Tuesday September 12, 2017 0 comments
FORT COLLINS -- Ampt LLC, a leader in power conversion technology for solar power plant optimization, today announced it raised an additional $15 million in funding.
The new round of funding comes from strategic investor and founder of Ampt, Doug Schatz, and Bohemian Investments, bringing their total investment to more than $50 million.
The funding will be used to expand Ampt's product portfolio and accelerate global growth, especially sales and partnership activities for repowering legacy PV plants in Europe, Japan and North America, the company said.
"Ampt became the No. 1 optimizer company in the world for large systems by exceeding expectations of its customers," said 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 said it recently extended its line of DC String Optimizers to address repowering existing PV power plants – a market opportunity exceeding 100 gigawatts (GW).
The company said it 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," said 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"We've developed a low-cost way to re-energize these systems or replace outdated inverters when necessary to provide a higher ROI than many of the new PV plants being built today."
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.