GridPoint, an energy data management platform serving commercial real estate, announced that co-founder Adrian De Luca has returned as CEO to launch a new battery storage business. The company plans to deploy on-site batteries across its platform of more than 20,000 U.S. commercial sites, targeting 2 gigawatts of distributed storage capacity.
De Luca previously served as a principal at I Squared Capital, a global infrastructure investment firm with $60 billion in assets under management. He has worked with GridPoint since its founding in late 2003 and served as a board adviser before this appointment.
The company said commercial electricity rates rose 42 percent across its sites over the past five years. De Luca cited falling battery input costs, clearer visibility on investment tax credits and their transferability, and continued inflation in commercial energy prices as reasons the market is now ready for GridPoint's batteries.
GridPoint will offer batteries on a subscription basis, bundled with hardware, installation, and energy efficiency services as a monthly fee. De Luca said customers will see higher energy savings reflected in their bills than the subscription cost, making the value "accretive from day one."
The expansion comes as U.S. electricity demand is on track to set records in 2026 and 2027, driven largely by data centers and advanced manufacturing growth, according to a July 2026 U.S. Energy Information Administration report.