Venture Capital: Terabase Energy Raises $44M For Automating The Construction Of Utility Scale Solar

August 5, 2022 | News, Venture Capital

Terabase has built the first digital platform for managing the full project life cycle of utility-scale solar and combined it with a construction automation system.

Breakthrough Energy Ventures and Prelude Ventures co-led Terabase Energy’s $44 million Series B financing round. SJF Ventures and other existing investors also participated. The funding will advance the company’s digital and robotic automation platform for the development, construction, and operation of utility-scale PV power plants. (CISION PR NEWSWIRE)

The construction of utility scale solar plants will be significantly expedited using Terabase’s automated field-factory, capable of 24/7 operations, along with a digital platform for managing the full project life cycle. The new round of financing will enable full commercial deployment of this integrated solution in 2023.

Three months ago, Terabase announced the first commercial deployment of its Terafab automated construction system for solar power plants.

“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. 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,” said Carmichael Roberts, Breakthrough Energy Ventures. “To enable the Terawatt-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.”

Tim Woodward, Managing Director of Prelude Ventures added, “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. This is an essential solution for solar to get to Gigawatt-scale projects around the world.”

Related Story: Solar Energy Provider Sun King Raises $260M

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: Ripple Labs Eyeing Pieces Of Celsius In Bankruptcy Wreckage
August 10, 2022     Digital Assets, News

Ripple Labs, the blockchain payments company that created the XRP cryptocurrency, is interested in purchasing assets of Celsius Network, the crypto lender that was forced into bankruptcy amidst the meltdown…
FinTech: German Bank Nuri Files For Insolvency Amidst Macro Environment And Crypto Bear Market
August 10, 2022     Digital Assets, FinTech, News

Nuri, a digital banking platform and app, offered users crypto transactions as well as normal banking activities including a debit card. The firm announced it had filed for insolvency on…
Artificial Intelligence: AI Robot TX SCARA To Debut In 300 FamilyMart Stores In Japan
August 10, 2022     Artificial Intelligence, Latest News, News

Telexistence Inc., the Japanese robotics company, announced the launch of its TX SCARA restocking robots in 300 FamilyMart convenience stores in Japan later this month as part of its AI-based…–-Splash.png
Alternative Investments/Digital: GraniteShares Launches The First Coinbase Leveraged ETF
August 10, 2022     Alternative Investments, News

US ETF issuer GraniteShares, which first launched leveraged ETFs on single stocks in the UK in 2019, and now offers 106 such products across Europe, has listed a suite of…