London, 29 November 2021 ― Japan Energy Fund is pleased to announce that it has invested in Leapfrog Power, Inc. (“Leap”), a provider of an energy market access platform designed for distributed energy resources. We believe that Leap’s technology has the potential to help further innovation in the energy industry, and is an important step on the road to net zero.
In their recent Series B round, Leap raised 33.5M USD, which was led by Park West Asset Management (US investment firm), followed by Climate Capital, Union Square Ventures, Congruent Ventures, National Grid Partners, and more.
Leap’s platform enables DERs to easily participate in energy markets. Working with the technology and service providers who manage and operate grid-connected devices, Leap automates energy market access and creates new value streams for its partners and their customers. Via Leap’s Universal API and single point of entry, Leap’s partners can connect devices of any type and load size to a wide array of revenue generation opportunities.
We believe Leap is a strong contender in this field as partners like Stem, Inc. use Leap’s solution, enabling smart energy devices to respond to market pricing signals that reflect the needs of the grid. This empowers these devices to provide stability to the grid while enabling new revenue streams for asset owners. By aggregating flexible loads from a wide array of distributed energy resources (DERs) to support the grid, Leap accelerates the ability to phase out the more expensive fossil fuel-powered peaker plants the grid currently relies on. Considering the increased visibility of energy issues and the renewed commitment to net zero globally and in Japan, the Japan Energy Fund believes Leap’s solutions are a promising development on the road to full decarbonisation.
Leap is the leading global platform for generating new value from grid-connected resources and devices through integration with energy markets. Leap does all of the heavy lifting, seamlessly connecting technology partners to high-value revenue streams and providing a simplified, automated access point for market participation with batteries, electric vehicle charging, smart thermostats, HVAC systems, industrial facilities, and other flexible assets. By making it easy for new distributed resources to participate in energy markets, Leap lays the groundwork for virtual power plants (VPP). Leap empowers its partners to provide resilient, zero-carbon capacity to the grid while strengthening engagement with their customers through new value streams. Leap is a privately held company with offices in San Francisco and the Netherlands. Since its foundation, Leap has raised 44.1M USD in total, including funding received from Elemental Excelerator and Powerhouse Ventures.
About Japan Energy Fund
Backed by prominent Japanese companies, the Fund aims to build a sustainable society through investment in innovative international companies with technologies related to decarbonisation. There are two main axes in the Fund’s initiative: JEF Renewables and JEF Ventures. The former invests in renewable energy businesses in emerging countries, and the latter invests in energy-based start-ups with advanced technologies in European and North American countries with advanced energy markets. Through these investments, the Fund aims to build a sustainable society focusing on five SDG goals.