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Renewable Energy Startup Caban Systems Raises $51M in Series B Funding

Renewable Energy Startup Caban Systems Raises $51M in Series B Funding

Caban Systems raised $51 million in a Series B round. BCP Ventures led the investment, including participation from Ontario Power Generation Pension Fund, Ember Infrastructure, Portfolia and Inspiration Ventures.

The company aims to develop domestic battery manufacturing capacity, broaden its product and service offerings and expand into worldwide markets with the funds.

The Burlingame, CA-based company provides comprehensive energy solutions that help to decarbonize and upgrade essential infrastructure. Caban has pioneered a turnkey solution that incorporates its patented lithium-ion energy storage technology, intelligent remote monitoring software and integrated Energy-as-a-Service offering.

Founded in 2018 by Alexandra Rasch Castillo and Brian Pevear, Caban first showed success as an alternative energy solution for the Americas telecoms industry. Its technology has now reached a critical juncture in its development to satisfy sustainable energy needs in important infrastructure sectors.

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Caban Systems

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.