Sign In or Create an Account.

By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy

Climate Tech

Tyba Raises $14 Million to Help Batteries Make Money

The startup told Heatmap exclusively that the funding will help it reach new markets in the U.S. and abroad.

Tyba facilities.
Heatmap Illustration/Tyba, Getty Images

By 2035, BloombergNEF projects that the U.S. will build an additional 221 gigawatts of battery storage, a more than 10-tenfold increase from July of last year. But as intermittent renewables, rising electricity demand, and extreme weather make grid operations increasingly complex, it can be a struggle for energy producers to manage their battery assets as efficiently and profitably as they could be — discharging when prices are highest and energy is needed most and charging when prices are lowest.

Tyba helps a range of companies — from oil major TotalEnergies to smaller, independent energy producers — optimize their battery storage systems. The startup’s AI-enabled platform provides timely, accurate price forecasts and automates energy dispatch decisions and bidding strategies to sell electricity into the market. The company just raised a $13.9 million Series A round, led by the climate tech investor Energize Capital, bringing its total funding to $18.5 million. Tyba currently supports over 1 gigawatt of batteries in California and Texas, but Baker told me this latest funding round will allow the company to expand into new markets domestically, and eventually internationally.

“When there’s a winter storm, or when there’s a plant that trips offline, prices can go up from, on average, $50 to $5,000, and so that massive spike drives a tremendous amount of revenue. In a single five-minute interval, we might earn up to 20% of the revenue for a year,” Tyba’s CEO and co-founder Michael Baker told me. “Our forecast strategies and also our bidding strategies are especially tuned to forecasting those events and making sure we’re in the market to sell power and capture that.”

Referring to data from Texas energy regulator ERCOT, Baker told me that top-performing battery assets there generated about 50% more revenue than average-performing assets, and that the batteries Tyba managed were consistently in the top tier. (California doesn’t release as much data, so he can’t be as precise, but Baker said “the uplift is comparable“ there.) Energy producers today generally work with less sophisticated, bespoke software solutions that are difficult to replicate, as they’re usually tailor-made to solve specific problems in specific markets. Especially in a political environment that’s unfriendly to renewables development in general, though, making battery storage systems the most profitable option for power producers is an obvious way to ensure they’re more widely deployed.

“These developers, they’re infrastructure companies. They’re not technology companies,” Tyler Lancaster, a partner at Energize Capital, explained. And they’ve had a hard time building software that can keep up with the ever-changing needs of the grid. “As a result, they’ve seen those assets and those batteries that they’ve deployed generate a lot less revenue than they thought.”

The Northeast and Mid-Atlantic regions are likely areas for growth due to their acute grid capacity needs, he said. Many of Tyba’s customers are working closely with data center developers as tech companies desperately seek out clean, reliable power to support their AI-driven load growth.

As for the impact of President Trump’s increased tariffs on Chinese imports or the potential elimination of Inflation Reduction Act incentives such as the investment and production tax credits, neither would be good news for the battery storage sector at large. “If we do have substantial tariffs and there is any impact on the tax credits, that will certainly slow down the pace of deployment and the growth of these technologies,” Baker told me. Tyba’s customers are gearing up. “They’re definitely preparing for the worst, including things like pre-purchasing equipment years in advance.”

The economics of battery storage have to be an undeniable winner to weather these headwinds, and Baker is confident that Tyba can help the sector continue its momentum over the next four years and beyond. As he told me, “The overall fundamentals of renewable energy are pretty undeniable.”

Editor’s note: This story has been updated to clarify the description of Tyba’s model.

Green

You’re out of free articles.

Subscribe to access Heatmap’s expert analysis of climate change, clean energy, and sustainability. Save $57 on an annual subscription, just $156 $99/year.
To continue reading
Create a free account or sign in to unlock more free articles.
or
Please enter an email address
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
Sparks

Fervo Is Drilling Wells Deeper, Faster, and Hotter

The enhanced geothermal company just announced a new 19,448-foot well.

A Fervo installation.
Heatmap Illustration/Fervo, Getty Images

Enhanced geothermal company Fervo has drilled another well.

This one is 19,448 feet deep, the company announced Thursday, and includes a 7,500-foot span laterally across the sub-surface. The well — called Sawtooth 7, part of Phase II of its flagship Cape Station project in Milford, Utah — took 21 days to drill, the company said. That matches the time required to drill the wells in Phase I, though the new one is nearly 35% deeper than those, on average, with a 50% greater lateral extension.

Keep reading...Show less
Green
Climate Tech

The Satellites Hunting Wildfires in Real Time

The Earth Fire Alliance is aiming for a constellation of high-resolution sensors that can capture the whole globe every 20 minutes.

A satellite and a forest fire.
Heatmap Illustration/Earth Fire Alliance, Getty Images

Wildfires burn tens of millions of acres worldwide every year, and they’re only becoming more destructive.

For the past few decades, satellites operated by the likes of NASA and NOAA have assisted fire crews in detecting and tracking wildfires in even the most remote, difficult-to-monitor landscapes. But helpful as they are, these systems can’t provide real-time, actionable insights. They typically can’t spot fires until they’ve grown to several acres, for instance. They also only provide an image of the same spot every 12 hours at best, and by the time the data reaches the ground, hours — sometimes days — may have passed.

Keep reading...Show less
Red
AM Briefing

A Global Nuclear Renaissance

On Trump’s mineral paradox, China’s Great Green Wall, and sodium-ion batteries

A reactor under construction.
Heatmap Illustration/Getty Images

Current conditions: After devastating the U.S. island of Rota in the Northern Mariana Islands territory, Super Typhoon Bavi is barreling toward Taiwan with winds of up to 200 miles per hour • Rare tornadoes brought on by storms touched down in China’s Hubei province, leaving 11 dead • Temperatures in Madrid are hovering at around 100 degrees Fahrenheit all week as the Spanish capital roasts in Europe’s latest heat wave.

THE TOP FIVE

1. Oil prices shoot up again as U.S. ceasefire with Iran abruptly ends

Exactly three weeks after President Donald Trump signed a formal memorandum to halt the bombing campaign against Iran that the United States and Israel embarked on nearly five months ago, the war is back on. After Washington accused Tehran of launching missiles at tankers passing through the Strait of Hormuz this week, Trump officially declared the resumption of combat. Speaking Wednesday morning at the NATO summit in Turkey, Trump called the Iranian regime “scum,” “sick people,” and “vicious, violent people” when asked about the peace pact during a press conference. “If they had a nuclear weapon, they’d use it,” Trump said. “So as far as I’m concerned, it’s over.” He spent the rest of the day posting more than a dozen videos and photos on his Truth Social account purportedly showing U.S. missile strikes in Iran. “This is in retribution for yesterday’s bombing of ships by Iran,” Trump wrote in one post. “If it happens again, it will get much worse!”

Keep reading...Show less
Green