EQORE Raises $1.7 Million in Seed Funding to Address Rising Electricity Costs Through Distributed Battery Storage
EQORE, an emerging leader in distributed battery energy storage, announced that it has secured $1.7 million in an oversubscribed seed funding round, marking a significant milestone for the Massachusetts-based company. The new capital injection comes at a critical moment for the U.S. energy landscape, as industrial and commercial facilities face some of the sharpest electricity cost increases in decades. With support from the Massachusetts Clean Energy Center (MassCEC) and a group of prominent industry operators and investors, EQORE is positioning itself to accelerate the adoption of on-site battery storage as a practical and powerful tool to combat soaring power prices.
In recent years, the United States has witnessed rapid growth in electricity demand largely driven by data center expansion, accelerated electrification of industry and transportation, and the integration of new clean energy systems. This surge in consumption has placed unprecedented strain on an aging grid that was not designed for such rapid load increases. Nowhere is this pressure felt more acutely than around major data center hubs, where wholesale electricity prices have skyrocketed. In fact, electricity costs in several high-demand regions have risen by an astonishing 267% over the last five years. These cost increases ripple across the broader industrial sector, affecting manufacturers, logistics hubs, and large commercial buildings that require reliable and affordable power to keep operations competitive.
Battery energy storage has emerged as one of the most effective solutions to this growing challenge. By storing power when demand is low and releasing it during peak periods, batteries help stabilize electricity costs, reduce peak charges, and improve overall grid flexibility. Utility-scale storage has played a crucial role in supporting the transmission system, yet it often falls short in addressing localized constraints. Much of the grid’s stress originates not at the transmission level but within distribution networks — the lines that directly feed factories, warehouses, and commercial buildings. EQORE’s approach focuses on this overlooked layer by placing storage directly at customer sites, where it can deliver both grid services and substantial cost savings to end users.
MassCEC, one of EQORE’s early backers, sees this dual impact as central to the company’s value proposition. “What excites us the most about EQORE’s technology is the dual impact: grid support and customer savings,” said Susan Stewart, Head of Investments at MassCEC. “Commercial and industrial buildings are prime hosts for battery storage, yet they’ve been vastly overlooked. EQORE is closing that gap. We’re excited to see this Massachusetts-based company create local jobs and make a nationwide impact.” Stewart’s comments underscore a broader trend: while residential and utility-scale storage have grown rapidly, deployment in the industrial building sector still lags despite its significant potential.
Investors well versed in the energy storage sector also highlight EQORE’s differentiated offering. Randolph Mann, an experienced founder in large-scale storage development, emphasized the company’s combination of advanced engineering and ease of deployment. “By uniting advanced controls with high-resolution metering and true end-to-end service, EQORE finally makes commercial behind-the-meter storage effortless and financially compelling for businesses,” Mann said. As electricity price volatility increases, many industrial operators are searching for solutions that deliver savings without disrupting facility operations. EQORE’s model — a fully managed system where the company installs, monitors, and operates the batteries — is designed precisely for that need.
The seed round also attracted support from several prominent strategic investors. These include industry operators Andrew Slifka, Mitch Coddington, and the Betti family led by Nicholas Betti; entrepreneur Luke Merrow; and, through Pointe Angels, technology executives Kent Helfrich and Kristin Welch. EQORE’s credibility within the innovation ecosystem is further strengthened by its participation in the MIT Sandbox and delta v accelerator programs, as well as its membership in the Harvard Climate Circle incubator. This combination of academic, entrepreneurial, and industrial backing reflects broad confidence in the company’s approach and long-term value.
Valeriia Tyshchenko, EQORE’s CEO and co-founder, expressed deep appreciation for the new investors and the momentum they bring. “We’re incredibly grateful to have the backing of leaders across energy, entrepreneurship, and manufacturing,” said Tyshchenko, a third-generation engineer from Ukraine. “This capital complements existing revenue, so it will go a long way in helping us scale.” With a mission-driven leadership team and a rapidly expanding market opportunity, EQORE plans to use the funding to grow its engineering, software, and operations teams while accelerating deployments across manufacturing and industrial facilities.
Central to EQORE’s value is not only the installation of batteries but also the ongoing operation of the equipment through autonomous software. The company’s platform continuously monitors energy prices, utility tariffs, and facility load patterns, making real-time decisions about when to charge or discharge the battery. This intelligent load-shifting capability helps industrial facilities reduce peak demand charges — often one of the largest components of commercial electricity bills — without requiring any changes to production schedules or equipment. For manufacturers with energy-intensive processes, this advantage can translate into significant cost savings and improved operational resilience.
One of EQORE’s customers, Aalberts Surface Technologies, is already seeing measurable benefits. Aalberts, a global provider of mission-critical heat and surface treatments with facilities across the United States, partnered with EQORE to deploy a battery storage system at its New Hampshire site. “The system installed by EQORE at our New Hampshire facility has exceeded our expectations for performance and reporting,” said Phil Hilger, Vice President of EHS at Aalberts Surface Technologies. “We are now looking at deploying additional systems at other facilities.” Testimonials like this demonstrate how distributed storage can enhance competitiveness for industrial firms facing volatile energy markets.
With the new seed funding completed, EQORE is well-positioned to capture growing demand for cost-reducing, grid-supportive energy solutions. As data centers continue to expand, electrification accelerates, and the grid becomes more constrained, industrial and commercial businesses are increasingly seeking on-site storage to manage their energy costs and reduce exposure to market volatility. EQORE’s combination of advanced controls, high-resolution metering, and full-service operation is tailored to meet this urgent need.
As the energy landscape evolves, companies like EQORE are playing an integral role in shaping a more resilient, efficient, and economically sustainable future for industrial power users. By enabling commercial facilities to participate in the energy transition while protecting their bottom line, EQORE’s distributed storage model is poised to become an essential component of tomorrow’s electrical infrastructure.
Source Link: https://www.businesswire.com/
