Mainspring Announces Deal with Lineage Logistics to Deploy up to 150 Mainspring Linear Generators; Raises Over $150 Million in Series E Round
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Tuesday, May 24, 2022
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MENLO PARK, Calif., May 24, 2022 /PRNewswire/ -- Onsite power generation provider Mainspring Energy Inc. today announced that Lineage Logistics, the world's largest temperature-controlled industrial REIT and logistics solutions provider, has signed an agreement to deploy up to 150 Mainspring Linear Generators across its network of distribution facilities in the United States. The two companies also will explore the deployment of Mainspring units outside the United States and the use of 100% green fuels to power the fuel-flexible Mainspring products.
Key Points:
- Lineage Logistics, the world's largest temperature-controlled industrial REIT and logistics solutions provider, will deploy up to 150 Mainspring Linear Generators and explore the use of 100% green fuels to power the fuel-flexible Mainspring products.
- Mainspring will use the funds to develop new linear generator models and to accelerate the commercial, industrial, datacenter and utility adoption of Mainspring Linear Generators producing zero-carbon electricity.
- With the new agreement, Lineage commits to a complete evaluation in 2022 for the next 50 sites for linear generator deployment.
- Customers include Fortune 500 companies like Kroger and Lineage Logistics, as well as utilities like PG&E, Florida Power and Light, and others.