German battery storage developer and operator Terralayr has launched a fresh topco equity raise, having previously brought on board France-based Rive Private Investment as an investor in the business in autumn 2024, it is understood.

Founded in 2022 and headquartered in Zug, the group develops, owns and operates battery storage assets across Germany, and also offers “flexibility as a service” through its proprietary cloud-like software platform.

The platform can be utilised by power producers, traders, grid operators and large power consumers such as data centres, offering flexibility services with durations from less than 15 minutes up to 15 years.

In addition, for grid-scale battery owners, this offers a new way to optimise capacity, generating higher and more stable returns, according to the company.

The group is working with financial advisor Augusta & Co (financial) on the transaction, which launched earlier in April. Non-binding offers for a minority stake in the business fall due in mid-May, according to market sources.

Terralayr CEO Philipp Man told NPM in an interview in January that it expects to take its installed battery capacity to over 100 MW by the end of 2025, while it was also planning larger, additional equity and debt raises to support the growth of its business and portfolio over coming quarters.

“We anticipate that within the next 12 to 18 months we will have in the triple digits – low-to-mid triple digits [MW of installed capacity] on balance sheet, live,” Man said at the time.

Terralayr develops its projects in-house through a 50%-owned greenfield joint development venture, as well as through a number of co-development agreements.

The company owned one operational BESS asset of 10 MW / 10 MWh in size at the time of Rive’s investment six months ago, while two further circa 20 MW / 20 MWh projects were due online over December 2024 – Q1 2025.

The group is aiming to have brought a further 300 MWh of BESS capacity to ready-to-build by the end of H1 2025, while its total development pipeline stands at around 5 GW.

It has over recent weeks announced RTB status has been achieved for a trio of projects, including a 15MW/30MWh scheme in Döbeln, Saxony and a Altencelle -located 15MW/30MWh facility both due online by late 2025 and a 8 MW / 16 MWh Lohsa-located project due online by early 2026.

Terralayr had as of autumn 2024 raised around EUR 60m in equity and EUR 15m in debt.