Yotta Energy Raises $13 Mn for its Distributed Solar + Storage Projects
As a world-wide energy shortage is poised to hit the U.S. this winter, Yotta Energy has raised $13 million to scale its unique, modular energy storage and microgrid technology, specifically designed to transform buildings into self-generating power plants.
November 03, 2021. By News Bureau
Led by WIND Ventures, the Series A round also includes follow-on investors Doral Energy-Tech Ventures, Riverstone Ventures, and returning investors, EDP Ventures, and SWAN Impact Network.
Overall, the funding will allow Yotta Energy to expand product deployments in the U.S. and Latin America, increase company employment, open up energy generation revenue for commercial flat-roof buildings, and help North and South America meet decarbonization goals.
The round brings the company’s total funding to $20 million.
“Commercial solar and storage technology has the potential to completely transform energy markets, especially in the U.S. and Latin America,” said Brian Walsh, Head of WIND Ventures.
Unlike the large, bulky batteries available, Yotta’s flagship product, the SolarLeaf, is a distributed battery solution installed under individual solar panels.
Similar to the distributed architecture of microinverters, Yotta’s module-level battery uses Lithium-Iron-Phosphate chemistry, one of the safest battery chemistries available, and is typically installed with three feet of spacing between each unit. Each battery has a 1 kWh nominal capacity, with an ideal system size of up to 1 megawatt-hour per scaled system.
The SolarLeaf is designed to meet and exceed the strictest safety regulations for integrating energy storage into the built environment.
“The C&I market is poised for tremendous growth, and we’re ready to help businesses future-proof their buildings with the rollout of distributed renewable energy resources,” said Omeed Badkoobeh, CEO and Co-founder of Yotta Energy.
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