The ARENA grant of $2.5M was on condition that Pooled Energy’s shareholders contribute a matching amount. They have, and in style.

In a fund-raising commenced late in 2017, shareholders, which now include 30 pool owning customers, who are clearly delighted with their pools and energy savings, contributed not just $2.5M but $3.9M.

These funds will be spent on improving the technology, doing the ARENA trials and ramping the number of pool owners to ~5,000 so that Pooled Energy is managing sufficient electricity demand to make the trials meaningful.