Petra Solar, a developer of power electronics for solar systems, has raised $14 million Series A financing round.
The round was led by DFJ Element and BlueRun Ventures. National Technology Enterprises Co. also participated. The investment will be used for product development and global market expansion. Petra Solar focuses on increasing efficiencies and significantly reducing the cost of installed solar electric systems through the introduction of innovative power electronics. The company has a strong IP position.
“Petra Solar’s innovative products provide truly modular and scalable PV systems. Such systems have higher efficiency, better reliability and simplified Balance of System in addition to easier maintenance,” said David Lincoln, Managing Director, DFJ Element.
About Petra Solar
Petra Solar is introducing intelligent, digitally controlled, distributed and scalable products that manage power out of solar modules and into the grid, batteries and loads. Solar Electric systems built with Petra Solar’s products have higher efficiencies and are much easier to design, build, maintain and scale.
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