SolarBridge has $15 million to help in testing, production

SolarBridge has $15 million to help in testing, production

CHAMPAIGN – SolarBridge Technologies has secured $15 million in Series "B" funding that will help the company finish testing and certification of microinverters and ramp up production of them.

The company – formerly known as SmartSpark Energy Systems – is based in Austin, Texas, but continues to have a research and development office in the University of Illinois Research Park in Champaign.

About 10 work in Champaign, while about 20 work in Austin, said Ron Van Dell, the company's president and chief executive officer.

A new investor, Rho Ventures, led the latest financing round. Battery Ventures, which led Series "A" funding, also participated in the new round.

Money raised will be used, among other things, to expand SolarBridge's operations, sales and marketing teams.

SolarBridge has been developing microinverters that reduce the levelized cost of energy for solar-power installations by improving system reliability, increasing energy production and simplifying installation.

The company's products are expected to include:

  • – Microinverters that convert the direct-current output of solar modules into alternating-current power used in homes and businesses.
  • – A solar information module that collects performance data from the microinverters.
  • – A remote monitoring system that allows system owners to monitor system performance.

Comments embraces discussion of both community and world issues. We welcome you to contribute your ideas, opinions and comments, but we ask that you avoid personal attacks, vulgarity and hate speech. We reserve the right to remove any comment at our discretion, and we will block repeat offenders' accounts. To post comments, you must first be a registered user, and your username will appear with any comment you post. Happy posting.

Login or register to post comments