London-based Field, a developer, and operator of battery energy storage systems, announced on Tuesday, July 25, that it has raised £200M (approximately €233M) in funding from DIF Capital Partners through its DIF Infrastructure VII fund.
Field says it will use the funds to accelerate the development and buildout of its 4.5 GWh pipeline of grid-scale battery energy storage projects in the UK and Western Europe as it seeks to contribute to the renewable energy infrastructure needed to reach Net Zero.
Field: Battery storage developer and operator
Founded by Amit Gudka, Field develops, builds, and operates the renewable infrastructure to reach net zero, starting with battery storage.
The company’s battery energy storage systems allow energy generated during times of lower demand to be stored and released to the grid during times of higher demand.
The UK firm is already operating its first site in the UK, a 20 MWh battery project in Oldham, Greater Manchester.
It has another four sites totalling 210 MWh in or near construction in the UK – Newport in South Wales, Blackburn in Lancashire, Gerrards Cross in Buckinghamshire, and Auchteraw in the Scottish Highlands.
Amit Gudka, CEO of Field, says, “We will not be able to meet net-zero targets without significant investment in new energy infrastructure. Battery storage is a critical part of that infrastructure. The more we can build, the more effective mass usage of wind and solar power will become.
“Our partnership with DIF Capital Partners will enable Field to accelerate the buildout of battery storage in the UK and across Europe. And it will help us build, develop and operate the storage we need to create a more reliable, flexible and greener grid,” Gudka.
DIF Capital Partners
DIF Capital Partners is an independent infrastructure fund manager, with ~€16B of AUM.
DIF follows two strategies: its traditional DIF funds invest in lower-risk mid-sized infrastructure projects and companies in the energy transition (including renewables) and utilities sector, as well as PPPs and concessions.
The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition, and sustainable transportation sectors.
DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto.
Gijs Voskuyl, Partner and Deputy CEO at DIF, says, “We’re very excited to make a second investment in the battery storage sector which we see as a critical component for the UK energy industry to reach Net Zero and which we see as highly complementary to DIF’s extensive renewable energy portfolio. We are looking forward to working with the Field management team.”
Read the orginal article: https://siliconcanals.com/news/startups/dif-capital-partners-backs-fields-with-233m/
