Viridi Parente Valuation, Funding & Investors

Viridi Parente is valued at $700M as of January 2022.

Last Viridi Parente valuation

$700M

Series C · Jan 2022

Last Viridi Parente funding round

$95M

Series C · Jan 2022

Cumulative funding Viridi Parente raised

$124M

across 2 funding rounds

Key investors in Viridi Parente

  • Grand Oaks Capital
  • B. Thomas Golisano
  • Sunbelt Rentals

Viridi Parente Overview

About Viridi Parente

Viridi Parente is a Reno-based energy technology company that engineers proprietary power systems replacing fossil fuels, lead-acid batteries, and legacy distributed platforms with sustainable alternatives.


Founded

2012

HQ

United StatesBuffalo, NY

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$700M (Jan 2022)

Viridi Parente Valuation

Viridi Parente is currently valued at $700M, based on its Series C in January 2022.

The $95M round included Sunbelt Rentals and B. Thomas Golisano.

Viridi Parente's valuation has grown 8.8x from $80M at its Series B in December 2019 to $700M in January 2022, across 2 priced rounds.

Viridi Parente valuation by funding round

Viridi Parente valuation by funding round
DateStageValuation
Jan 2022Series C$700M
Dec 2019Series B$80M

Viridi Parente Funding History

Viridi Parente has raised a total of $124M across 2 funding rounds.

Viridi Parente's first fundraising round was a $29M Series B in December 2019. The most recent completed round was a $95M Series C in January 2022.

Viridi Parente funding rounds

Viridi Parente funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2022Series CSunbelt Rentals; B. Thomas Golisano$95M$700MViridi Parente develops safe, resilient, point-of-use lithium-ion battery storage technology for applications including construction equipment and stationary energy storage, emphasizing fail-safe designs using carbon fiber thermal management originally developed for NASA. The company, founded by Jon M. Williams and based in Buffalo, New York, focuses on electrifying heavy machinery and providing non-fossil fuel dependent power solutions to meet carbon reduction demands. In January 2022, Viridi Parente raised $94.7 million in a Series C funding round led by B. Thomas Golisano through Grand Oaks Capital, with new investors Ashtead Group/Sunbelt Rentals and National Grid Partners. The round valued the company at $700 million post-money and followed prior raises including a $29 million Series B in 2020 that brought valuation to $80 million and a $4 million seed in 2018 at $12 million. Funds are earmarked for scaling production to meet extraordinary market demand, expanding manufacturing, and supporting growth in battery packs for industrial use. Strategic partnerships emerged from the round, notably with Sunbelt Rentals, which operates over 1,025 locations and an $11 billion rental fleet, to install electric powertrains on equipment like track loaders and transition diesel/gas fleets to energy storage platforms. National Grid Partners, whose parent was an early customer, backs Viridi's industrial vehicle and stationary storage initiatives. Existing investors like Impact Capital, Varia Ventures, and Western New York Impact Investment Fund also participated. The investment positions Viridi to address surging needs for safe lithium-ion batteries in point-of-use settings amid the shift to renewables, with backers highlighting the technology's extreme-condition testing and market readiness. Golisano emphasized production ramp-up for near-term demand and long-term expansion, while Sunbelt seeks equipment for customer sustainability goals.
Dec 2019Series BGrand Oaks Capital (lead)$29M$80MViridi Parente is a Buffalo-based renewable energy company founded by Jon Williams that develops lithium-ion battery-powered heavy construction equipment and supplemental power storage systems, targeting clean energy applications in construction, utilities, and stationary storage. The company launched in June 2018 with a $4 million Series A round at a $12 million valuation and rapidly advanced its proprietary battery technology beyond proof-of-concept to market deployment across state, national, and international levels within 18 months. On December 11, 2019, Viridi Parente closed a $29 million Series B funding round, with Grand Oaks Capital—founded by billionaire Paychex co-founder B. Thomas Golisano—investing the majority at $20 million and joining the board; other participants included Impact Capital of New York, Varia Ventures, Western New York Impact Investment Fund, and private investors. Grand Oaks Capital continued support in later rounds, including the January 2022 Series C at $94.65 million with a $605-700 million valuation involving additional investors like Ashtead Group, National Grid Partners, and Sunbelt Rentals. Viridi Parente has pursued facility expansions, federal loans for production scaling to 100,000 units annually, and partnerships such as with Sunbelt Rentals and National Grid, its first customer for battery-powered equipment.

Who has invested in Viridi Parente?

3 investors have backed Viridi Parente across its funding rounds, including Grand Oaks Capital, B. Thomas Golisano and Sunbelt Rentals.

Lead investors include Grand Oaks Capital.


Viridi Parente Investors

Investors in Viridi Parente by funding rounds participated
InvestorHQRoundsRoleFirst check
Sunbelt RentalsUnited StatesMemphis, TN1ParticipantJan 2022

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Viridi Parente Competitors

Viridi Parente competitors include listed companies like Array Technologies, Energy Vault and Canadian Solar, and private ones like LonDian, MSolar and Rayzon Solar.

Public and private companies comparable to Viridi Parente
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Array TechnologiesUnited StatesUnited StatesPublicly listed$1.3B$34M$650M1.1x
Energy VaultUnited StatesUnited StatesPublicly listed$204M($83M)$769M3.6x
Canadian SolarUnited StatesUnited StatesPublicly listed$5.6B$546M$798M1.5x
LonDianChinaShenzhenPrivate--$800M-
MSolarUnited StatesUnited StatesPrivate--$801M-
Rayzon SolarIndiaSuratPrivate-$51M$836M-

Viridi Parente Public Comps

Viridi Parente is still privately-owned, but its public comps include XP Power, Voltalia, Mogan Enerji, Hyliion, Array Technologies, Viridien, Ballard Power Systems, PNEGroup, Electro Alfa and General Fusion.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
XP Power$309M$26M2.7x2.6x32.7x15.1x
Voltalia$677M$163M5.0x4.8x20.9x13.9x
Mogan Enerji$223M$105M3.0x1.8x6.3x3.4x
Hyliion$3M($60M)192.1x60.8x(11.2x)(13.9x)
Array Technologies$1.3B$34M1.2x1.1x47.5x7.5x
Viridien$1.1B$272M1.6x1.5x6.1x3.4x
Ballard Power Systems$99M($85M)2.7x2.6x(3.2x)(4.6x)
PNEGroup$265M$49M5.7x3.7x31.0x14.7x

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Common questions about Viridi Parente

When was Viridi Parente founded?Viridi Parente was founded in 2012.
Where is Viridi Parente headquartered?Viridi Parente is headquartered in Buffalo, NY, United States.
Is Viridi Parente publicly listed?No, Viridi Parente is a private, VC-backed company.
What is Viridi Parente's valuation?Viridi Parente was last valued at $700M in its Series C in January 2022.
How much funding has Viridi Parente raised?Viridi Parente has raised $124M across 2 funding rounds.
What was Viridi Parente's last funding round?Viridi Parente's last funding round was a $95M Series C in January 2022.
Who are Viridi Parente's investors?Viridi Parente's investors include Sunbelt Rentals, Grand Oaks Capital and B. Thomas Golisano.
Which companies are comparable to Viridi Parente?Companies comparable to Viridi Parente include Array Technologies, Energy Vault, Canadian Solar, LonDian, MSolar and Rayzon Solar.

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