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
Alternative Investments/ESG: Six New Responsible Funds Flag Off Morgan Stanley’s ETF Platform

Morgan Stanley Investment Management (MSIM) has launched its ETF platform with six Calvert ETFs listed on NYSE Arca. The ETFs feature Calvert’s responsible investing approach and offer access to four…
Artificial Intelligence: MusicLM, A New Generative AI Tool From Google, Creates Music From Text
February 2, 2023     Artificial Intelligence, News

Google (NASDAQ: GOOGL) recently published a research paper on its new AI tool, MusicLM, designed to create music. The tool is based on machine learning and is trained on vast…
Artificial Intelligence: Snap Mulling AR Glasses Powered By Generative AI
February 2, 2023     Artificial Intelligence, News

Snap (NYSE: SNAP), the parent company of Snapchat, has hinted at future AR glasses powered by generative AI technology. CEO Evan Spiegel stated that AI will be critical to the…
Digital Assets: Binance And Mastercard Launch Prepaid Crypto Card In Brazil
February 1, 2023     Digital Assets, News

Binance and Mastercard (NYSE: MA) have jointly launched the Binance Card in Brazil, allowing Binance users in the country to make purchases and pay bills with cryptocurrencies like bitcoin and…