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Case studies

New Sun Road uses RBF to scale global renewable energy deployment

2000+

Global Sites

20

Countries

$250k

RBF

Accelerating energy access and renewable energy deployment

New Sun Road’s New Sun Road’s (NSR) Stellar Microgrid OS platform helps businesses scale fleets of decentralized renewable energy and storage assets that power communities, mobile networks, and remote utility grids. A leading “Industry 4.0” IoT stack, their platform and proprietary Stellar Edge devices manage mission critical power systems in 20 countries and 4 continents. NSR serves a number of fast-growing market segments including utilities, equipment manufacturers (OEMS such as battery makers), and telecom—geographies include the US, Latin America, Africa and Asia.

With over 2,000 global sites reporting, NSR helps their partners scale distributed renewable energy systems. The Stellar platform is fundamentally geared toward decarbonization of electricity, in that it primarily serves solar-based generation systems, with a much lower carbon burden on a lifecycle basis. New Sun Road accelerates decarbonization in one basic way: it makes it more cost-effective for fleet energy providers to scale solar-based solutions around the world.

New Sun Road contributes to the UN’s Sustainable Development Goals 7 (Affordable and Clean Energy) & 13 (Climate Action).

New Sun Road partnered with Enduring Planet to:

  • Minimize dilution and retain equity value for founders, staff, and shareholders
  • Extend runway and invest in growth in advance of a priced round

Using RBF to grow the NSR way

New Sun Road has always optimized for capital efficiency. The Enduring Planet RBF allowed them to minimize dilution and ensure that repayment is in step with company cash flows at any given moment -- a more appealing option than factoring or assigning receivables, other mechanisms that are typical for early-stage companies.

NSR’s leadership was particularly drawn to the Enduring Planet RBF because it’s entirely non-dilutive, requires no personal guarantees, and a repayment structure with rev-share versus the traditional principal and interest debt model.

The RBF was an important source of bridge funding in parallel with a $750K convertible note, which gave NSR additional ability to hire with confidence to meet growing demand as they looked towards their Series A.

Diversity and Inclusion

New Sun Road meets many of Enduring Planet’s diversity and inclusion criteria. It has a BIPOC founder, 50% of its team is diverse, and the company serves marginalized communities.

Learn more about New Sun Road.

We chose Enduring Planet due to a high degree of confidence in their management, as well as their approach, which was to make the process as easy and efficient as possible for us.

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