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PVcase raises $100 million to fuel expansion – pv magazine International

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PVcase, a photo voltaic mission software program firm primarily based in Lithuania, has raised $100 million to increase the marketplace for its platform and lengthen its capabilities.

Lithuania-based PVcase has raised $100 million in development capital for its engineering and software program design enterprise from worldwide traders. “Roughly six months from the primary introduction to the closing of the deal,” the CEO of PVcase, David Trainavicius, stated. pv journal.

The fairness funding is led by two new traders, the London-based development investor, Highland Europe, and local weather software program investor, Energize Ventures, primarily based in Chicago, together with Boston-based Elephant VC, an investor within the firm’s first spherical in 2021.

With capital in place, PVcase is growing the German, Spanish, and UK markets for geographic data system (GIS) data-enhanced site-selection expertise that it not too long ago added to its platform via the acquisition of Colorado-based Anderson Optimization (AO), in response to Trainavicius.

When requested if extra acquisitions are deliberate, or if investments can be made in inner software program improvement, Trainavicius stated pv journal“Our choice historically is to construct and never purchase, nonetheless, the take care of Anderson Optimization makes a whole lot of sense for our shoppers not to do that. We’re within the technique of deciding the easiest way to increase the platform into a real end-to-end software program answer to serve the complete lifecycle of photo voltaic utility crops. We’re additionally hiring worldwide, with fifteen open positions.”

In a press release, the brand new traders mentioned PVcase’s alternative to cut back time spent on data-related points for photo voltaic tasks. PVcase claims that its options can cut back design time from days or hours to minutes.

“Good, streamlined information all through the design and building life cycle is the gas we have to proceed the transition of renewable vitality in direction of a clear future. We have to advance photo voltaic operations totally into the digital age by decreasing information danger. We made this funding in order that PVcase can lead the business with an answer,” stated Irena Goldenberg, Associate at Highland Europe, in a press release.

“The utility-scale photo voltaic business is poised for explosive international development within the coming years, but it surely at present lacks the digital instruments wanted to fulfill market demand,” John Powerful, managing associate of Energize Ventures and PVcase board member, stated in a press release.

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