EQORE has closed a $1.7 million oversubscribed seed round to accelerate the deployment of its distributed battery storage systems for commercial and industrial buildings. The funding was raised from the Massachusetts Clean Energy Center (MassCEC), Henry Ford III of Ford Motor Company, Jonathan Kraft of The Kraft Group, and several veteran industry operators and entrepreneurs.
The company’s technology is designed to help facilities manage the financial and operational strain caused by rapidly rising electricity costs. Data center growth and broader electrification have pushed the aging power grid to its limits, driving wholesale electricity prices near key data center hubs up by 267 percent over the last five years. EQORE’s behind-the-meter battery systems store energy when demand is low and release it when prices spike, enabling significant savings and easing pressure on localized distribution networks that utility-scale batteries cannot directly address.
The new capital will allow EQORE to expand its team and accelerate installations at manufacturing and industrial facilities across the country. EQORE not only installs battery systems but also manages them through autonomous software that reshapes load profiles in real time by responding to market conditions and utility incentives. This approach reduces energy costs for customers while maintaining uninterrupted operations.
Investors in the round include Randolph Mann, Andrew Slifka, Mitch Coddington, Nicholas Betti and the Betti family, Luke Merrow, and Pointe Angels members Kent Helfrich and Kristin Welch. EQORE is also a graduate of MIT’s Sandbox and delta v accelerator programs and a member of the Harvard Climate Circle incubator. The company’s systems are already installed in New England and California, serving facilities such as Aalberts Surface Technologies, which is beginning to explore additional deployments following strong performance at its New Hampshire site.
KEY QUOTES:
“The system installed by EQORE at our New Hampshire facility has exceeded our expectations for performance and reporting. We are now looking at deploying additional systems at other facilities.”
Phil Hilger, Vice President of EHS at Aalberts Surface Technologies
“What excites us the most about EQORE’s technology is the dual impact: grid support and customer savings. Commercial and industrial buildings are prime hosts for battery storage, yet they’ve been vastly overlooked. EQORE is closing that gap. We’re excited to see this Massachusetts-based company create local jobs and make a nationwide impact.”
Susan Stewart, Head of Investments at MassCEC
“By uniting advanced controls with high-resolution metering and true end-to-end service, EQORE finally makes commercial behind-the-meter storage effortless and financially compelling for businesses.”
Randolph Mann, EQORE Investor
“We’re incredibly grateful to have the backing of leaders across energy, entrepreneurship, and manufacturing. This capital complements existing revenue, so it will go a long way in helping us scale.”
Valeriia Tyshchenko, CEO and Co-Founder of EQORE
