Heila Technologies Announces Additional Investment to Expand Distributed Grid Intelligence with Heila EDGE®, a Modular Energy Platform
Equity Investment from Tokyo Gas Group Completes $3 Million Seed Round
For Immediate Release
November 20, 2020
SOMERVILLE, Massachusetts – Heila Technologies, Inc. (Heila) announced today an investment by Acario Innovation, a wholly-owned subsidiary of Tokyo Gas Co., Ltd., which completes the $3.0 million seed funding round for its Heila EDGE® platform. In October, Heila announced investments from Table Rock Infrastructure Partners, Massachusetts Clean Energy Center and private investors. The completed $3.0 million investment will allow Heila to become a key player in the distributed energy space by building on its existing modular controls and optimization product and developing partnerships with strategic partners such as Tokyo Gas.
“We are very excited to partner with Tokyo Gas to deploy our innovative modular platform in Japan and accelerate the growth of clean and distributed energy resources,” said Francisco Morocz, CEO of Heila. “They are a leading utility with access to various energy markets in Asia, and this is a great opportunity to accelerate the development of resilient and reliable power networks globally.”
Heila Technologies leverages advances in edge-computing, control, optimization and machine learning to allow customers to operate their assets based on grid constraints or economic or sustainability considerations. It can also be scaled as demand needs change, making it the most flexible product on the market.
“I am very pleased that Heila Technologies and Tokyo Gas will be able to jointly develop and deploy microgrid projects using a diverse set of distributed energy resources, thereby opening up the potential of a cleaner, smarter, and more resilient grid.” said Shunjiro Yamashita, CEO of Acario, the Corporate Venture and Open Innovation arm of Tokyo Gas outside Japan.
About Heila Technologies, Inc.
Heila Technologies is an MIT-born company founded in 2015 to simplify the integration and operation of distributed energy resources (DERs). Combining decades of deep theoretical knowledge and practical industry experience, the team at Heila is dedicated to accelerating the adoption of sustainable energy technologies. The Heila EDGE® platform provides unparalleled automation and modularity, dramatically reducing system complexity and cost. The company is based at Greentown Labs in Somerville, Massachusetts. www.heilatech.com
About Tokyo Gas Co., Ltd.
Tokyo Gas Co., Ltd. is Japan’s largest provider of city gas and is Japan’s largest PPS with 2.8GW capacity, primarily in the Tokyo metropolitan area and surrounding Kanto region. The Tokyo Gas Group’s vision, Compass 2030, states that Tokyo Gas will help lead Japan to becoming carbon-neutral by around 2050, establishing a “value co-creation ecosystem” together with its customers, local communities, and business partners, including companies in different industries and startups, and will provide its customers with a variety of solutions such as improving customer comfort and mitigating environmental impacts. www.tokyo-gas.co.jp
About Acario Innovation
Acario Innovation is the Corporate Venture Capital and Open Innovation arm of Tokyo Gas outside of Japan, and is based in Silicon Valley. Acario’s mission is to help prepare and transform Tokyo Gas for the 21st century clean energy economy. Acario Ventures invests in early stage startups in the following ClimateTech sectors: Decarbonization & Hydrogen, New Energy/Grid2.0, Transport Electrification & Mobility, and IOT/Industry 4.0. Acario’s Open Innovation group helps facilitate business and technology partnerships between startups and Tokyo Gas’ business units. www.acarioinnovation.com.