Venture Capital News: Ampt Scores $15M
FORT COLLINS, CO, Ampt, a leader in power conversion technology for solar power plant optimization, today announced an additional $15 million in funding.
The new round of funding comes from strategic investor and founder of Ampt, Doug Schatz, and Bohemian Investments which brings their total investment to over $50 million. The funding will be used to expand the company's product portfolio and accelerate global growth, especially sales and partnership activities for repowering legacy PV plants in Europe, Japan and North America.
"Ampt became the #1 optimizer company in the world for large systems by exceeding expectations of its customers," said Mr. Schatz. "The combination of strong IP and market leadership in optimizing utility scale systems has translated into sales momentum and scale in key target markets."
Ampt recently extended its line of DC String Optimizers to address repowering existing PV power plants - a market opportunity exceeding 100 gigawatts (GW). The company is also developing tier-one relationships with EPC and O&M providers and inverter companies that are also serving the repowering market.
"We've expanded our product line to focus on repowering existing PV power plants while upholding Ampt's basic customer value proposition of improving system performance while reducing costs," added Levent Gun, Ampt CEO. "We've developed a low-cost way to re-energize these systems or replace outdated inverters when necessary to provide a higher ROI than many of the new PV plants being built today."
To learn more about Ampt, visit their booth # 1127 at Solar Power International on September 11-13, 2017 or visit http://www.ampt.com/.
Ampt delivers innovative power conversion technology and communications capabilities that improve the way PV systems are designed. With installations and experience serving markets around the world, the company is headquartered in Fort Collins, Colorado and has sales and support locations in North America, Europe, Japan and South Korea as well as representation in Asia, Australia and the Middle East. Along with our strategic partners in the HDPV Alliance, Ampt is lowering the cost of solar energy, improving project ROI, and broadening the PV solar market.
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