Augusta & Co is delighted to have acted as exclusive financial adviser to terralayr on its €192 million equity capital raise, which includes an €80 million upsizing option. terralayr is one of Germany’s most advanced and fastest-growing Battery Energy Storage System (BESS) owner operators. The investment will accelerate the company’s growth trajectory and support its ambition to become a leading BESS platform in Germany.
Today terralayr owns more than 150 MW of operating and under-construction assets in Germany, and close to 200 MW ready-to-build assets, partially backed by tolling agreements with RWE and Vattenfall. In addition, it has a significant 8 GW pipeline developed in-house and via co-development agreements. Complementing its BESS development engine, terralayr operates Germany’s first dedicated digital flexibility-as-a-service platform, LAYR, which virtualizes battery assets, and provides a route-to-market solution. The LAYR platform contracts BESS capacity via flexibility auctions – both for terralayr’s own assets, as well as participating third party BESS sponsors and users of flexibility. This combination of assets, marketplace and proprietary software technology makes the company a front runner in the industry.
The newly raised capital will support the rapid build-out of this pipeline across Germany. With rising renewable energy penetration and increasing system flexibility needs, terralayr is set to play a pivotal role in enabling a more resilient energy system.
Philipp Man, Co-Founder and CEO, terralayr commented: “Augusta’s deep sector knowledge and credibility with investors was a key differentiator in this transaction. Their expertise and judgement enabled us to position the business effectively, manage multiple stakeholders and navigate a fast-moving environment. Their hands-on approach and senior-level involvement were instrumental in achieving a very strong outcome.”
Romane Guitard, Partner at Augusta & Co commented: “This transaction validates the company’s position as a leading BESS platform and equips the team with the right capital to accelerate deployment and deliver on its ambitious growth plans. Advising on this transaction in a fast-moving BESS market required a clear understanding of what truly differentiates platforms over the long term and we worked closely with terralayr to articulate the strength of its integrated model, the quality of its pipeline, and its ability to execute at speed.”
Charlie Hodges, Partner at Augusta & Co commented: “With this transaction, terralayr joins the ranks of some of the best funded BESS platforms in Germany, with substantial resources to expand its operating base and offtake platform. Germany is among the fastest-growing battery storage markets globally, and with Eurazeo’s investment, terralayr can consolidate its market position in the coming years. Congratulations to all involved on this exciting achievement.”
Contacts:
Romane Guitard: RGuitard@augustaco.com
Charlie Hodges: CHodges@augustaco.com
Joachim Wagner: JWagner@augustaco.com