PowerFlex, an EDF Renewables North America affiliate and supplier of clever photo voltaic, storage and electrical automobile charging options for business and industrial clients, has acquired a $100 million funding from Manulife Funding Administration (Manulife IM) on behalf of traders. With this transaction, Manulife IM holds a minority stake in PowerFlex and has joined its board of administrators; EDF Renewables retains majority possession. Manulife IM has additionally acquired a portfolio of present working property to function the premise for a devoted financing automobile for future tasks.
PowerFlex plans to make use of the proceeds of this capital increase to additional spend money on PowerFlex X, its proprietary line of software program and {hardware} that intelligently integrates and co-optimizes onsite power property, and centralizes management, information assortment and reporting right into a single digital platform. The funding can even allow PowerFlex to speed up the deployment of onsite photo voltaic, storage and EV charging.
“We’re excited to accomplice with Manulife Funding Administration, whose crew brings an in-depth understanding of infrastructure tendencies that may assist us proceed offering our purchasers with dependable and cutting-edge clear power options,” says Raphael Declercq, CEO of PowerFlex. “PowerFlex’s accompanying digital merchandise optimize the system efficiency of all onsite power property to generate higher price financial savings and improve effectivity. The funding will assist advance our mission of electrifying the transportation sector and deploying low-carbon infrastructure in a approach that additionally helps a cleaner, extra decentralized and resilient grid.”
PowerFlex has deployed and operates roughly 10,000 chargers, which will be built-in with photo voltaic and storage programs for elevated resiliency and cost-savings.
“We’re comfortable to accomplice with EDF Renewables and play a job in PowerFlex’s development to assist its clients obtain their sustainability and decarbonization objectives,” states Pradeep Killamsetty, managing director of infrastructure investments at Manulife Funding Administration. “We see a powerful development alternative for PowerFlex’s clever options, which allow organizations and enterprises to cut back power prices and improve resiliency by integrating and co-optimizing a number of applied sciences, together with photo voltaic, battery storage, EV charging and microgrid programs.”
“EDF Renewables consolidated its onsite photo voltaic, storage and EV charging choices beneath the PowerFlex model in 2021 to satisfy the rising demand for onsite clear power and EV infrastructure,” provides Tristan Grimbert, president and CEO of EDF Renewables North America. “As a frontrunner within the renewable power sector, we’re happy to accomplice with Manulife Funding Administration – an organization that shares our values of sustainability and innovation – to speed up the deployment of the cutting-edge answer that PowerFlex provides business and industrial clients to decarbonize their onsite power.”
