Carmichael Roberts
Terabase Energy has obtained a $44 million Series B financing co-led by Breakthrough Energy Ventures and Prelude Ventures with further participation by SJF Ventures and different present buyers. The spherical brings Terabase’s complete funding to $52 million and might be used to assist the corporate’s mission to cut back the price and enhance the scalability of solar by constructing a digital and robotic automation platform for the event, development and operation of utility-scale photovoltaic (PV) power crops.
“In recent years, the solar industry has been focused on technological improvements of solar panels and other hardware components while the means and methods of engineering and construction have been largely unchanged,” says Carmichael Roberts of Breakthrough Energy Ventures. “The way the industry designs and builds large scale projects needs to be rethought if we are to reach the very rapid growth required to meet net-zero goals. To enable the TW-scale deployment of solar needed to decarbonize, we believe a breakthrough is needed to transform how PV power plants are built. Terabase’s solution has tremendous potential to reduce costs and accelerate the deployment of large scale solar, and we look forward to working with them on that mission.”
Terabase has constructed a digital platform for managing the total venture life cycle of utility-scale solar and mixed it with a development automation system to rework the best way solar power crops are deployed. Terabase’s automated field-factory, able to 24/7 operations, can considerably compress development schedules and cut back prices whereas making certain larger construct high quality. The robotics-assisted workflow may even enhance employee well being and security by eliminating handbook lifting of heavy panels and metal elements below typically troublesome out of doors climate situations.
“This investment is validation of our vision for rapidly deploying solar at the TW scale,” states Matt Campbell, co-founder and CEO of Terabase Energy. “It took 50 years for the world to build the first TW of solar, but we need at least 50 additional TW built as quickly as possible to meet global decarbonization targets. This round of funding will allow us to continue to expand our team and make the investments necessary to achieve our mission.”
Terabase is working alongside venture builders, homeowners, and engineering and development companies to assist the design, optimization and deployment of large-scale solar tasks world wide. The new spherical of financing will allow full business deployment of the corporate’s built-in resolution in 2023; it comes shortly after Terabase introduced its first business venture, a big deployment of robotics in solar plant development.
“Terabase’s software and automation platform allows for developers and EPCs to effectively design and manage their projects from the point of land acquisition to rapid and high-quality construction through automation,” provides Tim Woodward, managing director of Prelude Ventures. “This is an essential solution for solar to get to Gigawatt-scale projects around the world.”
“Our only hope to truly solve the climate crisis is to deploy clean technologies at a much larger scale to reach different areas of the economy than before,” concludes Sheldon Kimber, CEO of Intersect Power, a Terabase buyer. “The Terabase platform is an exciting innovation to deploy more solar faster and we are delighted to be a Terabase partner.”
