Ecoppia closes US$13 Million funding round to meet demand, expand and launch new products

Facebook
Twitter
LinkedIn
Reddit
Email
Eran Meller, CEO and co-founder of Ecoppia. Credit: Ecoppia

Israel-based waterless, solar cleaning solutions provider Ecoppia has completed a US$13 million round of funding, led by Swarth Group, GlenRock, Gandyr, and a new investor, Israel's largest insurance group, Harel Group Insurance and Finance.

Ecoppia's pipeline is expected to top 2GW in 2018 and it already has experience cleaning over 200 million solar panels worldwide. In a release, the firm said it would use the funding to meet “sharp product demand” in large-scale projects, to expand into new geographies and to launch new products.

Ecoppia provides cloud-based, waterless cleaning robots to remove dust on solar modules and reduce the negative effects of soiling. The robots utilize advanced data analysis and machine learning.

The firm claims to have grown revenue at a rate of more than 1600% in the past four years and is currently the fastest growing cleantech company in Israel.

Eran Meller, CEO and co-founder of Ecoppia, said: “The financial stability this investment grants us will enable the company to continue serving the largest energy players in the world, meeting the requirement of the top financial institutions involved in cleantech, and the growing demand in our pipeline.”

Waterless cleaning solutions are critical in regions with water scarcity, since traditional module cleaning techniques can be heavily water-intensive. Ecoppia recently deployed its E4 cleaning robots at a 40MW solar plant on the Israel Jordan border. It has also agreed with Solairedirect India, a subsidiary of energy multinational ENGIE Group, to provide its automated systems within the Bhadla Solar Park in India.

Read Next

July 11, 2022
Renewables advisory firm Pexapark has secured €8 million (US$8.08 million) in a second round of Series B funding as it plots further expansion.
July 5, 2022
Indian energy giant Tata Power has signed a Memorandum of Understanding (MoU) with the Indian state government of Tamil Nadu to invest roughly INR3,000 crores (US$380 million) in setting up a 4GW cell and 4GW module factory in the state.
July 1, 2022
Energy management software company Cleartrace has secured US$20 million in a financing round to accelerate the growth of its platform.
June 22, 2022
Australian energy software company Evergen has closed a AU$15 million (US$10.4 million) series B funding round, its largest capital investment to date.
June 17, 2022
Project financing facility CrossBoundary Energy Access (CBEA) has raised US$25 million to finance solar powered mini-grids in Africa.
June 9, 2022
US solar and storage developer Agilitas Energy has raised US$350 million of equity investment from fund manager CarVal Investors.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event