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Mainspring Energy Grabs $95M Series D Round

2021-05-04
MENLO PARK, CA, Onsite power generation provider Mainspring Energy today announced its Series D financing of $95 million.
Onsite power generation provider Mainspring Energy today announced its Series D financing of $95 million to accelerate delivery of the company's breakthrough new product, the Mainspring Linear Generator, to a broad range of commercial, industrial, microgrid, and utility customers. The Series D round, led by Devonshire Investors, the private equity firm affiliated with FMR LLC, the parent company of Fidelity Investments, brought in other new investors including Princeville Capital, 40 North Ventures, and Chevron Technology Ventures, as well as existing investors Khosla Ventures, Bill Gates, ClearSky, AEP, KCK, and Equinor. This investment brings the total capital raised by the company to $228 million.

Driven by its vision of the affordable, reliable, net-zero carbon grid of the future, Mainspring is delivering a new category of power generation - the linear generator - that delivers onsite, dispatchable, fuel-flexible power at low cost. Based in Menlo Park, Calif., Mainspring is backed by top-tier venture, strategic, and financial investors. www.mainspringenergy.com.
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