GridStor Secures $220M in Debt Financing

White Tank will store electricity for Arizona Public Service under a 20-year operating agreement. The financing completes the funding package for the 100 MW battery project, which is expected to enter service in the first half of 2027.

Round size
$220M
Stage
White Tank project financing
Headquarters
United States
Announced
Sep 21, 2026

A battery project serving Arizona

The White Tank facility in Maricopa County is planned to deliver 100 MW of power and store 400 MWh of electricity. Its 20-year tolling agreement with Arizona Public Service provides the commercial arrangement for operating the battery around the utility’s needs. GridStor expects service to begin in the first half of 2027.

Closing the project financing

ING Capital, KeyBank and Zions Capital Markets provided the $220 million package of tax-equity bridge, construction and term debt financing. This is financing for the White Tank project, separate from the Gunnar facility funded earlier in the year.

Previous rounds

Undisclosed · $120M

Sources

  1. GridStor: funding announcement
  2. GridStor: BusinessWire release published September21
03 / Related rounds

Related funding rounds

01
Undisclosed · Cloud infrastructure

GMI Cloud

GPU cloud infrastructure and inference services for training and running AI models across the United States and Asia-Pacific.

Led by CTBC
$445M
02
Undisclosed · Real estate

EliseAI

AI software for apartment operators that handles leasing conversations, resident requests, renewals and housing workflows.

Led by Andreessen Horowitz, Bessemer Venture Partners
$350M
03
Undisclosed · Artificial intelligence

General Intuition

AI action and world models trained on gameplay data to predict events and choose actions in virtual and physical environments.

Led by Valor Equity Partners, Atreides Management
$220M