major corporations to address energy data, reporting, and decarbonization challenges. They recently achieved a milestone by managing 2 gigawatts (GW) under their community solar program, earning recognition as one of America’s Top GreenTech Companies by TIME and Statista.
Founded in 2014, Arcadia is committed to connecting the clean energy future by providing access to clean energy for all. Their data platform serves as a catalyst for electrification and decarbonization efforts, driving sustainable solutions for a greener planet.
For more information about Arcadia and their innovative solutions, visit their website at arcadia.com.
Source link
