Friday 28 July 2023

Bulb Co-Founder’s battery venture secures £200m

Bulb Co-Founder’s battery venture secures £200m

Bulb Energy Co-Founder Amit Gudka's venture, Field, has raised £200 million in investment from DIF Capital Partners.

The funding will be used to accelerate the development of battery energy storage projects in the UK and Western Europe.

London-headquartered Field already operates a 20MWh battery project in Greater Manchester and has four additional sites totalling 210MWh in the UK under construction.

Amit Gudka, Field Chief Executive Officer said: "We will not be able to meet net zero targets without significant investment in new energy infrastructure. Battery storage is a critical part of that infrastructure. The more we can build, the more effective mass-usage of wind and solar power will become."

Bulb Energy was bailed out by the government at an estimated cost of £6.5 billion before being acquired by Octopus.

Written by

Bruna Pinhoni

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