FranklinWH secures $25m to revolutionize whole-home energy management
FranklinWH Energy Storage Inc., a front-runner in whole-home energy management, announced a pivotal $25 million in Series B funding led by Particle Future. This substantial investment aims to accelerate FranklinWH’s growth and cement its role as an innovative leader in offering whole-home energy freedom across households in the United States and Puerto Rico.
Addressing the Vulnerable U.S. Energy Grid
The funding arrives at a critical juncture in U.S. energy transformation. A staggering 70% of the country’s electricity grid is over 25 years old and susceptible to disruptions. The U.S. Department of Energy has warned that two-thirds of the country could face power outages in summer 2023. Amid this backdrop and an evolving energy landscape that must accommodate bi-directional energy flow and diverse renewable energy sources, FranklinWH’s mission is more relevant than ever.
Utilizing Funding to Advance Energy Storage Solutions
The Series B funding will enable FranklinWH to focus on the development of home battery technology and the integration of diverse energy sources, targeting the broader adoption of renewable energy. Gary Lam, Co-Founder of FranklinWH, emphasized that the “best days of renewable energy are ahead of us.” According to Lam, the fresh capital from Particle Future will be used to expand research and development, optimize supply chain logistics, and scale up company operations and sales network.
FranklinWH’s Market Presence and Product Offering
Since its founding in 2019 with initial funding from Sequoia Capital, FranklinWH has rapidly gained market traction. Its Franklin Home Power (FHP) system, a comprehensive whole-home energy management system featuring AC-coupled storage, has been a hit. Within just a year, FranklinWH has collaborated with over 1,000 installation companies via its FranklinWH Certified Installer program. The company’s tier-one lithium iron phosphate (LFP) cell access allows it to deliver premium battery products to homeowners, installers, and distributors alike.
FHP System Integrates Seamlessly with Existing Infrastructure
FranklinWH’s flagship product, the FHP system, consists of the aPower battery—offering the highest LFP AC capacity in the market—and the aGate, an intelligent power control system. Vincent Ambrose, Chief Commercial Officer at FranklinWH, highlighted that as homeowners are becoming increasingly interested in energy-efficient technologies, the FHP system provides a smooth transition that minimizes household disruption when adopting renewable energy technologies.
With this latest Series B funding, FranklinWH is poised to make significant strides in the whole-home energy management sector, contributing to a future where energy independence is not just a dream but a reachable reality for households across the United States and Puerto Rico.