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July 25, 2023

NineDot Energy Secures Major Funding for Sustainable Battery Storage Expansion

Investment will drive acquisition, development, and operation of battery storage sites across the New York City area

NineDot Energy embarks on a transformative journey with over $150 million in funding. With a strong commitment to cleaner energy sources, NineDot aims to install 400 megawatts of capacity by 2026, bolstering New York's green energy transition.

NineDot's pioneering battery storage sites align seamlessly with New York's ambitious Climate Leadership and Community Protection Act (CLCPA) goal to develop 3000 megawatts of storage by 2030. The initial facility will cover 14 sites, with projections to expand to 40 projects, each generating up to 5 megawatts of clean energy. The significant environmental contribution is evident, with a single 5-megawatt battery potentially reducing community emissions by nearly 420 tons of CO2e annually.

NineDot Energy's visionary leadership, led by CEO and Co-founder David Arfin, finds unwavering support from NY Green Bank. This strategic partnership empowers innovation, positively impacting both the environment and society. With a firm focus on climate change, NineDot and NY Green Bank collaborate seamlessly to create urban energy solutions, elevating sustainability standards in the metropolitan landscape.

NineDot Energy's funding milestone heralds a new era of sustainable battery storage expansion in New York City. With a clear vision and steadfast support from NY Green Bank, NineDot leads the charge in combating climate change while powering the future with clean energy solutions. As the world embraces a greener tomorrow, NineDot's commitment to sustainable energy will resonate far beyond the city, positively impacting the environment and society.

Josefina Dipaolo
Josefina Dipaolo
Content Writer at TechNews180
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