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

August 5, 2022 | News, Venture Capital
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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

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