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SYSO Technologies Closes $10 Million Series A Funding
Renewable Energy Investor Lacuna Sustainable Investments Brings Industry Expertise and Access to New Markets
CAMBRIDGE, Mass. and SAN ANSELMO, Calif., October 25, 2022-- SYSO Technologies, a market operator for renewable energy and battery storage developers and asset owners, and Lacuna Sustainable Investments today announced the completion of a $10 million Series A funding round led by Lacuna. SYSO will use the funds to enter new domestic and international markets and grow the company's software engineering, operations, and sales teams.
SYSO was founded in 2019 to provide asset management technology and services to renewable energy developers and independent power producers. Offerings include asset registration, commissioning, operation, optimization, reporting, and settlement. Anchored by a veteran team with nearly 1 GW under management and deep experience across all North American markets, SYSO operates today in ISO-NE, NYISO, PJM, MISO, ERCOT, CAISO, and several regulated markets.
Gardner MacDonald, co-founder of Global Power Partners who advised SYSO in the funding round, said "We were impressed with SYSO and pleased to assist in this transaction. SYSO's demonstrated success and rapid growth are attributable to the team's intelligence, practical market knowledge, and years of experience operating thousands of generating assets daily in global electricity markets. Their knowledge and experience is immensely helpful to developers and asset owners who are seeking to understand the value of energy storage in this rapidly evolving market."
"We invest in teams making an immediate impact developing and managing renewable assets creating meaningful change in the market today," said Lacuna Partner Patrick McConnell. "Every day we hear of new utility-scale solar and battery storage announcements, but very few are focusing on who will operate those assets to optimize value for the asset owners and the grid, which can be quite complicated. We believe the SYSO team to be the best operators in the industry and genuine experts in the field, with their involvement in each project/portfolio generating more revenue for their partners, thereby accelerating the proliferation of renewables on the grid."
"We are thrilled to have Lacuna on this journey with us," SYSO CEO Chris Gosline said. "There is a natural synergy here – Lacuna invests in many of our clients' projects which offers us access to a sizeable commercial opportunity. Their deep understanding of this ecosystem will be invaluable as we scale."
About SYSO Technologies
SYSO Technologies manages renewable energy and storage project operations for developers and independent power producers, maximizing their value per megawatt. https://sysotechnologies.com
About Lacuna Sustainable Investments
Lacuna Sustainable Investments is a Marin County, CA based alternative asset management firm that makes debt and equity investments in opportunities that meet the growing demand for renewable energy. The firm invests in opportunities where its capital is needed to achieve a defined goal and the Lacuna team's energy, experience, and expertise can decrease the risks associated therewith. Lacuna invests early, de-risks opportunities, and positions investments to create equity value for all stakeholders. https://lacunasustainable.com/