NineDot Energy, a rapidly expanding developer of community-accessible clean energy projects in NYC, has secured $85M to fund the completion of 11 new battery storage facilities that will provide renewable energy to existing grid infrastructure during peak demand,

Funding for the renewable energy storage facilities—which will be located in The Bronx, Staten Island, Queens and Long Island—was provided by CIT, an energy-focused division of Citizens Bank, and SMBC, a Japan-based global banking and financial services firm.

"Four months ago, we unveiled our first-of-its-kind battery storage site in the Bronx. With this [project financing], we will accelerate the growth of our community energy pipeline and implementation, bringing the benefits of distributed, local battery storage solutions to the broadest range of organizations and communities in the New York City region." said NineDot Energy CEO David Arfin, in a statement.