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.

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