NineDot announced it secured $25M in revolving credit from New York State Energy

 

NineDot announced it secured $25M in revolving credit from New York State Energy Research and Development Authority's NY Green Bank.  The startup aims to build 400 MW of energy systems by the end of 2026. NineDot plans to use the revolving credit to fund its connectivity to the grid in the New York City Metro area through 14 energy storage sites.  According to the NYC Department of Building's methodology, if NineDot's 5 MW batteries operated for all of 2022, it would have saved 420 tons of carbon dioxide equivalents.  NineDot was a participant in ride-hailing company Revel's vehicle-to-grid testing with Fermata and Con Edison in Brooklyn.