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- Viridi Parente
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Jan 2022 | Series C | $700M |
| Dec 2019 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series C | Sunbelt Rentals; B. Thomas Golisano | $95M | $700M | Viridi 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 2019 | Series B | Grand Oaks Capital (lead) | $29M | $80M | Viridi 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jan 2022 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialViridi 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.3B | $34M | $650M | 1.1x | ||
| Publicly listed | $204M | ($83M) | $769M | 3.6x | ||
| Publicly listed | $5.6B | $546M | $798M | 1.5x | ||
| Private | - | - | $800M | - | ||
| Private | - | - | $801M | - | ||
| Private | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $309M | $26M | 2.7x | 2.6x | 32.7x | 15.1x | |||
| $677M | $163M | 5.0x | 4.8x | 20.9x | 13.9x | |||
| $223M | $105M | 3.0x | 1.8x | 6.3x | 3.4x | |||
| $3M | ($60M) | 192.1x | 60.8x | (11.2x) | (13.9x) | |||
| $1.3B | $34M | 1.2x | 1.1x | 47.5x | 7.5x | |||
| $1.1B | $272M | 1.6x | 1.5x | 6.1x | 3.4x | |||
| $99M | ($85M) | 2.7x | 2.6x | (3.2x) | (4.6x) | |||
| $265M | $49M | 5.7x | 3.7x | 31.0x | 14.7x | |||
This data is available for Pro users. Sign up to see all Viridi Parente competitors and their valuation data. Start Free Trial | ||||||||
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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