Ampt receives $20M in Series C funding round
Wednesday July 15, 2015 0 comments
FORT COLLINS -- Ampt LLC, a leader in power conversion technology for solar power plant optimization, today announced $20 million in Series C funding and $5 million in working capital to support the company’s continued growth.
The funds will be use to expand production and accelerate global sales and partnership activities as well as support ongoing product innovation, Ampt said.
The funding round was led by Bohemian Investment, an investment firm named 2014 Investor of the Year by the Colorado Cleantech Industries Association (CCIA).
Doug Schatz, Ampt co-founder, also took part in the round through the Schatz Family Trust.
Ampt’s flagship product is a String DC Optimizer used in commercial and utility-scale photovoltaic systems.
Ampt said its Optimizer lowers the cost of PV systems while increasing their performance.
“Ampt is in one of the fastest-growing categories in solar,” said Joseph Zimlich, Bohemian Investments CEO. “Their differentiated products, strong intellectual property and deep global partnerships are driving Ampt’s growth, and we are pleased to support their long-term success.”
“Our customers are under increasing pressure to lower costs, and Ampt’s technology unlocks significant savings in even the most competitive solar markets,” said Levent Gun, Ampt CEO.
“This round of funding will accelerate our business to meet that opportunity globally.”
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InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.
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