Solar Optimizer Company Ampt Receives $25 Million in Series C Funding & Working Capital
Colorado-based Ampt, a company that makes technology to help optimize solar power installations, has raised $20 million in a Series C funding round, and $5 million more in working capital. Bohemian Investments led the Series C round, which included the cofounder of Ampt, Doug Schatz, via the Schatz Family Trust.
Ampt technology reduces electrical balance-of-systems costs, and PV inverter cost per watt. Ampt String Optimizers use a number of maximum power point trackers to help optimize solar cell efficiency. (In this case, a maximum power point tracker is not a solar panel tracker, which is technology that keeps solar panels facing the sun by tracking it across the sky.)
Ampt makes string and module optimizers that can reduce wiring and inverter costs and increase performances.
“Ampt is in one of the fastest-growing categories in solar. Their differentiated products, strong intellectual property and deep global partnerships are driving Ampt’s growth, and we are pleased to support their long-term success,” explained Joseph Zimlich, CEO at Bohemian Investments.
“Our customers are choosing Ampt to remove 5 to 10 cents per watt in total system cost by deploying 1000 volt inverters at their full-rated power in 600 volt systems. This savings, coupled with increased energy generation from more granular MPPT, significantly increases their ROI,” said Evan Vogel, Ampt’s vice president of sales and marketing. Ampt launched a new optimizer just last year.
Ampt has partnered with the Bonfiglioli Group, Kaco, and LTI RE Energy. It also participates in the HDPV Alliance, an organization that works to improve the performance of large-scale PV systems.
The company was founded in 2007 and has former employees from top-flight companies like IBM and SunEdison on its staff.
Image Credit: Ampt
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