Zug-based energy storage company Terralayr has raised €77 million in funding, including €62 million in equity and €15 million in debt.
The funding round was led by Creandum, Earlybird, Norrsken VC, Picus Capital, and Rive Private Investment. Terralayr plans to use the funds to accelerate the expansion of its battery storage systems and further develop its energy flexibility platform.
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Scaling Battery Storage Solutions
Founded in 2022 by Philipp Man and Ludwig Wurlitzer, Terralayr positions itself as a fully integrated storage aggregator. The company’s platform offers “energy flexibility as a service,” providing grid-scale battery storage solutions to power producers, traders, grid operators, and large power consumers like data centers. This model allows customers to benefit from battery storage without the operational burden of managing physical assets.
Driving the Transition to Renewable Energy
The company’s technology is designed to support the integration of renewable energy by addressing energy storage needs. With development agreements for over 5GW of storage, Terralayr’s services help optimize capacity, providing stable returns for battery owners while promoting renewable energy adoption. The startup aims to create a marketplace for energy storage, facilitating flexibility on demand to overcome challenges in the transition to a net-zero future.
CEO Philipp Man emphasized the importance of energy storage in the net-zero transition, noting that their platform enables customers to unlock the potential of this multi-trillion-dollar asset class.
