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NineDot Lands Carlyle Funding for New York Battery Initiatives

NineDot Lands Carlyle Funding for New York Battery Initiatives

David Arfin, a pioneer of rooftop solar energy within the U.S., is creating a dozen basketball court-sized electrical battery websites in New York Metropolis with a latest funding from Carlyle Group Inc.

Carlyle purchased a stake in Mr. Arfin’s firm, NineDot Power, because it expands into the marketplace for large-scale electrical energy storage, a rising space of curiosity for cash managers. The private-equity big spent over $100 million in December on separate investments in NineDot and Fermata Power, a provider of know-how for parked electrical automobiles to pump energy from their batteries into native electrical energy grids.

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