On August 24, 2022, Lunar Energy, a California-based start-up dedicated to delivering home electrification, emerged from stealth mode having successfully raised over $300 million in two rounds of funding led by Sunrun and South Korea's SK Group. Lunar Energy also acquired Moixa, the leading global software company for distributed energy resources (DER) management. In addition, ITOCHU and Honda, previous investors in Moixa, joined Lunar Energy's team of investors. Wilson Sonsini Goodrich & Rosati represented Lunar Energy in the financings, the acquisition, technology transactions, and general corporate matters.
The capital raised has been used to hire great talent, acquire Moixa, and invest in product development and manufacturing activities in order to bring Lunar Energy's first product to market later this year. Lunar Energy was founded in 2020 with a mission to transition homes worldwide to 100 percent clean energy. The company has built a team of nearly 250 employees globally and the team is designing and engineering clean energy products to electrify all homes and connect communities to form clean, resilient virtual power plants.
Lunar Energy's acquisition of Moixa will combine revolutionary new hardware with the proven GridShare™ software that manages the thousands of batteries across Europe and Japan. Currently, GridShare software—now Lunar Gridshare™—is deployed at scale across 35,000 homes (330MWh of batteries) via ITOCHU in Japan, supports advanced smart charging services for Honda electric vehicles, and facilitated UPS's transition to electric vehicle fleets in the UK.
The Wilson Sonsini team supporting Lunar Energy includes:
Energy and Climate Solutions
Scott Zimmermann
Elina Coss
Ira Palgon
Corporate
Brady Berg
Virginia Harris
Kristy Strohm
Mergers & Acquisitions
Rich Mullen
Brian Chan
Ryan Cooper
Technology Transactions
Manja Sachet
John McGaraghan
Shivang Patel
Kristina Wang
Privacy and Cybersecurity
Matt Staples
Michael O'Brien
Daniel Chen
Tax
Greg Broome
Employee Benefits
Michael Montfort
Greg Hughes
Employment
Rebecca Stuart
Heather Diles
Trademark
Aaron Hendelman
Chelsea Carbone
Litigation
Eli Richlin
Tait Graves
For more information, please see Lunar Energy's news release. Additional coverage can be found on Bloomberg, Crunchbase, and Canary Media.