Planetary Power, a Redmond, WA-based developer of the HyGen hybrid generator, secured US$3.43m in Series A funding.
Backers included a mix of previous investors (Miguel Forbes, Ross Perot Jr., Peter Diamandis, Richard Garriott de Cayeux and Eric Anderson) and new angel investors.
The capital will be used to finalize development and release of the HyGen hybrid generator to the telecom market where it will provide energy for off-grid telecom towers.
Led by Joe Landon, CEO, Planetary Power aims to replace the diesel generators currently powering over one million off-grid telecommunications sites around the world with the (HyGen) hybrid power generator, which combines advanced technology with integrated energy storage for fuel-efficient, off-grid power available.
In preparation for the launch of HyGen, the company has undergone successful field trials, and will begin shipping to off-grid telecom towers in Latin America in the third quarter of this year.
FinSMEs
14/06/2016