QBotix, creators of the solar Robotics Tracking System (RTS), recently announced $12 million in Series B financing when E.ON and Iberdrola joined existing investors New Enterprise Associates, Firelake Capital Management and Draper Nexus.
QBotix has installed RTS systems in the U.S. and Japan, and is actively developing additional projects in the U.S., Europe, Mexico and Australia. QBotix will use the funds for team and market expansion and to accelerate manufacturing ramp-up.
According to QBotix, the RTS provides
“E.ON has tested the QBotix RTS for over a year and has evaluated the system’s ability to produce significantly more energy than fixed-tilt and single-axis tracking systems,” says Urban Keussen, senior vice president, technology and innovation at E.ON. “E.ON is in the business of providing reliable, low cost energy to our customers across several countries, and we believe the QBotix RTS has great potential to reduce LCOE for commercial and utility-scale solar projects.”
“Iberdrola’s venture initiative, Inversiones Financieras Perseo, S.L., is growing its investment activity in the U.S. with a focus on partnering with start-up companies that are changing the energy business,” says Diego Diaz, head of Iberdrola’s Corporate Venture Capital program. “We are very excited to work with QBotix, as we believe that the RTS is a revolutionary, highly efficient technology that will contribute to significantly reduce the balance of system costs in solar projects.”
QBotix also recently announced successful completion of its $1 million U.S. Department of Energy (DOE) SunShot Initiative award project and its first independent engineering (IE) report. Fast Company recently recognized QBotix as one of the world’s top 10 most innovative companies in robotics, and QBotix announced a 45 MW supply agreement with UK-based developer Castillium.
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