XENDEE Raises $12M Series A Financing to Accelerate Deployments of Net-Zero Distributed Energy Systems and Ultra-Fast EV Charging Infrastructure
On June 15, 2022, Cleantech San Diego member and Southern California Energy Innovation Network (SCEIN) company XENDEE, a leader in distributed energy resources (DER) planning and operation software, announced that it raised $12 million in Series A financing to increase the company’s Net-Zero DER and ultra-fast Electric Vehicle (EV) charging platform deployments.
Anzu Partners led the round, with additional financing from TravelCenters of America Inc., (Nasdaq: TA), the nation’s largest publicly traded full-service travel center network, Evergy Ventures, the non-regulated investment arm of Evergy, Inc. (NYSE: EVRG), and Surlamer Investments.
“We are pleased to announce new financing from these strategic investors and partners that will help increase XENDEE’s market presence and accelerate the global adoption of alternative energy systems needed to achieve superior business outcomes and net-zero carbon emissions goals,” said Adib Naslé, CEO and Co-Founder of XENDEE. “We look forward to working closely with our new partners to improve the adoption, delivery, and operation of reliable clean energy systems worldwide.”
“At TA, we are strongly committed to sustainability and alternative energy,” said Jon Pertchik, Chief Executive Officer of TravelCenters of America. “The nation needs a viable infrastructure to increase the adoption of sustainable fuels, and TA’s investment in XENDEE reflects our ongoing commitment to this goal. By using an optimized solar-powered microgrid, XENDEE is developing a powerful and publicly accessible electric truck charging source that is ideal for use at travel centers. We believe it could serve as a blue-print for deployment and operation of Net-Zero EV fast charging stations nationwide.”
XENDEE’s platform integrates all stages necessary to achieve bankable distributed energy systems in a more intelligent way that ensures superior business outcomes with unmatched speed and accuracy. It generates sophisticated CFO and engineer-ready reports for DER project decision support, planning, design, resilience, and real-time operation. XENDEE also implements a physically based economic decision support system that couples financial optimization with detailed electrical power system analysis to verify resilience and financial viability before the first cable is laid.
Evergy Ventures Vice President Dennis Odell added, “XENDEE’s transformational software technology unlocks the DER value chain by delivering the sophistication and speed electric utility planners and their customers need to decarbonize and democratize access to clean, reliable energy.”
XENDEE serves government and private entities who share its mission for a cleaner, and more energy-efficient planet. As the rate of severe climate disasters has increased, the company has taken on several projects to help develop and implement environmentally and financially sustainable zero-carbon DER systems in geographies most prone to climate disasters, such as Puerto Rico, where in partnership with Idaho National Labs, the company is helping to create a zero-carbon microgrid in the mountain region. XENDEE also earned the prestigious Edison Gold Award in 2021 in the human critical infrastructure category for the potential of its technology to transform how the world transitions towards resilient and carbon-free alternative energy systems.
XENDEE also announced that Whitney Haring-Smith, managing partner at Anzu Partners will be joining its Board of Directors.