Yotta Energy — the company pioneering PV module-level battery storage — has raised another $13 million to scale its C&I-focused energy storage and microgrid technology (now $20 million in total funding). Overall, the funding will allow Yotta Energy to expand product deployments in the U.S. and Latin America.
“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, which led the Series A round. “Yotta’s technology represents a better, more affordable solution for growing this commercial and industrial segment on a global scale with seamless renewable energy integration that turns both existing and future buildings into distributed power plants.”
Follow-on investors Doral Energy-Tech Ventures, Riverstone Ventures, and returning investors, EDP Ventures, and SWAN Impact Network.
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.
“Yotta’s storage technology revolutionizes renewable projects and transforms the commercial and industrial markets with the first truly integrated solar and storage solution,” said Roee Furman, Managing Director for Doral Energy-Tech Ventures. “The company’s distributed PV-Coupled architecture transforms solar and storage installations with a dramatic cost reduction, ease of use, and elegant product design. After reviewing dozens of storage solutions, we chose Yotta for growth and taking the lead in this segment, with various installed projects and commercially ready products.”
Yotta’s technology is designed specifically for flat roofs and can act as “ballast” to anchor some PV racking systems. It can store excess renewable energy on-site and act as a revenue generator by selling power back to the grid. Yotta’s PV-Coupled solution removes the high costs of bulky container systems, utilizes thermal management to keep batteries cool, offers location engineering design, and streamlines permitting, all of which can negate the potential economic benefits of running a business on renewable energy. The smaller footprint and scalable format maximize battery life and performance under extreme temperature conditions. Users can scale at any time to increase energy generation and storage as businesses grow, ultimately giving customers the flexibility to expand their sustainability initiatives and control their energy.
“Yotta’s unique technology is seamless and easy to install on flat-roof buildings, making it an ideal solution for improving distributed energy economics and grid reliability,” said EDP Executive Director Luis Manuel. “We have seen the company show significant progress in the past months, and we’re happy to continue as a follow-on investor into the Series A Round.”
“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. “As we see the effects of the global power shortage emerge, we have thousands of flat-roof buildings that can address both the shortage and zero-emission goals worldwide. We greatly value our team of investors for helping us scale Yotta’s technology even further into the Americas.”
With deployments across several states, including California and Texas, and pilot projects with several utilities, Yotta’s commercial rooftop applications are gaining traction with the commercial and industrial markets. Most recently, the company cemented a 12-project deal with Louisiana commercial solar installer EcoBuild; the first of which is a 87kW solar and storage microgrid system.