29 Jun 2020
Orison Inc., a U.S.-based energy storage company, announced it had closed out its $8.5 million seed round. Investors include Origin Energy, one of Australia's leading energy companies with more than 4 million electricity and gas customers, which has made a strategic investment in Orison to help further develop its home energy storage solutions.
Orison's consumer-scale modular batteries are designed to make energy storage accessible and affordable to all energy customers, including renters in apartments and multi-family dwellings, while empowering customers, improving grid resilience and accelerating a smarter energy future.
After several years in development, the Orison home battery system is in the final stages of certification testing to be approved as the first and only energy storage appliance in the industry - allowing any energy consumer to self-install the system without utility approval or permits.
"Origin's strategy of identifying, investing in and partnering with clean technology companies is not only transformative in getting us closer to a renewable grid but also leads the way for utilities to empower their customers with local services that best support each individual's needs," said Eric Clifton, founder and CEO of Orison. "We truly consider Origin an active and integral part of our team."
Orison is using its seed funds towards accelerating product development. Origin Energy plans to test and potentially deploy the energy storage solution later this year in the Australian market.
"While an obvious benefit is the ability to provide back-up power during blackouts, where we are seeing the greatest potential of Orison for customers in a smart energy world would be the ability to shift their load and avoid grid consumption during peak times," said Origin Executive General Manager, Future Energy, Tony Lucas. "Origin looks forward to working with Orison to further develop home energy storage solutions to empower customers to manage energy use in a smarter and more efficient way."
Orison was a top ten finalist in the global Free Electrons energy start-up accelerator program when it started discussions with Origin in 2018.
Orison | https://orison.com/