Smart home energy startup dcbel announced today that it has raised $50 million, with proceeds from the Series B funding round aimed at accelerating the delivery of its bidirectional residential charging solution, Home Energy Station.

Founded in 2015, Montreal-based dcbel provides solutions enabling homeowners to leverage renewable energy assets such as solar panels, batteries and electric vehicles to avoid blackouts, and save money during energy price peaks. The company’s r16 Home Energy Station enables bidirectional EV charging allowing an EV to use its battery as a backup energy source for the home, converts solar energy to electricity, and learns from a home’s historical energy consumption to predict energy needs and source clean electricity at the lowest cost.

Marc-Andre Forget, CEO of dcbel, said:

“This funding positions our company to accelerate our growth and is a testament to the strength of our team, product and traction. We are proud of bringing to market a sustainable solution to accelerate the energy transition and give homeowners control over their energy.”

The funding round was led by energy transition-focused investor Idealist Capital, with participation from Quebec financing corporation Investissement Québec. Pierre Larochelle, Co-Managing Partner of Idealist Capital, will join dcbel’s Board of Directors.

Larochelle said:

“For over a decade, I have focused on climate impact investments in the renewable energy and storage, energy efficiency and electrification sectors. dcbel sits at the nexus of all these industries, representing a truly exciting opportunity to change the way we think about home energy. I am honored to join dcbel’s board as the company brings its innovations to market.”