TORONTO — Toronto-based Peak Power (Peak) today announced that it has closed funding from The Atmospheric Fund (TAF), representing the fifth investor in Peak’s capital funding round. TAF will join Sensata Technologies, Export Development Canada (EDC), BDC Capital, and Hatch/Canadian Shield as a strategic investor in Peak.
TAF brings to the round their focus on carbon emissions reduction, as they have a mandate to advance local solutions to climate change through high impact investments. Their contribution aligns with Peak’s commitment to decarbonize energy, the built environment, and mobility through enabling intelligent energy in smart cities. Peak’s smart buildings platform, Peak Insight™, which helps clients reduce their emissions and generate revenue through electricity markets, is already deployed in over 15 million square feet of commercial and industrial real-estate in Ontario, New York, and California.
“Our objectives as an impact investor are to make risk-adjusted returns, create carbon reduction, and mobilize capital into climate solutions,” said Tim Stoate, Vice President, Impact Investing at TAF. “Peak Power touches on all of our priorities, particularly because their system enables carbon reduction in both the building and transportation sectors, the highest emitting sources of carbon in our urban region…