C&I storage gets $25 million boost from JLM Energy
The company says it will use the money to provide customers with the financing necessary to use its Phazr energy-storage platform starting in the third quarter of next year.
On the heels of a GTM Research report suggesting residential energy storage will become the norm in five years, JLM Energy announced it has received $25 million to jumpstart deployment of its module-level battery pack in the commercial and industrial (C&I) market.
The company says it will use the money to provide customers with the financing necessary to use its Phazr energy-storage platform starting in the third quarter of next year.
“This funding will enable our customers to immediately realize savings and achieve control over monthly utility expenses,” said Ardes Johnson, JLM’s vice president of strategic initiatives said.
Phazr is a module-level battery pack, which differentiates it from other C&I storage solutions. By taking this module level approach, the battery pack advances DC coupled storage applications by minimizing cost of design, installation, as well as operations and maintenance.
