Solstice Power Technologies LLC.

Solstice Power Technologies, Inc. provides community solar solutions that allow customers to access solar energy without the need for rooftop installations, thus promoting renewable energy adoption. Founded in 2014 in Cambridge, US, Solstice Power Technologies, Inc. specializes in community solar solutions., a portfolio company of Arborview Capital and Nuveen, LLC, acquired Solstice Power Technologies, Inc. from MyPower Corp. The company was co-founded by Sandhya Murali, Steph Speirs, and Steve Moilanen, with Steph Speirs currently serving as CEO. Solstice offers community solar solutions that enable individuals and businesses to benefit from solar energy without the need for rooftop installations or upfront costs. Their core product allows customers to reserve a share of panels at local solar gardens, generating credits on their electricity bills that effectively lower energy costs. This model caters to a diverse customer base, including residential households, landlords, and small businesses across multiple states such as New York, Massachusetts, Illinois, and New Mexico. The company focuses on promoting equitable access to renewable energy, particularly targeting communities that may not have traditional solar options due to financial or structural barriers. By connecting users to local solar gardens, Solstice not only facilitates cost savings but also contributes to a cleaner and more resilient energy grid. Solstice generates revenue primarily through subscription services for its community solar programs. Customers enroll to receive monthly credits on their electric bills based on the solar energy produced by the gardens they support. The transactions typically involve a straightforward subscription model, where clients commit to a specific solar garden based on geographic eligibility, with the understanding that they will receive ongoing savings. The company may also implement promotional offers, such as enrollment bonuses, which further incentivize new subscribers. As customers engage with Solstice's community solar offerings, they benefit from a structured pricing model that ensures they pay no additional fees beyond their energy savings, reinforcing the affordability of solar energy solutions.

1. Seed

   May 7, 2020

   Amount

   $1M

   Investors

   Locked

2. Seed

   Jun 25, 2019

   Amount

   Undisclosed

   Investors

   Locked

3. Seed

   Jan 23, 2019

   Amount

   Undisclosed

   Investors

   Locked

4. Seed

   Dec 20, 2018

   Amount

   Undisclosed

   Investors

   Locked

5. Seed

   Feb 6, 2017

   Amount

   Undisclosed

   Investors

   Locked

6. Seed

   Jun 16, 2016

   Amount

   $0.6M

   Investors

   Locked