Rising demand has Viridi Parente building up inventory. The Buffalo battery-storage manufacturer is investing $20 million in inventory to keep pace with customer demand.
The investment, reported by The Buffalo News, comes as Viridi Parente positions itself for growth. The company was on track to double revenue in 2026, according to the same report.
Viridi Parente was founded by Jon Williams.
Viridi Parente employs about 100 people at a 42-acre facility, the former home of a General Motors and American Axle & Manufacturing plant.
From Erie County Pumping Stations to a $430 Million Pipeline
Viridi Parente makes battery and power-storage products, including batteries for heavy equipment, and has a facility in Richmond, California. The company has also been involved in a National Grid pilot.
Closer to home, Viridi Parente and real estate developer Good Carbon Co. installed a large battery system at the Peace Bridge Apartments, which Good Carbon Co. is renovating in Buffalo. That installation is a 3.75-megawatt-hour lithium-ion system distributed across seven indoor battery rooms, according to Environment + Energy Leader. Separately, the Peace Bridge Place project participates in a seasonal demand-response pilot with National Grid, backed by the New York State Energy Research and Development Authority, and residents can opt out of individual events, the outlet reports. Neither the total project cost nor the projected savings, financing terms or payback period for that installation has been disclosed.
Battery Production Capacity Expands
The company's annual battery-production capacity is approximately 400 megawatt-hours, with room to expand, per Environment + Energy Leader. That capacity question has loomed over the company before: earlier Buffalo News reporting described the East Delavan Avenue site as potentially growing into a hub for more than 600 clean-energy and battery-storage workers, at a time when the company had 120 employees and was aiming for 200 by year's end.
The company has leaned on outside capital to fund its ambitions. Grand Oaks Capital, the investment firm founded by B. Thomas Golisano, put $20 million into Viridi Parente as part of a $29 million Series B round, according to a statement from Viridi Parente.
Battery Manufacturing Picks Up Elsewhere in Upstate New York
In Binghamton, CMP Advanced Mechanical Solutions is pursuing a modernization of its battery facility, backed by an $850,000 capital grant from Empire State Development, according to the Press & Sun-Bulletin. The project is meant to let the company manufacture most of its battery-storage components and sub-assemblies in Binghamton.
Together, Viridi Parente's inventory investment and CMP's Binghamton modernization reflect efforts to expand battery manufacturing capacity in upstate New York, while Viridi Parente's $20 million inventory investment is rooted in demand for its products.
