Energy storage is a booming technology that promises to revolutionize the way consumers power their homes and businesses.
In fact, the company that has helped transform the industry is already looking for a second wind and launching a spin-off company.
Energy Storage is a thriving technology that promised to revolutionise the way Americans power their home and businessesThe Wall Street JournoListEnergy storage is booming technology That promise is at the heart of Energy Storage, a San Francisco startup that has already raised $15 million to expand its product line and hire more staff.
The startup, which has built a reputation for being quick to hire new staff, has a big idea: to provide Americans with the energy they need to stay safe in the event of a major disaster.
The company is already using its existing equipment to store electricity from wind turbines in California.
The company says that it can store as much as 80 percent of that electricity in batteries.
It also claims that it’s the only company to be able to store up to 1,000 megawatts of electricity.
“We are a world leader in energy storage and have been for years,” said Matt Bickert, Energy Storage’s chief executive officer.
“But our business model is different than many other companies.
Our business model, which is based on being a storage company, is more akin to a utility.”
It is the second time in less than a year that the company has gone public.
The first was in October 2017, when the company announced it had raised $12 million to build a second facility in the San Francisco Bay Area.
The next month, it announced it was expanding its operations to New York.
Last year, the San Jose-based company announced that it was planning to move its operations from its California factory to its new manufacturing facility in New Jersey.
Bickart said the company had begun construction in New York in the summer of 2018.
In 2018, the Energy Storage company was acquired by SunPower Corp., a division of SunPower Energy Services LLC, the parent company of EnergySource and SunPower.
Bikram Kaur, a SunPower spokesman, said in an email that the acquisition did not change SunPower’s business model.
“SunPower is focused on delivering the best power to customers,” Kaur wrote.