Company Closes Series A, Announces Platform Enhancements, Makes Key Hire
Solar digital solutions startup Terabase Energy announced Wednesday that it has closed a $6 million Series A financing, led by SJF Ventures. On a mission to drive solar power prices down below one cent per kilowatt-hour (kWh) by 2025, Terabase provides proprietary software, automation and digital deployment solutions for utility-scale projects globally.
Co-founded 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. The company recently added Allan Daly to its management team as vice-president of software. Daly was a co-founder of BrightBox Technologies and vice-president of software at Nextracker.
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“This investment will allow us to continue to expand our team and enable our customers to more efficiently and rapidly deploy low-cost solar,” said 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.”
“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.”
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SJF Ventures’ roster of solar companies includes Nextracker (acquired by Flex), Community Energy and groSolar (acquired by EDF Renewables). In addition to SJF, Terabase’s Series A included follow-on investments from Powerhouse Ventures, City Light Capital and Trancoso Partners.
This month, Terabase will roll out a unique, collaborative, hosted solution for projects in development. With its latest platform enhancements, Terabase is solving a longtime problem in project development: as projects gather more information on site constraints, developers struggle to manage all that data and maintain version control for the design. Terabase’s cloud-based platform can now host a 3D digital twin for the project while Terabase’s engineering team provides optional services catered to each project’s specific needs. More than 200 companies are using the Terabase Platform to develop solar power plants in 28 countries.
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