# Gravity Renewables

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/gravity-renewables

- Industry: Renewable Energy
- Headquarters: Boulder, US
- Website: www.gravityrenewables.com
- Latest round: Series C (Jan 21, 2014)
- Investors on record: 3

## About

Gravity Renewables focuses on the redevelopment of underutilized hydropower assets, aiming to enhance energy efficiency and provide sustainable power solutions.Gravity Renewables was founded in Boulder, US in 2010. The company specializes in improving the operational efficiency of hydropower plants. It has completed a total of 3 deals, with the most recent deal occurring on June 11, 2014, when it raised USD 5.53 mn in financing. The CEO of the company is Ted Rose.Gravity Renewables specializes in the redevelopment of underutilized hydropower assets, primarily focusing on run-of-river hydropower plants. The company enhances the operational efficiency of these facilities to provide reliable, clean energy, thereby addressing the growing demand for sustainable power solutions. Its portfolio includes a mix of 21 legacy hydropower plants and newly acquired assets, including 15 hydroelectric plants and one solar project. Their services target rural communities and organizations in the Northeastern United States, supplying affordable energy while preserving the historical significance of local dams.Gravity Renewables has a revenue model based on long-term power purchase agreements (PPAs) with various clients, including municipalities and utility providers. These contracts establish fixed pricing for energy supplied over an extended period, contributing to stable revenue streams. The acquisition of Gravity Renewables significantly boosts its power generation capacity, enhancing its position in the renewable energy sector. With substantial grants awarded from the Department of Energy, the company can enhance its service offerings while maintaining competitive pricing in the market.Gravity Renewables plans to utilize the USD 5.53 mn raised in June 2014 to support its expansion in the renewable energy sector. The company is focusing on developing new renewable energy projects to increase its capacity and enhance its service offerings. Future initiatives involve exploring opportunities in additional markets, particularly in the Northeastern United States, to further supply clean energy solutions. Specific timelines for upcoming product launches and geographic expansion will be announced as developments progress.

## Funding rounds

- Series C, Jan 21, 2014 — Lorem Partners, Canoe Financial
- Series B, Jun 18, 2013 — Summit Energy Ventures, Lorem Partners, Canoe Financial

## Investors

- Summit Energy Ventures (https://capitalatlas.ai/funds/summit-energy-ventures) — Series B
- Lorem Partners — Series B, Series C
- Canoe Financial (https://capitalatlas.ai/funds/canoe-financial) — Series B, Series C