RIVE Private Investment invests in terralayr AG to build a leading player in battery storage

Paris, October 2, 2024. RIVE Private Investment (RIVE), a European investment firm with over €850 million of assets under management in the energy and transportation sectors, has invested in terralayr, a company specializing in energy storage in Germany. This investment illustrates the strategic dimension of battery storage in a market where more than 50% of the electricity now comes from renewables.

terralayr has already secured development agreements for over 5GW both through an in-house greenfield development team and through partners, and has acquired a first asset in May 2023, trlyr1, operating since then. RIVE’s investment will accelerate the deployment of terralayr’s battery storage asset base.

Established in 2022, terralayr is a developer, owner-operator and aggregator of battery storage assets in Germany, introducing an innovative approach to the market through its asset virtualization platform. Having identified a gap between the full economic value of battery storage and its conventional business model, terralayr offers “flexibility as a service” through its proprietary cloud-like software platform. Targeting players such as power producers, traders, grid operators and large power consumers such as data centers, terralayr offers flexibility services with durations from less than 15 minutes up to 15 years, allowing customers to gain all the benefits of grid-scale battery storage without the overhead of a physical asset. For grid-scale battery owners, this offers a new way to optimize capacity, generating higher and more stable returns.

This unique offering is backed by terralayr’s strong management team with long experience in the energy and renewables sector and has enabled terralayr to raise capital from renowned VC-funds to support its early stages – Creandum, Earlybird, Norrsken and Picus – all of which have invested again in this new fundraising round.

The investment made through RIVE Infrastructure Impact Fund (RIIF) is in line with RIVE’s strategy to invest equity to support European entrepreneurs in the energy transition with the aim to build integrated, leading players in their sectors and accelerate the deployment of green energy infrastructure.

Pierre du Passage, Partner in charge of energy transition at RIVE:

“Battery storage stands out as a game-changer in mitigating the risks associated with renewable energy intermittency. With strong penetration of renewables leading to grid instability and negative prices, we had identified Germany as a strong candidate for the deployment of storage capacity. terralayr is ideally positioned in this market, combining its proven development capability and virtual aggregation expertise. We are proud to be a fast-mover in this field and look forward to collaborating with terralayr’s management team and funding their infrastructure roll-out.”

Philipp Man, Founder and CEO of terralayr:

“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 centers and utilities all the benefits of battery storage without the burden of the physical operation of assets. RIVE’s investment underscores our differentiated market positioning and will help us accelerate our roll out in Germany further.”

ABOUT RIVE PRIVATE INVESTMENT

RIVE Private Investment is an independent European investment firm specializing in essential assets in the transport and energy transition sectors. Founded in 2013, RIVE currently manages over €850 million and has completed more than 100 transactions. The RIVE team consists of 26 employees based in Paris, Luxembourg, and Geneva. Through its Energy Transition business line, RIVE invests across the entire energy value chain: renewable energies, green gas, sustainable thermal energy, energy efficiency, energy storage, and mobility infrastructure. RIVE’s positioning reflects a concrete commitment to mitigating climate change and a desire to have a positive impact on local communities.

ABOUT TERRALAYR

terralayr is a fully integrated energy flexibility provider. terralayr addresses the massive global need for energy storage by aggregating own as well as third party battery storage assets. A cloud-like software platform makes energy flexibility accessible „as-a-service” to many customer groups, including power producers, grid operators and large consumers of power such as data centers. terralayr develops and operates a portfolio of own battery storage assets, with currently one asset operational, several assets in construction and a total development pipeline of over 5GW in Germany. The company’s leadership team is composed of industry experts from companies like Limejump, RWE, Fluence, Next Kraftwerke and Pexapark.

Press contacts :

Bénédicte Debusschere – b.debusschere@bcadvisory.fr – +33 6 48 56 70 71
Victoria Wojtczak – v.wojtczak@bcadvisory.fr – +33 6 79 75 01 66