A pioneering clean power company founded in 2021 by Tesla alum Ryan Hanley, has officially emerged from stealth mode. Backed by $33 million in venture funding from top-tier institutional investors including Bill Gates’s Breakthrough Energy Ventures, Global Founders Capital, NJP Ventures, and a prominent university endowment, Equilibrium Energy is on a mission to accelerate society’s transition to clean energy and combat climate change.
At the heart of Equilibrium’s ambitious vision is the creation of a Climate Generation power company, dedicated to addressing the challenges of managing an increasingly volatile power grid while promoting renewable energy adoption. The company brings together deep energy expertise, cutting-edge artificial intelligence (AI)-centric technology, and an innovation-driven culture to build a sustainable energy ecosystem.
One of Equilibrium Energy’s initial endeavors is supporting the deployment of grid-scale batteries that help balance the power grid amid the exponential growth of renewable energy sources, electric vehicles, heat pumps, and extreme weather events. The company offers tolling agreements for grid-scale battery developers through a partnership with Hatch Renewables, providing essential contractual offtake crucial for gaining project financing. This financing model, similar to the successful power purchase agreements (PPAs) used for wind and solar projects, is expected to pave the way for widespread grid-scale battery deployments and, consequently, increase the adoption of renewables.
Recently, Equilibrium Energy and Hatch Renewables made headlines by announcing the largest battery tolling agreement in Texas, involving a 100 MW battery owned by Jupiter Power, a leading battery developer. Equilibrium operates the West Texas battery using its state-of-the-art power volatility-centric technology platform, which leverages cutting-edge AI and power grid fundamentals.
“The climate crisis demands all that we can give. Equilibrium is building a next-generation power company to give just that. We have assembled a world-class team that is building a company that the Climate Generation can be proud of, one that puts a serious dent in global carbon emissions,” said Ryan Hanley, Founder and CEO of Equilibrium Energy.
Carmichael Roberts, from Breakthrough Energy Ventures (BEV), expressed his confidence in Equilibrium’s mission: “Decarbonizing the grid is central to BEV’s mission. We are convinced that Ryan and his team are incredibly well positioned to solve some of the grid’s biggest challenges.”
Equilibrium Energy’s immediate focus is on supporting its battery developer partners in financing their fleets of grid-scale battery deployments in Texas.
