Yotta Energy Raises $8m for Solar Tech Expansion
- Yotta Energy closed an USD-8-million fundraising round to expand its solar power and energy storage solutions, led by Evergy Ventures and strategic investors BlueScope, Cricetus Felix Ventures, Copec WIND Ventures and EDP Ventures. Funds to expand manufacturing and deploy battery technology. Yotta Energy solutions incorporate solar, energy and EV charging technology into commercial buildings.
Yotta Energy has closed an USD-8-million fundraising round to expand its solar power and energy storage solutions. The financing was led by Evergy Ventures and included strategic investors BlueScope and Cricetus Felix Ventures, as well as existing backers such as Copec WIND Ventures and EDP Ventures. The funds will be used to expand manufacturing capabilities and speed up the deployment of the company's battery technology. Yotta Energy provides solutions that incorporate solar, energy storage and EV charging technologies into commercial buildings, with a panel-level battery and dual power inverters. CEO Omeed Badkoobeh commented that Yotta Energy is well-positioned to deliver the best project economics at scale.
What Expansion Does Yotta Energy's USD-8m Financing Enable?
- Yotta Energy's USD-8m financing enables them to expand their renewable energy portfolio across the US, providing clean energy growth and new job and investment opportunities.
- The financing enables Yotta Energy to expand their renewable energy portfolio in regions that have not traditionally been served by solar energy.
- Yotta Energy will use the financing to deploy their unique photovoltaic (PV) technologies, which are designed to provide maximum efficiency and cost savings.
- The financing will also enable Yotta Energy to continue to innovate and develop new solar solutions that can help reduce the cost of solar energy and further accelerate the expansion of renewable energy across the US.
- Additionally, Yotta Energy will use the financing to build a strong customer base and increase their presence across the US.