Sunverge Raises $15m for Distributed-Generation Storage

Sunverge Energy Inc., a U.S. provider of distributed-energy management systems, closed a $15 million funding round that it will use to expand the company.

The Series B equity financing was led by the Southern Cross Renewable Energy Fund and joined by venture capital units of Siemens AG and Total SA, Stockton, California-based Sunverge said today in a statement.

Sunverge builds systems that use local and cloud-based software to manage units composed of batteries and multiple energy inputs, according to the statement. The company has almost 300 units deployed across four continents.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Carlos Caminada, Will Wade

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