2030 Finance | July 14, 2017

Advanced Microgrid Solutions closes $34 million Series B

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Advanced Microgrid Solutions is an energy storage company whose “Amada” software platform helps utilities manage a growing number of distributed energy sources — like home solar systems — flowing into mainstream utility grids.

These sources can cause power fluctuations, voltage issues and higher demand charges, and managing them is expected to be a growing issue for utilities in the near-term.

California-based Advanced Microgrid Solutions has raised $52 million in equity funding to date, including the latest round, which was led by DBL Partners, utility company Southern Company, and utility-backed investment fund Energy Impact Partners.

Arnold Schwarzenegger also participated in the round.

The company will use the funds to scale up its software platform while it works to build energy storage facilities with $200 million in infrastructure financing from Macquarie Capital.