Distributed Sun Spins-Off truCurrent with $37.5 Million Funding

to deploy next-generation power plants to the grid edge

WASHINGTON, Aug. 20, 2024 /PRNewswire/ -- Today, Distributed Sun (DSUN) announces $37.5 million of new working capital to spin-out and ramp operations of its New Energy Investment Company (NEIC), truCurrent. Standing atop 15 years of best practice leadership, business model innovation and proven, consistent asset yield performance, truCurrent offers Fortune 1000 companies – large fleet and facility operators – the know-how to make and execute better energy choices, mitigate operating and financial risks, and realize best-value, bottom-line rewards from smart energy transitions.

"We build better roadmaps so our partners can navigate smarter roadtrips to their intended energy destinations. The results are carbon and cost savings, energy choice and load flexibility for our customers," says Chase Weir, CEO of DSUN and truCurrent. "We design enterprise-wide when deploying new energy asset infrastructure. Our solutions create, and extract, superior value by delivering the right combination of on- and off-site distributed energy resources to optimize carbon usage, cost and competitive advantages for our clients." truCurrent balances the goals and needs of customers' core functions including fleet and facility operations, finance and treasury, real-estate and construction, corporate leadership, sustainability, governance, and transformation – as well as those of their shareholders.

truCurrent designs roadmaps that simplify decision-making and drive the implementation of on-time and on-budget deployments to active operating sites. At the heart of the roadmaps is a deep understanding of the ways in which new energy asset technologies pose different integration and operational risks, and have different use-cases, useful lives, performance profiles, operating requirements and more. To facilitate cost-effective and tax-efficient capital expenditures truCurrent manages the complex patchwork of state, local and federal frameworks across the U.S.

Utilities stand to make significant gains alongside their largest customers as truCurrent smart microgrid and virtual power controls are deployed with new generation storage and load assets to the distribution grid edge. "We engage with utilities early in the process to provide visibility into the needs of their largest customers. We show how our investments help accelerate shared goals – reducing carbon intensity for the customer and the grid, increasing revenues while optimizing energy costs, providing grid services, and investing in the resiliency of their grids, all while allocating capital more efficiently," says Jeff Weiss, Executive Chairman of DSUN and truCurrent.

In Q4, truCurrent will announce new strategic capital and F1000 partnerships, and its new executive leadership team members. In recent weeks, the company has onboarded chief commercial and transformation officers, a chief of staff, and finance, policy, development, delivery, engineering and product development veterans, with a chief financial officer and more joining later in 2024. Incubated since 2022, and officially launched in 2024, the business operates as a separate entity – with independent treasury, capital accounts, intellectual property, service offerings, governance and staff.

About truCurrent
For more information about the company's initiatives, services, and career opportunities, please visit www.trucurrent.com.
About Distributed Sun
For more information about the company's initiatives, services, and career opportunities, please visit distributedsun.com.

For more information:
[email protected]

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SOURCE Distributed Sun