SolarBridge Grabs $17M in Venture Captial
SolarBridge, an aspirant in the growing photovoltaic microinvertersector, just raised a $19 million C round from existing investors RhoVentures and Battery Ventures. There were also two unnamed new investors in the most recent round, one financial and one strategic, according to the firm. The company has raised more than $46 million to date.
SolarBridge’s microinverter has been developed to mount directly onto solar modules rather than as a stand-alone unit and boasts a 25-year warranty. The Austin-based startup has development partnerships with module manufacturers Hanwa Solar One, Kyocera, and SunPower.
SolarBridge recently started production of their microinverter with Celestica in Dongguan, China and added some strength to its board. In a recent conversation with the CEO, Ron Van Dell, he stressed thatSolarBridge’s technology is not really a microinverter; it’s an ACmodule (ACM). The firm is not selling the microinverter by itself butrather is engaging in strategic partnering. The CEO cited the bankability of an ACM from SolarBridge and an established module maker.
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