Plano-based Caban has raised $50 million in new equity funding from existing investors that it said will fuel its continued expansion and the deployment of fully-financed Energy-as-a-Service (EaaS) projects under long-term contracts.
Founded in 2018, Caban is a leader in alternative energy solutions for critical infrastructure, with offices across the Americas as well as in Dubai, United Arab Emirates.
Caban said the new funding will allow it to accelerate the delivery of its advanced energy solutions supporting critical infrastructure operators in their transition to sustainable, cost-effective power while enhancing reliability.
“This funding accelerates our mission to transform the energy landscape for essential infrastructure,” Caban CEO Alexandra Rasch said in a statement. “As demand for proven, resilient, and sustainable energy solutions continues to grow, we remain committed to delivering innovative, data-driven technologies that empower businesses while driving measurable environmental impact.”
The company said its battery storage and energy management technologies provide reliable, clean energy while reducing both operating costs and environmental impact.
Caban said it is actively deploying Energy-as-a-Service solutions for customers across Central and South America, the Caribbean, and the United States. Via its EaaS offering, Caban designs, installs, and operates clean energy infrastructure while the client pays a fixed energy and O&M fee.
That offering is “ideal” for businesses that want to reduce their energy costs and carbon footprint without investing capital to own and manage these energy assets, the company said.
‘A strategic milestone’
“Completing this equity raise alongside securing long-term debt financing marks a major strategic milestone for Caban,” Ryan Bisch, Caban’s president and chief investment officer, said in a statement. “Combined with several recently closed project finance facilities, this most recent capital raise reinforces the strength of our Energy-as-a-Service platform and showcases the deep confidence in our team’s ability to execute.”
Funds managed by Ember Infrastructure Management LP, Caban’s majority shareholder, led the round. New York-based Ember is a private equity firm focused on investing in sustainable infrastructure solutions. It has $1.25 billion in assets under management.
“Caban has consistently demonstrated a strong ability to innovate and execute in the rapidly evolving energy sector,” said Ember Managing Partner Elena Savostianova. “We’re excited to support their next phase of growth as they continue to expand their Energy-as-a-Service project portfolio and deliver meaningful value to telecommunications industry customers that require dependable and sustainable power solutions.”
Tech deployed in 12 countries
Caban said its proprietary lithium-ion battery packs and energy storage systems are designed to provide reliable primary power and backup power to critical infrastructure. Its hardware and software solutions reduce fossil fuel consumption, maintenance visits, and overall operating costs while enhancing reliability, the company said.
Caban designs, manufactures, and tests its energy management systems out of its primary manufacturing facility in Plano, offering customers a best-in-class, end-to-end energy management solution that is scalable, modular, and durable built for every environment.
The company said it has experienced strong momentum in recent years, forging key partnerships and securing long-term contracts with some of the largest telecommunications companies in the world, including a recently announced new project with Digicel.
Caban said its solutions have been successfully deployed across 12 countries, enabling businesses to enhance their energy resilience while meeting ambitious sustainability goals.
Along with its Plano headquarters, Caban has offices in San Mateo, California; Miami, Florida; Guatemala City, Guatemala; Medellin, Colombia; Kingston, Jamaica; and Dubai, United Arab Emirates.
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