Deals
German Battery Firm Valued at $400 Million in OTPP-Led Funding
- Morgan Stanley climate fund also among investors in Instagrid
- Company aims to expand portable battery sales to North America
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German portable-battery maker Instagrid raised $95 million from investors including the Ontario Teachers’ Pension Plan and a Morgan Stanley fund in a funding round that values the company at more than $400 million, according to people familiar with the matter.
Instagrid plans to use the proceeds to expand to North America, according to a statement Tuesday. The Stuttgart-based company sells or rents its portable battery systems for use in industries such as construction and film production, saying they’re a clean alternative to fossil fuel-powered generators.