terralayr announces €192 million equity raise

terralayr, an energy flexibility provider, has announced the closing of two equity tranches totalling EUR 192 million including an EUR 80 million upsizing option. The financing round was led by European investment firm Eurazeo, specifically its infrastructure division, and was supported by existing shareholders, including RIVE Private Investment, according to a press release.

The funding will enable terralayr to further grow its grid-scale battery storage portfolio in Germany, while scaling the company’s LAYR flexibility-as-a-service platform. 

Eurazeo joins existing institutional investors like RIVE Private Investment, Creandum, Earlybird, Norrsken VC and Picus Capital.  

terralayr develops, owns and operates grid-scale battery energy storage systems. The asset business is supported by its software platform LAYR, which virtualizes battery assets, and provides a route-to-market solution. The platform offers tolling structures, flexibility auctions and value-enhancing risk management — both to terralayr’s own assets, as well as to third party BESS investors and users of flexibility.  

“We are very happy to welcome Eurazeo to our shareholder base and appreciate the continued support from existing investors like RIVE. Their backing is essential in allowing us to accelerate the build-out of much needed flexibility infrastructure in Germany,” said Philipp Man, Co-Founder and CEO of terralayr. “This capital raise will enable us to increase the pace of our asset growth in Germany, which is critical for the scaling of our digital platform. This will make us an even stronger partner to utilities, asset owners, flexibility traders, and other users of flexible power assets.”

“terralayr develops and manages infrastructure that addresses a fundamental need for flexibility and stability in the power grid,” said Melissa Cohen, Co-Head Infrastructure of Eurazeo. “We believe terralayr is well-positioned to contribute to Germany’s energy transition by developing a solid asset base, underpinned by its virtual marketplace.”