Terabase Secures $130 Million to Expand Solar Farm Automation

Terabase Energy, a solar technology firm, has raised $130 million in Series C funding to grow its solar power automation solutions. The funding will be used to help the company digitize construction of solar farms, reduce costs, and speed up the adoption of large-scale solar projects. SoftBank Vision Fund 2 led the round of funding, with new and current investors joining in, to take Terabase's total funding to more than $200 million.

Terabase has already funded over 12 gigawatts of solar projects with its automation technology. With the new funding, the company plans to develop its technology platform further and build more efficient solar farms. Among the focus areas will be the expansion of Terafab™, a cutting-edge robotics-enabled system that reduces the level of labor-intensive effort involved, makes the installation process safer for employees, and allows for quicker project completion.

Terafab™ currently has 40 megawatts of solar installed in the United States. This will ramp to hundreds of megawatts in the coming year with the new capital. This expansion is coming when the world is experiencing growth in demand for clean energy, most notably from AI data centers which require scalable and efficient power solutions.

SoftBank has seen potential in Terabase in serving this rising energy requirement and sees scope in the firm's potential for turning the solar farm construction approach around. Data centers and factories look for green clean renewable forms of energy, so automation for the construction of solar farms is a necessity that can be realized if sustainability objectives have to be reached.

The investment also aligns with the broader industry trend of treating solar power as 24/7 energy. Technology development in battery storage is rendering solar power more reliable, able to meet round-the-clock electricity requirements of business and industry. The push for local production and expansion of utility-scale solar farms also highlights the imperative of automation in reducing cost and increasing efficiency.

Terabase's new funding represents a major milestone in bringing large-scale solar farm development closer to being quicker, safer, and cheaper. As automation and digitization increasingly transform the renewable energy industry, businesses such as Terabase will be at the forefront of a sustainable energy future.

Source: Terabase Energy