dcbel Closes USD $50M+ Series B for its Breakthrough Bidirectional Home and EV Energy Station

Funding round led by Idealist Capital; Pierre Larochelle named to Board of Directors

MONTREAL, Aug. 17, 2023 /PRNewswire/ - Smart home energy company dcbel and existing investors Volvo Cars, Coatue, Kevin Mahaffey and Real Ventures are welcoming Idealist Capital following the closing of a successful USD $50M+ Series B. Looking to build upon the tradition of clean energy innovation in the region, Investissement Québec will also be participating in the Series B. This up-round financing will enable dcbel to accelerate delivery of the Home Energy Station within its targeted territories. dcbel empowers homeowners to take control of their energy by leveraging renewable assets such as solar panels, stationary batteries and their electric vehicle (EV) to avoid blackouts, save money when energy prices peak, and earn money while contributing to the stability of the grid.

Pierre Larochelle, Co-Managing Partner of Idealist Capital, will be appointed to the dcbel Board of Directors. Mr. Larochelle brings 25 years of financial advisory and investment experience and has been an active investor in the renewable energy, electrification of transportation and sustainability sectors for over 10 years. Mr. Larochelle currently sits as Chairman of the Board of The Lion Electric Company.

"For over a decade, I have focused on climate impact investments in the renewable energy and storage, energy efficiency and electrification sectors," said Mr. Larochelle. "dcbel sits at the nexus of all these industries, representing a truly exciting opportunity to change the way we think about home energy. I am honored to join dcbel's board as the company brings its innovations to market."

"dcbel will greatly benefit from welcoming a distinguished group of investors," explained Marc-Andre Forget, CEO of dcbel. "This funding positions our company to accelerate our growth and is a testament to the strength of our team, product and traction. We are proud of bringing to market a sustainable solution to accelerate the energy transition and give homeowners control over their energy."

The dcbel r16 Home Energy Station is the world's first all-in-one home energy solution. Along with bidirectional EV charging, the device provides a powerful solar and stationary battery inverter with built-in artificial intelligence capabilities. Learning from a home's historical energy consumption data, the device can predict energy needs and secure the cleanest electricity at the lowest cost.

dcbel's Orchestrate OS platform is open to third-party applications and, for the first time, allows customers to subscribe seamlessly and safely to multiple energy programs provided by utilities, energy service providers, microgrids and virtual power plants (VPP) without having to install any additional equipment in their home. The dcbel Home Energy Station is able to trade and exchange energy on behalf of subscribers when it benefits them to do so, favoring both utilities and the prosumer.

The r16 Home Energy Station is the first in a suite of products dcbel plans on releasing to help homeowners reduce everyday costs. The product can be reserved online at dcbel.energy.

dcbel was founded in 2015 on the principle that everyone deserves clean, reliable and sustainable energy to live a life without compromise.

The company's Home Energy Station perfects the art and science of smart home energy, allowing people to take ownership over their energy supply with one small device. Homeowners can supply their home and EV with solar power, use vehicle-to-home charging to make power outages a thing of the past, and reduce energy costs with artificial intelligence.

To learn more, visit dcbel.energy.

SOURCE dcbel Inc.