Bill Gates fund purchases automated solar installation platform Terabase
- Terabase Energy, a United States startup that gives software, automation and electronic deployment remedies, has increased USD 44 million (EUR 43m) in a financing round led by Bill Gates' Breakthrough Energy Ventures to commercialise its innovation for automated solar plant construction.
Besides Bill Gates' multi-billion dollar clean energy fund, the Series B financing effort was co-led by venture capital company Prelude Ventures and also backed by Terabase's existing capitalist SJF Ventures and also others.
Terabase will designate the fresh capital to scale up its proprietary digital and also robotic automation platform and achieve complete commercial release next year. The solution, which the technology company says is the first among its kind, automates the advancement, building and also operation of large-scale solar parks. The platform manages the entire project lifecycle from the point of land acquisition to plant construction, through robotics-assisted operations.
"Terabase's remedy has incredible potential to minimize costs as well as accelerate the release of large scale solar, as well as we anticipate working with them on that mission," stated Carmichael Roberts, co-leader of the investment committee at Breakthrough Energy Ventures.
The most up to date fundraising brings the overall amount of capital safeguarded by Terabase to USD 52 million. Three months earlier, the firm finished its first commercial deployment of robots to install First Solar panels with its Terafab system.
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