RICHMOND, CALIFORNIA, UNITED STATES, May 23, 2023/EINPresswire.com/ -- New Sun Road P.B.C., a leading provider of sustainable energy solutions, announced the successful first close of its $4 million Series A funding round. The investment was led by Nelnet Inc. and Skyview Ventures, with participation from Microsoft's Climate Innovation Fund. The funding will be used to fuel the company's commercialization efforts and further strengthen its operations and AI applications to drive revenue growth and market development.

"We are thrilled to have closed our Series A funding round with the support of Nelnet Inc., Skyview Ventures, and Microsoft's Climate Innovation Fund," said Adrienne Pierce, CEO of New Sun Road. "This investment not only validates our vision and technology but also enables us to scale our operations, expand our customer base, and make a lasting contribution toward building a clean energy future."

New Sun Road's mission is to accelerate the global transition to clean energy by delivering sustainable and cost-effective electricity to rural and underserved communities worldwide. The company’s innovative technology and proprietary algorithms optimize the performance and efficiency of solar energy systems, ensuring maximum output and minimal downtime. By integrating advanced analytics and remote monitoring capabilities, New Sun Road P.B.C. provides real-time insights and predictive maintenance solutions to manage fleets of systems.

With the Series A funding, New Sun Road will accelerate its go-to-market and strengthen its presence in key segments such as utility power, telecommunications and microgrid deployment. The company’s technology remotely operates over 900 stand-alone power systems globally improving reliability, decreasing costs, increasing renewable energy access and reducing wildfire risk.

“There's an urgent need for meaningful, measurable climate solutions serving all markets,” said Brandon Middaugh, Senior Director, Climate Innovation Fund at Microsoft. “New Sun Road's technology provides clean power for connectivity and productivity and builds climate equity by ensuring underserved communities benefit from emerging climate solutions."

"Having been investors in New Sun Road since early 2018, we believe the company's optimized microgrid operating and management systems have the potential to accelerate the deployment of Distributed Energy Resources (DERs)," said Andy Karetsky, President at Skyview Ventures. "Their focus on innovation, combined with their commitment to sustainability and energy poverty, aligns perfectly with our investment philosophy. We are excited to support their growth and contribute to their mission of providing clean, reliable energy to underserved communities."

New Sun Road plans to invest in enhancing its operational infrastructure and establishing strategic partnerships to further drive adoption of its solutions, enabling other applications such as optimizing power management for EV charging stations, providing aggregated grid services, and using load management to maximize renewable energy usage.

“With New Sun Road’s technology enhancing the efficiency and reliability of microgrids – and making clean, renewable energy available to underserved populations – it fits well with our venture capital investment thesis and aligns with Nelnet’s focus on making investments that have impactful outcomes,” said Chad Riley, Director of Innovation and Strategic Partnerships at Nelnet.

New Sun Road's Series A funding round marks a significant milestone in the company's growth trajectory. With the support of Nelnet Inc., Skyview Ventures, and Microsoft's Climate Innovation Fund, the company is poised to expand its market reach and accelerate the global transition to clean energy.


About New Sun Road P.B.C.
New Sun Road P.B.C. is a leading provider of sustainable energy solutions, specializing in the development and deployment of solar power infrastructure. The company's innovative technology optimizes the performance and reliability of distributed energy systems, delivering clean and cost-effective electricity to underserved communities worldwide. By leveraging advanced analytics, AI and remote operating capabilities, New Sun Road P.B.C. is driving the global transition to clean energy. Formed in 2014 as a for-profit public benefit company (P.B.C.) and guided by principles of environmental sustainability and economic development, New Sun Road’s technology is deployed in more than 20 countries.
To learn more, visit www.newsunroad.com.

About Skyview Ventures:
Skyview Ventures transacts, advises, and invests in renewable energy and carbon reduction markets and companies across North America and operates businesses in environment commodities, solar and battery storage development, and electric vehicle infrastructure. Founded in 2008, the company has successfully completed over $2B+ in structured environmental attribute financing, 100 MW of solar development and 500+ electric vehicle charging ports. Skyview Ventures has invested in over 20 technology companies providing solutions to the energy decarbonization transformation, and is uniquely positioned to identify, invest in, and grow the companies that will lead the energy decarbonization transformation.
To learn more, visit www.skyviewventures.com.

About Nelnet and Nelnet Renewable Energy:
Nelnet (NYSE: NNI) is a publicly traded diversified financial services and technology company focused on offering educational services, technology solutions, professional services, telecommunications, and asset management. Nelnet has approximately $20 billion in assets and services over $529 billion in loan assets – and made its first solar tax equity investment in 2018. Nelnet has since grown into a leading tax equity investor in utility-scale and distributed generation solar projects, with $292 million funded in solar tax equity projects and $761 million committed from syndication partners using our co-investment platform. Rooted in innovation, Nelnet is uniquely positioned to bring enterprise-level resources in a timely manner that startups and early ventures require. Nelnet’s expert venture capital investment team uses a synergistic approach to further Nelnet’s commitment to advance technologies, processes, and companies focused on climate, resilience, and sustainability.
For more information, visit NelnetInc.com/renewable-energy-innovation-partnerships.

Robin Milshtein
New Sun Road
+1 415-996-7209
rmilshtein@newsunroad.com
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