The Globe and Mail reports in its Wednesday edition that Ontario Teachers' Pension Plan is leading a $95-million (U.S.) financing round for Instagrid GmbH, a German maker of portable battery systems designed to replace gas-powered generators. The Globe's James Bradshaw writes that Teachers' Venture Growth (TVG) is the lead investor in Instagrid's Series C financing round and gains a seat on the company's board. Instagrid also attracted an investment from Morgan Stanley Investment Management through its climate-focused private equity fund, 1GT. Instagrid sells its main product in 29 countries, primarily in Europe. It is a portable battery system that promises a cleaner alternative to generators that burn fossil fuels, widely used on construction sites and film sets and by emergency services. Instagrid's existing customers include Swedish-based construction giant Skanska AB, Swiss Federal Railways and the Red Cross. In addition, Instagrid was chosen to join an initiative financed by Disney and Netflix to replace diesel generators on film and television sets. The company is preparing to launch a larger-scale product that it claims could power entire construction sites or film sets, with no emissions.
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