US-based digital solar solutions startup Terabase Energy announced it has successfully secured US$6 million in a Series A funding round in a statement dated September 9, 2020. The round was led by SJF Ventures and also saw investments from Powerhouse Ventures, City Light Capital and Trancoso Partners.
The proceeds of the new funds will be use to expand the team, and enhance currents products. “This investment will allow us to continue to expand our team and enable our customers to more efficiently and rapidly deploy low-cost solar,” remarked Terabase CEO Matt Campbell.
“Getting wholesale solar power costs below one cent per kilowatt-hour is vital to expanding the global applications for solar power and to addressing the global climate crisis,” he added.
Founded in 2019 by six solar veterans from SunPower — CEO Matt Campbell, Chris Baker, Amine Berrada, Dan Cohen, Pierre Gousseland and Thang Le — Terabase works with engineering, procurement and construction firms, developers and independent power producers across five continents to aggressively drive down the soft costs of solar development, construction and operations.
“SJF’s mission is to support high-growth, positive-impact ventures and Terabase is a perfect fit,” said Dave Kirkpatrick, managing director at SJF Ventures. “It is rare for us to be able to back such a veteran team. Terabase’s novel, digital approach delivers value to these massive solar projects and will accelerate solar’s replacement of coal and gas generation around the world.”
Terabase aims to lower solar power prices to $0.01 per kilowatt-hour by 2025