At Orison, we are excited as we draw close to rolling out our products to market this year. One of our recent accomplishments, among many others, has been closing an $8.5M seed round. One of our largest investors is Origin Energy, a leading energy company in Australia with more than four million electricity and gas customers.
Orison storage is the first ever self-installable home battery system that is shipped directly to the door of each customer. Orison delivers a low priced, modular energy solution for backup power and lower energy costs to energy consumers everywhere – whether you get your energy from the grid or from solar, rent or own. Our product offerings are stylish and low profile. The storage units are designed to be easy to install by simply plugging them in to a wall receptacle. It truly is groundbreaking technology.
We have secured 1K plus global customers via deposits or waitlist for several thousand units representing $5M in revenue. In addition to closing our seed round, Orison has also secured a signed MOU for up to 4,000 units worth $8M with Origin Energy. We are targeting customer rollout for those units by early 2021. In May 2020, Orison cleared a major hurdle to being market ready as we passed regulatory approval and third party testing for our product to be approved as an internal appliance. This means that the Orison Panel design and construction is compliant with the required international standard (IEC 62040-1) and the associated reference standards (e.g. IEC 62477-1). The Orison Battery Modules received UL and UN3480 approval in early January 2020. Next up is testing units in our initial three major markets before launching product in Q4 of THIS year. Orison has received six national awards, including most recently the DOE’s American Made Solar Prize.
Consider partnering with us and be a part of what Orison is doing to make a difference in communities worldwide. Please see our Fundable campaign, be in touch and we will get back to you.