Tuesday, January 30, 2024

Haven Energy Gets $7M For Virtual Power Plants

Los Angeles-based Haven Energy, a company which focuses on selling home battery storage systems for "virtual power plants", has raised $7M in a Series A funding. The funding was led by Giant Ventures, and also included Lerer Hippeau and Raven One Ventures, plus Comcast Ventures, LifeX, TO VC, and Habitat Partners. Haven Energy helps homeowners install home batteries, and links them together into the various "virtual power plant" programs being run by various energy utilities--especially in states like California-- to store solar power for use at critical times of the day; those virtual power plants are used to ease the impact on the grid, typically on transition from the daytime when solar power is abundant to night time, when sources like natural gas provide the bulk of energy. Vinnie Campo is founder and CEO of Haven Energy.