Software firm Clir Renewables elevates US$ 22.4 m to target Europe and North America

Jun 1, 2021 04:09 PM ET
  • Renewable energy software firm Clir Renewables has actually increased CAD$ 27 million (US$ 22.4 million) to expand its organization operations in Europe as well as North America.
Software firm Clir Renewables elevates US$ 22.4 m to target Europe and North America
Image: Solarcentury

Clir raised the funds from six capitalists consisting of Canada Pension Plan Investment Board (CPP Investments) during its Series B funding round, co-led by Longbow Capital Inc. as well as ArcTern Ventures.

Chief executive Gareth Brown claimed he was "delighted" with the outcome of the investment round, which clever technology as well as data evaluation will be "at the core of the effective development of renewables".

The Vancouver-based firm will utilize the investment to establish its smart technology offering, which includes a cloud-based artificial intelligence (AI) platform that optimises renewable resource properties at various phases of their life cycle.

In addition, Clir will likewise develop its service operations in core markets such as Europe as well as North America, as well as growing its visibility in emerging markets in Latin America, Africa as well as Asia-Pacific.

"With the possibility for such far-flung impacts on every element of an eco-friendly property's success, it's vital that information is 'done right' and also the subsequent evaluation communicated efficiently every single time," Brown stated.

The monetary close comes equally as self-confidence appears to be growing in the solar market's capacity for substantial gains this year. Simply under two thirds (64%) of market insiders evaluated by the Global Solar Council (GSC) previously this year said they expect dual number sales growth in 2021.