Toronto-based Peak Power has raised follow-on financing from BDC Capital and Canadian Shield Capital, the investment arm of Hatch. No financial terms were disclosed. Peak Power, which is also backed by Export Development Canada and Sensata Ventures, is a provider of AI-enabled software that enables intelligent energy in smart cities.
TORONTO–(BUSINESS WIRE)–Toronto-based Peak Power (Peak) announced today that it has received further funding from BDC Capital, the investment arm of BDC and Canadian Shield Capital, the investment arm of Hatch, a global engineering consultancy. BDC Capital and Canadian Shield Capital join Export Development Canada (EDC) and Sensata Ventures as investors to support Peak’s global expansion.
The announcement represents the second close in Peak’s financing round aimed at funding rapid expansion of Peak’s Synergy™ platform, which is already deployed in over 15 million square feet of commercial and industrial real-estate in Ontario, New York, and California. Peak’s AI-powered Synergy™ platform optimizes the operation of buildings, and distributed energy resources (DERs) like batteries and electric vehicle chargers for some of North America’s largest real-estate and energy players.
“Our differentiated capabilities are keeping us very busy, on both the supply and demand sides of the energy market, across the full spectrum of climate change mitigation activities,” said Robert Francki, Global Managing Director, Energy at Hatch. “This is a key investment theme for both Hatch and our clients, and we believe Peak Power has the team and technology to help commercial buildings reduce their power consumption and emissions, which we believe is an important market.”
Andrew W. Dunn, Managing Partner at Canadian Shield Capital, remarked, “We see more and more organizations identifying, prioritizing, and addressing energy and greenhouse gas reduction opportunities, and we believe Peak Power is a leading player in this space in North America.”
“Peak Power has established itself as a leading solutions provider at the nexus of smart buildings, clean energy, and electric mobility with several highly successful deployments of their building optimization, energy storage and vehicle-grid integration products,” said Zoltan Tompa, Director of BDC’s Cleantech Practice. “BDC is proud to partner with Peak in helping them to accelerate their market and environmental impact.”
Derek Lim Soo, CEO and Co-Founder of Peak Power, said of the investments, “We are excited to welcome the support of Hatch and BDC. We look forward to the prospect of working with Hatch in serving our customers and expanding our platform, combined with BDCs depth of experience and history in helping Canada’s entrepreneurial ventures grow. With our expanding network of strategic partners and investors, Peak is ready for the next phase of our global growth.”
About Peak Power
Founded in 2015, Peak Power develops AI-powered software to enable intelligent energy in smart cities. They do so by optimizing synthetic, stationary, and mobile batteries to act as grid resources, unlocking revenues for customers, reducing their operating costs, and decreasing their environmental footprint.
Hatch is a global multidisciplinary management, engineering, and development consultancy. Whatever our clients envision, our teams can deliver. With over six decades of business and technical experience in the mining, energy, and infrastructure sectors, we understand that your challenges are changing rapidly. Our solutions are innovative, timely, and more efficient. We draw upon 9,000 staff with experience in over 150 countries to challenge the status quo, creating positive change for our clients, employees, and the communities we serve.
About Canadian Shield Capital
Canadian Shield Capital is a long-term private equity and growth capital investor focused on identifying and leveraging long-term demographic, social, and macroeconomic trends. Canadian Shield Capital serves as Hatch’s investment arm and favours businesses with strong, capable, collaborative leadership where there is the potential to draw upon and benefit from Hatch’s extensive industry expertise and strong client relationships. We support our partners with capital and expertise to build networks, improve processes, implement new technologies, refinance, and adapt to changing market dynamics.
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage.