Terabase Energy announced a $44 million Series B financing co-led by the Bill Gates platform Breakthrough Energy Ventures and Prelude Ventures with additional participation by SJF Ventures and other existing investors.
The round brings Terabase’s funding to $52 million and is expected to be used to further develop the company’s digital and robotic automation platform for utility-scale PV power plants.
Terabase said its automated field-factory is capable of 24/7 operations and can “significantly compress construction schedules” and reduce costs while “ensuring higher build quality.” The company said it aims to drive down solar power prices below $0.01 per kWh by 2025.
The latest financing round is expected to enable full commercial deployment of the company’s robotic product in 2023.
Terabase said its software includes cloud-based apps for plant design, solar energy modeling (PlantPredict), and construction management. The company also offers power plant controls and SCADA solutions. Terabase acquired PlantPredict in August 2021 from First Solar.
