Enteligent, a developer of solar-powered DC-to-DC chargers for electric vehicles (EVs), announced it has raised $6 million in funding from investors to scale the commercialization of its photovoltaic (PV) module-level power optimizers and its DC-to-DC based bi-directional EV chargers. This funding round was led by Taronga Ventures. This recent funding round brings the company’s total fundraising to $19 million since 2021, with historical investment from NOVA, an affiliate of global building materials company Saint-Gobain.
Enteligent was picked by Taronga Ventures’ program arm, RealTechX, as one of 12 companies internationally to participate in its ESG Impact program in 2023, whose program partners included APG, CapitaLand, CBRE, Dexus, International Towers, ISPT, Ivanhoé Cambridge, PGIM Real Estate and Vicinity Centres. Through the program, Enteligent worked to further refine its ESG positioning for the real asset sector. And Enteligent is supplying the world’s first long-dwell-time 25kW DC-to-DC EV charger to a large logistics company to power its newly electrified delivery fleet.
Along with its 25kW DC-to-DC fleet charging platform, Enteligent is pre-selling its solar-powered TLCEV T1 EVSE – which is running directly from the sun and provides convenient and affordable daytime charging directly from on-site solar generation. This approach fosters a fundamental shift in energy consumption habits so solar power could be used to charge where it is generated. The DC-coupled charger delivers up to 12.5 kW of fast DC charging – which is twice as fast as many AC Level 2 EV chargers. This model and other Enteligent DC-to-DC EV chargers eliminate the unnecessary DC-to-AC-to-DC conversion losses of AC-powered EVSEs, resulting in up to 20% energy savings.
Enteligent’s NMax PV module power optimizers with rapid shutdown safety capabilities ensures each panel operates at maximum output continuously. And Enteligent offers the only module-level power electronic (MLPE) to provide rapid shutdown device (RSD) capabilities and panel-level performance data over PLC, yielding an average of 10% higher electricity yield from typical rooftop solar installations. Plus, solar inverter suppliers integrating Enteligent’s NMax PV module-level optimizers as a branded package, qualify for the full Inflation Reduction Act (IRA) Manufacturing Tax Credit (45X MPTC).
KEY QUOTES:
“Enteligent’s technology sets a new standard in maximizing solar energy efficiency. Their holistic approach to solar power optimization offers practical solutions with real-world applications that meet the needs of global real asset owners and operators. Together, we can significantly advance decarbonization efforts for real assets.”
- Jonathan Hannam, Managing Partner at Taronga Ventures
“Our mission is to drive a paradigm shift in energy consumption habits by leveraging abundant solar power and our innovative technology to facilitate society’s transition to electrification. Having an industry leader such as Taronga Ventures as our lead investor is a significant endorsement of our technology.”
• ⁃ Sean Burke, Enteligent CEO and co-founder
