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Rhombus Energy Solutions Closes Series C Funding

(Rick Sander, CEO, Thursday September 17, 2020)

Today Rhombus announced the closing of our Series C funding round. The round was financed by a consortium of advanced energy investors led by Emerald Technology Ventures, Cycle Capital, Inci Holding, Nabtesco Technology Ventures, Greenhouse Capital Partners and existing shareholders. The closing of this round is a vote of confidence by the investment community in the future of electric vehicles (EVs), and especially in medium/heavy duty (M/HD) EVs which are utilized by fleet operators. Like our investment partners, we also see a strong future in M/HD EVs, and in providing bidirectional chargers for these products. The electrification of vehicles such as school buses, public transit buses, refuse trucks, and other M/HD vehicles is expanding rapidly, and the need for high-power bi-directional chargers with vehicle-to-grid (V2G) capabilities such as those from Rhombus are critical to this electrification process.

Even more importantly, the closing of this recent funding round is testament to the expertise and capabilities of the Rhombus Energy Solutions team. Since the founding of our company in 2012, we have strived to design and build the best high-power energy solutions, including EV chargers, inverters, and test equipment. Rhombus has built high-power bi-directional inverters for renewable energy such as “behind the meter” grid energy storage systems for several years. Rhombus  also excels in the design and testing of high-power electrical equipment to meet the requirements of UL and other certification organizations. We are also one of the few companies that has built bi-directional, UL 1741-SA certified chargers for M/HD EVs. The unparalleled features, capabilities, and reliability of our solutions has allowed us to ship over 800 systems into the most demanding applications.

I am very proud of our team and their accomplishments, and how these capabilities have allowed Rhombus to be a market leader and grow as a company. They are why we have been able to accomplish what we have accomplished, and our recent funding round is proof of that. Our team looks forward to the growth which this next funding round enables, including the ability to support the growing demand for our products and the development of next-generation technologies and architectures for our products. Find out how our team can help your organization by contacting us at sales@rhombusenergy.com, by reading our Vehicle to Grid Solution Brief, or by viewing our video or webinar on Vehicle-To-Grid technology. Again, thank you to the Rhombus team, our customers, partners, and investors – we look forward to working with you!

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