The new funds will allow the company to accelerate the scaling of its panel-level solar-plus-storage system, develop new technology, and increase its headcount.
Yotta Energy announced that, in addition to the already-announced $13 million that the company raised from a group of investors to further develop its rooftop energy storage solution, it has raised another $3.5 million, including a strategic investment from inverter OEM partner, APsystems, bringing its total Series A investment to $16.5 million.
According to Yotta, the company will use the funding to accelerate the scaling of its panel-level solar-plus-storage system, develop new technology, and increase its headcount. Yotta’s unique energy storage solution includes a one-kilowatt-hour battery that mounts underneath a roof-mounted solar module. This panel-level solution fits under any industry standard solar module, according to the company. In addition to battery charging from the PV system, Yotta’s energy storage system provides time-of-use software control.
In addition to the funding, Yotta also announced that it was awarded $1.97 million by the Department of Defense’s Environmental Security Technology Certification Program (ESTCP) for a new solar-plus-storage microgrid project at Nellis Air Force Base in Las Vegas, Nevada. According to Yotta, the installation will feature hardware tweaks and innovations driven by customer feedback, but not much else is known about the project.
“Yotta Energy is a great candidate for this [ESTCP] program because of the distributed and flexible solution the technology provides for different use-cases on military installations,” said Timothy Tetreault, project manager at ESTCP. “We are excited to implement this technology at Nellis Air Force base as we strive to future proof our military with resilient and sustainable solutions.”
Yotta Energy’s lithium-iron-phosphate battery is a 1 kWh unit that accepts up to four solar panels. The company says the system can scale to 1 MWh of battery, meaning 1,000 units.
Each battery can be wired with up to four solar panels, although two panels are considered optimal. The 1.2 kW microinverter can handle up to four 440W+ solar panels, with one battery per panel. The unit has a 10-year warranty by default, and there is a 15-year extension available.
