Apricus Generation closes Series A funding round to fuel growth

Apricus Generation Inc, a US national distributed solar and battery development platform and independent power producer (IPP), has closed its Series A financing round and is over-committed towards its USD-100-million (EUR 89.9m) corporate equity capital raise goal.

The funds will be used to advance the start-up’s business plan and support the growth of its recent acquisition of a controlling stake in Nexus Renewables Inc. They will also allow the company to make additional inorganic growth investments and fuel the buildout of solar and battery systems, a press statement said on Wednesday.

The transaction was led by Blue Marlin Partners and Current Yield with Participation (CYwP) Fund.

Apricus was launched in April. At the time, the company also announced the initial closure of its Series A financing round, raising USD 28 million.

At the end of May, Apricus invested in Toronto-based community solar and storage developer Nexus.

(USD 1 = EUR 0.900)

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