TS Conductor, a U.S.-based manufacturer of advanced electric power lines, closed a $60 million growth investment round led by Wellington Management. The funds will be used to open a second U.S. production facility, which is part of the company’s plan to greatly increase production of its high-performance conductors in response to strong customer demand.
The oversubscribed investment round also included Quanta Services, Gates Frontier, Energy & Environment Investment, Blue Earth Capital and Edison International, and repeat investors National Grid Partners, Breakthrough Energy Ventures and a subsidiary of NextEra Energy Resources.
“The electric grid is the backbone of our clean energy future, and it urgently needs a 21st-century upgrade,” Jason Huang, CEO of TS Conductor, said. “We’re deeply grateful for the support of industry-leading investors who recognize the potential of our advanced conductor technology. With this funding round, we’re scaling up production to put our proven solution into the hands of utilities faster.”
“Decarbonizing the energy sector hinges on resolving electric grid bottlenecks, and we believe TS Conductor’s technology unlocks cost-effective and fast capacity additions,” Michael DeLucia, sector lead for climate investing at Wellington Management, said. “We are looking forward to supporting the company’s journey toward scaling advanced conductor deployment to address these critical issues.”
TS Conductor is expanding its production capacity. The company’s existing ISO-certified facility in Southern California is operating at near-full capacity, and plans are under consideration to increase this facility’s output in the near term. The bulk of this funding round, however, will support an ambitious expansion east of the Mississippi River.
