terralayr funding news – Switzerland-based terralayr Secures €77 Million in Funding

Purpose of Fundraising

The company plans to use the funds to expedite the deployment of its battery storage asset base. It offering flexibility services with durations ranging from less than 15 minutes to 15 years, Terralayr enables customers to enjoy all the benefits of grid-scale battery storage without the burden of maintaining a physical asset.

AWS of grid storage

Similar to how Amazon Web Services (AWS) aggregates computing resources and offers fractional sales, transforming enterprise computing by enabling companies to run servers without owning hardware and easily scale them as necessary, Terralayr does the same for grid-scale energy storage assets. Owners of grid-scale batteries can sell their capacity to traders who aggregate it and utilize it in major electricity markets.

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Philipp Man, Founder and CEO of terralayr said, “In a net-zero world, energy storage is the key missing piece to drive the integration of all the renewable generation assets that are hitting the grid. Our positioning as a fully integrated storage aggregator enables us to unlock the fly-wheel from this future multi-trillion dollar asset class – delivering to customers such as data centres and utilities all the benefits of battery storage without the burden of the physical operation of assets.”

About terralayr

terralayr was founded by Philipp Man and Ludwig Wurlitzer in 2022. terralayr developes and operates battery storage assets with a focus on the German market. It offers “flexibility as a service” through its proprietary cloud-like software platform, targeting various players in the energy sector, such as power producers, traders, grid operators, and large power consumers such as data centres.