Renewable energy infrastructure startup Field, headed by Bulb co-founder Amit Gudka, has announced it is looking to build 1.3GW of battery storage by 2024.
Field, formerly Virmati Energy, was launched by Gudka in January after he stepped down from his role at the disruptor brand.
The company announced today (17 August) it has secured a pipeline of 160MW of battery storage projects to be operational by the first quarter of 2023, with work on the first 20MW system underway at a site in Oldham, Greater Manchester.
The pipeline includes sites across the UK. Field said it is in advanced discussions to secure a further 330MW of battery storage projects.
Field Oldham is due to go live in April 2022 with the next, Field Gerrards Cross, following in August. Field said the two projects will be able to supply enough electricity to meet the demand of 120,000 households for an hour.
The company has raised £10 million in pre-seed and Series A funding to cover initial acquisition and construction costs ahead of a Series B fundraise in September.
Gudka said: “Tackling the climate crisis requires belief that large systemic changes can be made, with the determination to make them happen fast.
“The pipeline and the funding we’ve secured over the last few months, with the team we’ve built, shows it’s possible to move fast to make the changes we need to reach net zero.
“I’m really excited about the progress we’re making, and the opportunity to show there’s a better way to invest, which redirects capital towards the assets needed to accelerate the renewable transition.”