Tuesday, August 21, 2018

Arensis Raises $17M In Debt Funding For Distributed Energy Efforts

Los Angeles-based Arensis, a developer of distributed energy systems, announced that it has raised approximately $17M in debt funding from UK-based Hadrian's Wall Secured Investments Limited (HWSIL). According to Arensis, the new funding will go to fund the development of renewable energy facilities in the UK. Arensis is a developer of a microgrid product used for renewable energy projects that convert biomass into energy. According to the company, in the last 12 months, it already purchase two, UK wood pellet production facilities where it has installed its biomass-to-energy technology. Arensis says the target customers for its technology include electricity generation facilities, manufacturing facilities, agriculture and food processing plants, automotive manufacturers and EV charging stations, local farming communities, data centers and commercial and residential buildings. Arensis is led by CEO Julien Uhlig; the company is a portfolio com[pany from the Los Angeles Cleantech Incubator (LACI)