The round was led by Decarbonization Partners, a partnership between BlackRock and Temasek, with participation from MassMutual Ventures, both new investors. Existing investors Avista Development, Clean Energy Ventures, Energy Innovation Capital, Evergy Ventures, LG Technology Ventures, and Zoma Capital also participated.
This funding marks a pivotal milestone as ConnectDER unveils its next-generation Meter Socket Adapter (MSA), the ‘IslandDERTM’, designed to seamlessly integrate with the utility grid, and enable islanding of solar, battery storage, electric vehicles (EVs), and other distributed energy resources, providing whole-home backup and resiliency.
“We are excited to partner with ConnectDER, which has built an elegant solution that solves a major adoption pain point for customers, enabling and accelerating affordable home electrification in North America,” said Dr. Meghan Sharp, global head and chief investment officer of Decarbonization Partners. “We look forward to supporting the ConnectDER team as they continue executing on their growth journey.”
“With this latest Series D funding we’re poised to not only expand our existing markets but also our offerings by bringing a transformative solution for energy storage systems to the market,” said Ivo Steklac, CEO of ConnectDER. “Our forthcoming IslandDER enables homes to disconnect and reconnect from the grid enabling customers to harness stored energy from solar plus battery systems or EVs providing innovative backup power and resilience to market at an incredibly competitive cost point.”
This transformative approach is endorsed by Blue Raven Solar, a company committed to simplifying the path to renewable energy for homeowners. “At Blue Raven Solar, we prioritize operational excellence and an outstanding customer journey,” said Chris Lundell, interim Chief Executive Officer. “Leveraging innovative technologies and solar equipment like ConnectDER adapters allows us to streamline installation timelines, reduce complexity, and deliver reliable, affordable renewable energy solutions that enhance the homeowner experience from start to finish.”
In the US, 60 million homes lack the capacity for solar, EV-charging, or resilient energy solutions without costly equipment upgrades. ConnectDER’s products are installed in minutes and cost 10%, or less, of the cost of upgrading a home’s service panel and/or utility interconnect, thus removing a critical barrier to adoption and creating jobs through accelerated deployment and customer benefit realization.
By simplifying interconnections, ConnectDER’s products reduce training complexity and installation errors, and create opportunities for entry-level positions, driving domestic job growth. The corresponding accelerated deployment and cost reductions also expand the pool of financially viable projects thereby growing the industry.
ConnectDER plans to use this investment for market expansion, scaling manufacturing, and continued product innovation – areas that will reduce consumers’ energy costs, unlock domestic career paths, and enhance US competitiveness. With over 25,000 adapters in operation and approved for use in many states ConnectDER expects to be selling nationwide in the next few years and invites stakeholders to join its mission of delivering affordable and resilient energy solutions.
