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ConnectDER Secures $35 Million in Series D Funding

In a groundbreaking development for resilient home energy technology, ConnectDER has announced a significant $35 million raise in its Series D funding round. This investment is crucial for accelerating the company’s scaling efforts and product innovation, allowing it to make strides in delivering transformational energy solutions across North American homes. The funding was led by Decarbonization Partners, a collaboration between BlackRock and Temasek, alongside new investors like MassMutual Ventures, and participation from existing investors such as Avista Development and Energy Innovation Capital.

The announcement marks a pivotal moment for ConnectDER as it prepares to launch its next-generation Meter Socket Adapter (MSA), named 'IslandDER™'. This innovative technology is designed for seamless integration with utility grids, allowing for the effective islanding of various energy sources including solar power, battery storage, and electric vehicles (EVs). Through the use of IslandDER, homeowners can achieve whole-home backup and resilience without the usual burdens of costly installations.

Dr. Meghan Sharp, Global Head and Chief Investment Officer of Decarbonization Partners, expressed enthusiasm regarding the collaboration, emphasizing how ConnectDER addresses significant adoption hurdles for customers seeking affordable home electrification in North America. “We are committed to supporting the ConnectDER team as they pursue their expansion and growth,” she said, illustrating the confidence in their vision to make energy solutions more accessible.

Ivo Steklac, CEO of ConnectDER, elaborated on the direction the funding will steer the company, emphasizing the urgent market need for effective energy storage systems. He stated, “Our forthcoming IslandDER allows homes to disconnect and reconnect from the grid, enabling users to utilize stored energy from renewable sources efficiently.” This focus not only improves energy resilience but also aligns with environmentally friendly practices, positioning ConnectDER as a vital player in the green energy movement.

With over 60 million homes in the U.S. lacking the capacity for renewable energy solutions, ConnectDER's approach significantly lowers the entry barriers for homeowners. Their products can be installed in just minutes and at a fraction of the cost associated with traditional service panel upgrades, thus driving broad adoption of solar and EV technology. This innovative solution could potentially create numerous jobs as the deployment sped up across the country.

The market response to ConnectDER’s technology has been overwhelmingly positive. Chris Lundell, interim Chief Executive Officer at Blue Raven Solar, highlighted how partnerships with innovative companies like ConnectDER simplify the journey toward renewable energy. “Leveraging technologies such as ConnectDER adapters help us streamline operations and install reliable renewable solutions,” he stated, showcasing the dual benefits of technology and customer satisfaction.

Through this recent funding round, ConnectDER is not only focusing on enhancing its product offerings but also on growing its manufacturing capabilities and market reach. With over 25,000 existing adapters currently in operation and approved for use in various states, the company is eyeing national sales within the upcoming years and is excited about the increasing interest from stakeholders recognizing the potential for affordable and resilient energy solutions.

About ConnectDER

ConnectDER is dedicated to maximizing the potential of Distributed Energy Resources (DERs), providing a simplified interconnection solution for various energy technologies. Their innovative approach allows for faster, safer installations while lowering typical costs, benefiting users, the infrastructure, and the environment alike. The company’s solutions are currently approved in over 20 states, translating to more than 16 million households.

About Decarbonization Partners

Decarbonization Partners is a joint initiative between Temasek and BlackRock that focuses on cultivating late-stage venture capital investments in next-generation technology firms. They are driven by the mission to facilitate the global transition to a net-zero economy, investing in enterprises that showcase potential for sustainable growth and innovation.

As ConnectDER continues to expand, the company welcomes stakeholder engagement in its mission to revolutionize home energy management. For more information about ConnectDER’s innovative solutions, visit www.ConnectDER.com.