Leap Takes Off With Financing From Presidio Ventures

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Leap&comma; a virtual power plant &lpar;VPP&rpar; platform&comma; has secured additional equity financing from Presidio Ventures&comma; bringing Leap’s total B-EXT funding to &dollar;16 million after a round announced in July 2023&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Leap has experienced rapid growth this year&comma; surpassing 175&comma;000 meters and over 975 megawatts of load on our VPP platform&comma;” said Leap Co-Founder and CEO Thomas Folker&period; &OpenCurlyDoubleQuote;This latest boost of capital will allow us to scale our operations in support of our rapidly-expanding portfolio of technology partners&period;”<&sol;p>&NewLine;<p>Leap’s software platform facilitates fast&comma; automated access to energy markets for battery storage systems&comma; electric vehicle &lpar;EV&rpar; charging&comma; smart thermostats&comma; building management systems and other distributed energy resources &lpar;DERs&rpar;&comma; making it easy for technology providers and operators to earn revenue in demand response and other grid services programs&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We’re committed to supporting the technologies of tomorrow to secure their place in the global market&comma;” said Seth Nishida at Presidio Ventures&comma; the corporate venture capital arm of <a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;sumitomocorp&period;com&percnt;2Fen&percnt;2Fjp&amp&semi;esheet&equals;53851136&amp&semi;newsitemid&equals;20231116240841&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Sumitomo&plus;Corporation&amp&semi;index&equals;4&amp&semi;md5&equals;011ab96ae81e3ff3927e776bf02a81d4" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Sumitomo Corporation<&sol;a>&period; &OpenCurlyDoubleQuote;Leap is well-positioned to scale its innovative solution for maximizing the value of DERs in energy markets and accelerate the decarbonization of the world’s electric grids&period;”<&sol;p>&NewLine;