Field Secures £200M Investment to Advance Battery Energy Storage Projects
July 4, 2023
Field, a London-based leader in battery energy storage systems, is celebrating a significant boost in funding. The company has secured a £200 million investment from DIF Capital Partners, aimed at accelerating the expansion of its renewable energy infrastructure across the UK and Western Europe.
This substantial investment will propel Field's efforts to develop and construct its pipeline of grid-scale battery energy storage projects, totalling 4.5 GWh. These projects play a vital role in facilitating the transition to renewable energy sources and achieving Net Zero targets.
Battery energy storage systems are crucial for efficiently managing energy generated from renewable sources. Field's innovative technology allows excess energy produced during off-peak periods to be stored and released to the grid when demand is high, contributing to a more reliable and sustainable energy supply.
Already making strides in the UK, Field has operational projects like its 20 MWh battery project in Oldham, Greater Manchester, with several more in various stages of development across the country and in Western Europe. With the support of DIF Capital Partners, Field aims to accelerate the deployment of these projects, enhancing the grid's flexibility and resilience.
Gijs Voskuyl, Partner and Deputy CEO at DIF, expressed excitement about the investment, recognising battery storage as a critical component in achieving Net Zero goals. The partnership between DIF and Field signifies a shared commitment to advancing renewable energy infrastructure and driving sustainable energy solutions.
Amit Gudka, CEO of Field, emphasised the importance of significant investment in new energy infrastructure to meet Net Zero targets. He highlighted battery storage as a cornerstone of this infrastructure, enabling more effective utilisation of wind and solar power on a mass scale.
Field's collaboration with DIF Capital Partners marks a significant milestone in the journey towards a greener future. By leveraging this investment, Field aims to build, develop, and operate the necessary storage infrastructure to create a more reliable, flexible, and environmentally friendly grid system.
In addition to the funding from DIF Capital Partners, Field has previously secured investments from other notable sources, including Plural Platform, Triple Point, and Local Globe. These investments underscore the confidence and support garnered by Field's vision and initiatives in the renewable energy sector.
As Field continues to expand its presence and impact in the renewable energy landscape, the partnership with DIF Capital Partners heralds a new chapter in the advancement of battery energy storage technology. Together, they are poised to drive innovation, accelerate deployment, and contribute significantly to the transition towards a sustainable energy future.