Apricus Generation smashes $100m funding goal—what’s next for the solar upstart?

Apricus Generation, a US-based burgeoning holding company committed to developing a national platform for distributed solar and battery storage, has successfully closed its Series A funding round, drawing in substantial backing from Blue Marlin Partners and Current Yield with Participation (CYwP) Fund. The latest capital influx has pushed Apricus Generation beyond its initial target, as the company surpasses the $100 million equity capital goal, highlighting robust investor interest and confidence in its business model.

The Apricus platform is designed to empower both consumers and businesses to actively participate in the energy transition. By providing developers of solar and battery storage solutions with critical management expertise and funding, Apricus aims to accelerate the deployment of renewable energy projects across the United States.

Peter Kirsch, Founder and Managing Partner of Blue Marlin Partners, underscored the strategic appeal of Apricus Generation, stating, “We have been exploring the solar and battery energy distributed generation market for some time. With Apricus, led by seasoned industry professionals Gautam Chandra and Ravi Thuraisingham, we believe we have found an ideal combination of innovation, experienced leadership with a history of successful exits, and market timing.”

Ethan Assal, Founder and Managing Partner of CYwP Fund, echoed this sentiment by emphasising their continued faith in the leadership team at Apricus. “CYwP Fund IV recently benefited from a highly successful exit involving a prior venture of one of the Apricus founders. We are thrilled that CYwP Fund VII and CYWP Solar Energy I have this renewed opportunity to invest alongside these proven leaders in the dynamic solar and battery storage sector.”

Gautam Chandra, Executive Chairman and Co-Founder of Apricus Generation, expressed gratitude for the investor backing, remarking, “We are delighted to have Blue Marlin Partners and CYwP Fund as the lead investors in our Series A round. Our past collaboration with CYwP Fund has been extremely fruitful, and we deeply value their continued trust and partnership. We also welcome Blue Marlin’s entry into this space with enthusiasm and optimism.”

The capital secured through this funding round will be pivotal in advancing Apricus Generation’s strategic objectives. It will enable the company to accelerate its business plan, which includes expanding the operations of Nexus Renewables, Inc., a Toronto-based developer of solar and energy storage projects in the United States. Additionally, the funding will support further acquisitions and the development of new solar and battery storage systems, positioning Apricus as a leader in the renewable energy space.

Apricus Generation is leveraging its founders’ extensive experience in clean energy development and investment to create a scalable platform that supports the energy transition. The company’s vision is to facilitate a shift towards renewable energy by providing the necessary capital and management support to developers, helping them move projects from the planning stages to active generation.