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    Sunstone Credit secures $20 million in Series A funding round

    Sunstone Credit secures $20 million in Series A funding round

    New-York based Impel secures $104 million in growth funding

    New-York based Impel secures $104 million in growth funding

    Metagenomi bags an extra $100 million before closing its Series B

    Metagenomi bags an extra $100 million before closing its Series B

    Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

    Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

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      Sunstone Credit secures $20 million in Series A funding round

      Sunstone Credit secures $20 million in Series A funding round

      New-York based Impel secures $104 million in growth funding

      New-York based Impel secures $104 million in growth funding

      Metagenomi bags an extra $100 million before closing its Series B

      Metagenomi bags an extra $100 million before closing its Series B

      Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

      Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

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      Next gen solar foundation providers Ojjo raises $40 million in its Series C

       149 total views,  1 views today

      USTechTimes Editor by USTechTimes Editor
      September 22, 2022
      Next gen solar foundation providers Ojjo raises $40 million in its Series C

      Ojjo is the industry leader in the development and manufacture of next-generation solar foundations

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      San Rafael, California-based Ojjo, a provider of next-generation solar foundations, has closed a $40 million Series C funding round led by NGP ETP, NGP’s energy transition investing platform. Ajax Strategies also participated in the round.

      The new round of funding will help Ojjo accelerate its growth and execution of its 9-Gigawatt active project pipeline. Ojjo’s patented Earth TrussTM System requires less steel and labor than traditional pile foundations.

      The company’s system has been contracted or built in over 1.6 GW solar projects, including the nation’s largest standalone solar and storage project, Gemini Solar. Ojjo has previously raised $27 million in two prior funding rounds, with participation from Cthulhu Ventures and other investors.

      “We’re thrilled to welcome our investors, NGP ETP and Ajax, who have long shared Ojjo’s vision for accelerating the growing and vibrant solar industry,” says Mike Miskovsky, chairman and CEO of Ojjo.

      “For too long, our industry has had to make do with pile foundations that were never designed for solar applications – often resulting in avoidable project costs and labor inefficiencies. As we enter the era of TW-scale solar, our industry will increasingly require optimized, solar-specific mounting and installation hardware,” he added.

      Earth Truss System is a significant advancement in large-scale solar foundations

      Solar developers, EPCs, and foundation subcontractors can use Ojjo’s Earth Truss hardware, field engineering services, and automated Truss Driver machines. Furthermore, Ojjo has collaborated with solar tracker manufacturers to create streamlined, fully compatible hardware, lowering steel componentry and overall system costs.

      “Solar foundations represent a major untapped opportunity in the industry. We believe that Ojjo’s experienced team is perfectly positioned to deliver innovation, automation, and cost savings when the industry needs it most,” states James Wallis, partner at NGP.

      Ojjo, was founded in 2018 by solar innovation veterans from Zep Solar and Tesla, and it currently holds over 250 domestic and international patents for its system. Ojjo is quickly becoming the go-to solution for leading utility-scale projects, with over 26 Gigawatts of opportunities in its North American pipeline.

      “We’ve been early supporters of Ojjo’s team and technology, and our follow-on investment was a natural fit for our shared vision of delivering revolutionary solutions to climate change,” said Matt Rogers, Ajax’s operating partner.

      “The timing couldn’t be better for solar innovations such as Ojjo with the passing of the Inflation Reduction Act (IRA), which enables consistent growth over the next decade for domestic renewable energy production. Ojjo has all the capabilities to help the industry scale to take full advantage of this unique and timely opportunity,” added Rogers.

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      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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