US-based Bluesphere Ventures Inc. announced it has presold three of its battery energy storage sites in New York City's Zone J, with the deliverable on each being full development through to Notice to Proceed (NTP).

Under the agreements, Bluesphere and its co-development partners will develop each site through to NTP.

The three sites form part of a development pipeline now totalling approximately 1 GW of capacity across the company's target markets, where Bluesphere is developing standalone, front-of-meter storage projects positioned to participate in virtual power plant and grid-services markets.

Concurrently, the company announced it has filed to change its name to Sphere Power Corp., reflecting a transition completed over the past two years. Founded as a venture studio and early-stage venture capital firm in the clean finance and technology sector, the company has since refocused its operations entirely on the development of virtual power plants and independent energy production. 

"This transaction validates both our pipeline and our model," said Eddie Soleymani, CEO. "Over the last two years, we've shifted from backing clean energy companies to building the infrastructure ourselves — taking sites from origination through to NTP, repeatedly and at scale. Each project we complete strengthens our ability to develop the next, turning a pipeline into an engine. Filing for our name change to Sphere Power Corp. marks that transition as complete."

The announcements come as demand for electricity enters a period of sustained, structural growth. While artificial intelligence and data centre expansion have drawn significant attention as drivers of new electricity demand, the broader shift toward electrification — across transportation, heating, and industry — points to demand growth that extends well beyond any single sector. Energy storage and virtual power plants sit at the centre of that shift, providing the flexibility and dispatchable capacity an electrified grid requires.

"If there is one certainty about the future, it is that the world will need more electricity — and the demand from AI, as large as it is, will prove to be only one part of a far greater whole," added Shidan Gouran, Chairman. "The companies that build and command grid infrastructure in this decade will hold the position the railroad builders held a century ago in theirs. Sphere Power intends to be among them."

By presold, the company means each site's development through to NTP is contracted and committed in advance, secured under a binding agreement rather than built on speculation.

About Sphere Power Corp. (formerly Bluesphere Ventures Inc.)

Sphere Power Corp. is a developer of virtual power plants and independent energy production, advancing a pipeline of approximately 1 GW of battery energy storage and grid-services projects. The company develops standalone, front-of-meter storage sites — alongside its co-development partners — from origination through Notice to Proceed (NTP). More information is available at https://spherepower.com.

Media Contact:
Sphere Power Corp.
[email protected]

This press release may contain forward-looking statements regarding the company's development pipeline, name change, and market outlook. Actual results may differ materially. Forward-looking statements speak only as of the date made, and the company undertakes no obligation to update them except as required by law.