Yotta Energy – a leading provider of innovative solar+storage solutions – recently announced it raised an $8 million funding round led by Evergy Ventures and with participation from strategic investors BlueScope and Cricetus Felix Ventures, and existing investors Copec WIND Ventures, EDP Ventures, Doral Tech Ventures, and the SWAN Impact Fund. This funding round will help the company scale up manufacturing and accelerate the deployment of its SolarLEAF battery technology.
As the world continues prioritizing sustainability and environmental responsibility, the demand for renewable energy solutions in the commercial building sector experienced exponential growth. And solar energy has become increasingly attractive to businesses looking to reduce their carbon footprint, mitigate energy costs, and improve energy resiliency. Recent data has shown that solar installations on commercial buildings have seen impressive year-over-year growth of more than 30% since 2016, underscoring the immense potential and untapped opportunities in this market segment.
Yotta Energy’s proprietary solar+storage architecture emerged as a game-changer for commercial buildings, addressing one of the most significant challenges in solar energy utilization: intermittency. The company’s energy storage technology is the only system designed to be streamlined and installed alongside solar Photovoltaic systems. Doing so saves significant time on technical design and construction, saving customers up to 40% over energy storage as a separate project. Plus, Yotta is increasingly building up a network of certified developers and installers, including Teylon and E2SOL deploy solar+storage architecture to some notable national retailers.
The company also announced the launch of its new product Yotta Vision. The product is a monitoring platform designed to enhance solar system management. And with its capability to analyze individual solar modules and micro-inverters, it enables remote access to a solar array. Real-time communication, performance issue alerts, Temperature monitoring, and dynamic graphs of solar output empower efficient troubleshooting and optimization, ensuring its clients’ solar investments thrive.
KEY QUOTES:
“We are thrilled to partner with Yotta Energy on their journey to transform the commercial building sector with their innovative solar+storage technology. Yotta’s unique approach to addressing intermittency challenges in solar energy is truly game-changing, and we believe it aligns perfectly with our vision of advancing clean and sustainable energy solutions. We are excited to support Yotta Energy as they expand their commercial deployment and contribute to a greener, more resilient energy future for businesses around the world.”
— Brock Smith, Managing Director at Evergy Ventures
“This new $8 million funding round, reinforces Yotta Energy’s position as a leading player in the solar+storage domain. With the growing interest within this market for solar, ESS and EV Charging, and our recent entry into the GSA Green Proving Ground, a program that will give us access on deploying our technology across government buildings, we think Yotta Energy is exceptionally positioned to deliver not only the best project economics but also deliver this at scale. With Evergy Ventures as our strategic partner, we are confident in our ability to drive positive change and make a lasting impact on the global transition to renewable energy.”
— Omeed Badkoobeh, CEO of Yotta Energy
