Investment to fast-track development of solar optimization and solar-EV technology that will deliver more generation and accelerate the shift in energy consumption habits
MORGAN HILL, Calif.–(BUSINESS WIRE)–Enteligent Inc., developer of solar power optimization and solar electric vehicle (EV) charging technologies that delivers more of the clean energy generation and dramatically reduces cost, today announced it has raised $7 million in capital from strategic and institutional investors to fast-track the commercialization of its proprietary solar optimization platform and the world’s first DC-to-DC solar hybrid bi-directional EV charger.
This seed round included investments by several strategic investors such as NOVA, the venture arm of Saint-Gobain, one of the world’s largest building materials companies, and Taronga Ventures, one of the world’s leading real asset technology investors, as well as other strategic investors.
Enteligent enables consumers to shift their energy consumption habits by providing technology that makes it affordable and convenient to charge during the day. The company’s proprietary solar optimization technology with rapid shutdown safety capability optimizes the local delivery and use of solar panel electricity generation and provides intelligent monitoring to maintain maximum solar array production. Similarly, the Enteligent EV charger takes DC electricity directly from solar with dramatically more usable energy, leading to significant cost savings per kW. It is an ideal solution for residential, commercial, and industrial customers who want to maximize renewable energy output.
Today, EVs are mainly charged overnight via a fossil fuel-powered grid. The proliferation of EVs however, is straining the grid’s ability to handle the exponential growth in energy demand. Enteligent’s proprietary solar EV chargers expedite a fundamental shift to clean, solar-based, daytime charging, eliminating unnecessary DC to AC to DC conversions, resulting in up to 25% in energy savings.
“There is an increasing demand for EV charging to become more readily available, and we are seeing this across our real asset partners globally. Enteligent’s DC-input EV charger provides a step-change in the energy efficiency and price-point of EV fast chargers, which is needed to accelerate the adoption of clean energy in commercial assets,” said Avi Naidu, Managing Partners at Taronga Ventures. “Enteligent’s world-class innovative team has a track record of effectively delivering practical technologies to market, and we’re delighted to support them on their initiatives.”
“Our vision is to deliver technology that solves the near-term electrification challenges stemming from the EV revolution—ubiquitous daytime EV charging, everywhere you park, with efficient use of clean, on-site generated solar electricity,” commented Sean Burke, founder, and CEO of Enteligent. “This investment validates our technology as well as our vision to foster a fundamental shift to cleaner and more effective energy consumption habits.”
About Enteligent
Enteligent is a California-based developer of smart solar power optimization and solar EV charging technologies that dramatically increase energy utilization, improve returns on energy investments and enable critical paradigm shifts in the way we use energy for the upcoming green electrification revolution. Enteligent’s NMax photovoltaic module power optimizers use smart digital technology to both dynamically adjust when to optimize and provide panel-level monitoring data, resulting in greater rooftop yield, more energy harvesting and higher system reliability. Enteligent’s bidirectional DC solar EV chargers enable direct electrification from clean energy to charge faster and more efficiently, recouping the up to 25% electricity lost by traditional means. Learn more about Enteligent at: https://enteligent.com/
About NOVA by Saint-Gobain
NOVA, the external venturing arm of Saint-Gobain, identifies forward-thinking startups around the world whose philosophies align with Saint-Gobain’s focus on sustainability. It helps those startups nurture their ideas and grow their companies to scale through partnerships and investment. With a presence in Asia, Europe and North America, NOVA connects the global startup community with the power, resources, and experience of Saint-Gobain to address the needs of today and challenges of tomorrow. Learn more by visiting https://www.nova-saint-gobain.com.
About Taronga Ventures
Taronga Ventures is one of the world’s leading technology investors focused on driving innovation across real asset sectors such as real estate and infrastructure. The group consists of the RealTech Ventures funds, the RealTechX innovation programs, and Taronga Advisory, which provides institutional real asset owners and operators strategic advice on critical areas of sustainability and technology. Taronga Ventures’ funds are backed by leading global institutional investors and major real asset owners and operators including APG, Ivanhoé Cambridge, CBRE Inc., PGIM Real Estate, Mitsubishi Corporation, Nomura Real Estate, Patrizia AG, Dexus, Grosvenor Estate, amongst others. Taronga Ventures covers markets across Asia-Pacific, North America, Europe and the Middle East. Learn more about Taronga Ventures.
Contacts
Wendy Prabhu, Mercom Communications
Enteligent@mercomcapital.com
US: +1.512.215.4452
