Nostromo Energy Raises $305.5 Million to Revolutionize BTM Energy Storage for Commercial & Industrial Buildings

Nostromo Energy Limited is excited to announce that it has successfully raised $305.5 million in its latest funding round, a significant milestone that underscores the potential of its innovative energy storage solutions. Nostromo specializes in delivering large-scale, behind-the-meter (BTM) energy storage systems designed for commercial and industrial (C&I) buildings. Their unique approach not only helps businesses realize substantial energy cost savings but also contributes significantly to greenhouse gas reduction, supporting the global push for grid modernization and decarbonization. With buildings consuming an estimated 74% of all electricity, Nostromo has identified BTM energy storage as a key opportunity for GHG mitigation. Despite this, only 1% of new energy storage systems are currently installed in C&I buildings, primarily due to safety concerns with traditional lithium batteries. Thanks to Nostromo's advance in energy technology, the IceBrick® energy storage solution ensures safe, efficient, and reliable operation by charging during off-peak hours or utilizing surplus renewable energy. This allows for a controlled release of energy that powers air conditioning, which alone accounts for nearly half of electricity use in C&I facilities. With this new influx of capital, Nostromo aims to expand its footprint beyond its current installations, like the 1,300 kWh system recently deployed at prestigious hotels in Beverly Hills, and to enhance its cloud-based management tools for optimizing revenue streams in virtual power plant operations. This funding will further accelerate the adoption of their groundbreaking technology, positioning Nostromo as a leader in the transition to sustainable energy solutions.