Apricus Generation Closes Series A Funding for Solar, Battery Development
Apricus Generation closed its Series A funding round led by Blue Marlin Partners and Current Yield with Participation (CYwP) Fund. The holding company has already raised most of the capital and is “over-committed” towards its $100 million goal, the company said.
Led by co-founders Gautam Chandra and Ravi Thuraisingham, the Apricus platform provides solar and battery storage developers with management expertise and capital to advance their project pipeline to generation.
The funds will be used to accelerate Apricus’ business plan and support the growth of its recent acquisition of a controlling interest in Nexus Renewables, Inc., a Toronto-based developer of U.S. solar and energy storage projects. The fresh capital will also fuel additional acquisitions and the buildout of solar and battery energy systems.
“CYwP Fund IV benefited recently from a highly successful exit with one of the Apricus founder’s previous ventures, and we are extremely pleased that CYwP Fund VII and CYWP Solar Energy I have the opportunity to participate again with the founders in their new venture in the exciting and fast-growing solar and battery storage sector,” said Ethan Assal, founder and managing Partner of CYwP Fund.
