TERIC Power lands growth equity from ARC Financial to scale battery storage

What's the deal? ARC FinancialDealroom has a profile for this one. Try Dealroom → Corp., Canada's largest energy-focused private equity manager, has made a strategic growth equity investment in Calgary's TERIC PowerDealroom has a profile for this one. Try Dealroom →.

The capital will help TERIC develop, build, and own utility-scale battery energy storage systems across Canada. Transaction terms were not disclosed.

Founded in 2013, TERIC has built roughly 135MW of battery storage assets and led many of Alberta's first utility-scale projects.

Why now? Demand for grid reliability, renewable integration, and flexible power is climbing fast as electricity systems evolve.

"Energy storage is becoming a foundational component of the modern grid," said Kevin Gilbank, co-founder and chief executive officer of TERIC.

ARC's backing lets the company accelerate its project pipeline and expand across Western Canada.

What could go wrong? Utility-scale storage hinges on long development timelines, regulatory approvals, and shifting electricity markets.

Leadership transitions add uncertainty: ARC's Peter Christopher and former Alberta Electric System Operator chief Mike Law join TERIC's board, while Ross Keating retires.

The signal: The deal sees Canada's largest energy-focused private equity manager backing an early-stage developer at the moment storage shifts from pioneering bets to grid infrastructure. With early backer Idea Well Capital PartnersDealroom has a profile for this one. Try Dealroom → exiting, the round captures a maturing market where first movers cash out and institutional capital scales the next phase.

Image credit: Oran Viriyincy