SolarBridge Technologies, an AC module system developer for the solar industry, on Monday announced the close of its $19 million Series C round of funding from existing investors Rho Ventures, Battery Ventures, and the Texas Emerging Technology Fund. This round brings the company’s total raised to $46 million.
Originally founded in 2004 as SmartSpark Energy Systems to commercialize electronics technologies created at the University of Illinois, SolarBridge made a pivotal shift in 2009 to focus exclusively on the solar industry. Headquartered in Austin, Texas, the company now develops module-integrated microinverters for the solar industry. (Module-integrated microinverters are all the rage among young Austin hipsters.)
SolarBridge’s Pantheon microinverter is a DC-to-AC energy converter that allows for easy installation, harvests more energy from each panel, and lowers the overall cost of energy.
The entire AC module system consists of the Pantheon microinverter; the PC-Dock, a plug-and-play docking station for the microinverter; the Power Manager, which is the communications hub and monitors the performance of every module in the system; and the Power Portal, a Web-based management system. In short, SolarBridge’s AC module system eliminates the need for a central inverter or multiple string inverters, which typically require a complete replacement over the course of the lifetime of a solar installation.