# NRStor

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nrstor

- Industry: Energy Storage & Batteries
- Headquarters: Toronto, Canada
- Website: www.nrstor.com
- Latest round: Seed (Jun 1, 2012)
- Investors on record: 2

## About

NRStor Inc. is a Canadian company focused on developing and operating advanced energy storage solutions to improve the reliability and sustainability of electricity systems across various applications.Founded in 2012 in Toronto, Canada, NRStor Inc. specializes in innovative energy storage technologies. The company has not undergone any significant pivots or changes in operations. Bill Faasen serves as the CEO. NRStor has completed 3 deals, with the most recent funding round occurring on January 18, 2019, when it raised CAD 11.00 mn led by LIUNA - Washington, D.C. This total raised amount matches the latest round of funding, which involved new investor Fengate Capital Management and returning investor Lake Bridge Capital.NRStor Inc. specializes in developing and operating innovative energy storage solutions that enhance the reliability and sustainability of electricity systems across diverse applications. Its core product offerings include large-scale battery storage projects, such as the Oneida Energy Storage Project, one of the largest clean energy storage facilities globally, and a range of microgrid solutions aimed at reducing diesel fuel dependence in remote communities. Additionally, NRStor provides emissions-free, behind-the-meter energy storage solutions for commercial and industrial clients, as well as residential customers through the Tesla Powerwall home battery. These products and services primarily target markets in Canada and are designed to address challenges related to energy cost savings, environmental sustainability, and energy independence. The company's customer base includes utilities, remote communities, industrial businesses, and residential users seeking efficient energy management solutions.NRStor generates revenue through various business models, including partnerships and direct sales of energy storage solutions to utilities, commercial clients, and residential customers. The company's flagship products, such as the Tesla Powerwall and its large-scale energy storage projects, typically involve structured agreements where clients pay for the installation and ongoing maintenance of the systems. These transactions may be structured as one-time purchases or subscription-based models for service and support, catering to the specific needs of the clients. Revenue is also derived from collaborative projects that align with governmental initiatives aiming to enhance the electricity grid's reliability and integrate renewable energy sources. NRStor’s strategic partnerships further bolster its revenue potential by enabling shared investment in large-scale energy storage solutions, thereby expanding its market reach and operational capabilities.Looking ahead, NRStor Inc. is focused on designing and launching new energy storage products, with plans for upcoming innovations that cater to evolving market needs. The company aims to expand its presence in international markets, particularly targeting regions where energy reliability and sustainability are critical. The recent funding of CAD 11.00 mn will be utilized to support these initiatives, enhancing product development and market expansion efforts. Additionally, the company seeks to leverage its recent partnerships to boost its capabilities and reach within the energy sector.

## Funding rounds

- Seed, Jun 1, 2012 — Northwater Capital Management, Lake Bridge Capital

## Investors

- Northwater Capital Management (https://capitalatlas.ai/funds/northwater-capital-management) — Seed
- Lake Bridge Capital (https://capitalatlas.ai/funds/lake-bridge-capital) — Seed