Energy storage / Success case

Getting an integrated energy platform ready for a $100M raise at a $500M valuation

New brand in 7 days. Investor decks for VCs, strategic investors and family offices. Ongoing sales and conference materials.Client details are anonymised at the company’s request.

At a glance

Raising

$100M

At a $500M valuation, from VCs, strategic investors and family offices.

  1. Rebrand7 days
  2. Investor decksThree audiences
  3. $100M raiseIn market
  4. Scale-up100 to 300+ MW

Pipeline

100 MW in the pipeline

Another 200-400 MW in negotiation

New brand

Delivered in 7 days

Identity, guidelines and look-and-feel

Client

Energy platform: batteries, control software and power trading in one system

  • Industrial scale
  • Software-driven revenue

Scope

  • Rebrand in 7 days
  • Teaser deck for VCs
  • Long-form deck for strategics and family offices
  • Sales and conference decks

The challenge: two things in the way

The company had the substance. Two things were in the way.

The brand. Traditional utility blue made a growth company look like an incumbent, and investors price incumbents differently.

The category. Energy storage burned a lot of capital in 2024-2025, so the first ten minutes of every meeting were going to be about risk.

The story: Europe’s energy system, and where the margin is moving

Europe’s energy system is fragmented, slow to build, and dependent on Chinese hardware. Germany logged 573 hours of negative power prices in 2025.

The margin is moving from the hardware to the software that integrates it. That is what the company had built.

What we learned: what fails in energy storage, and what gets funded

Every investor walks in with a list of ways storage companies fail. The ones that get funded look like the opposite.

Why storage companies fail

What gets funded

Reselling hardware they don’t make.Thin margins, full exposure to tariffs and supplier terms.

Platforms that own assets.Assets plus the software that runs them.

Growing on debt against uncontracted revenue.One cancelled project and the loan is due.

Contracted revenue.Predictable enough for lenders to fund 60-70% of project cost.

Scaling every part of the value chain at once.Capex runs ahead of what the company has proven.

A pipeline with a conversion story.Megawatts in the pipeline, and a credible path from 100 to 300.

Software that lives on a slide.Investors price the company as a hardware distributor.

Software revenue on its own line.With its own margin, so investors can price it.

What investors pushed on, and how the deck answers it

Every investor came in with the same list of risks. The deck answers each one.

  1. Hardware exposure.

    The full cost stack per kWh and the margin on top, so the exposure is visible and bounded.

    Deck slide: cost stack per element below 10 cents per kWh, with the margin per kWh
  2. Whether the software is a real business.

    Software and power trading get their own revenue layers per MW, next to the hardware margin.

    Deck slide: stacked revenue layers per MW: hardware margin, software and power trading
  3. Timing.

    The urgency slide shows the grid queue and the storage Europe needs to build by 2030.

    Deck slide: Europe is hitting peak demand for power, but the grid is already broken

What we did: brand, decks and ongoing materials

One narrative across every audience: VCs, strategic investors, family offices, partners and conference stages.

Brand

New brand in 7 days

  1. IdentityReplaced the traditional blue with something that reads as a new company
  2. Guidelines and look-and-feelFor everything that came after

Teaser deck for VCs

Short enough to get the meeting

  • Urgency
  • Moat
  • Team
  • The ask

Long-form deck

Built for diligence by strategic investors and family offices

  • Unit economics
  • Project-level pipeline
  • Partnership structures
  • Revenue stack
  • Downside cases

Sales decks

For capacity and offtake conversations

Sales-partnership decks on the same narrative.

Conference decks

For brand-building

The company on stage, telling the same story.

Ongoing support

Beyond the raise

Sales and conference materials, all on the same narrative.

Results

  • $100M raise at a $500M valuation, live with investors
  • 7 days full rebrand delivered
  • 3 investor audiences in one deck system: VCs, strategics and family offices
  • Ongoing sales and conference materials

The investor deck

Slides sanitized at the client’s request.

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Raising for energy infrastructure?

Waveup builds the brand, the story and the materials to raise.

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