Yotta Energy Secures $8M Funding Led by Evergy Ventures to Expand Solar+Storage Solutions for Commercial Buildings

Launches Yotta Vision to enhance solar system management

AUSTIN, Texas, Sept. 19, 2023 /PRNewswire/ -- Yotta Energy, a leading provider of innovative solar+storage solutions, announced it raised an $8 million funding round led by Evergy Ventures and with participation from strategic investors BlueScope and Cricetus Felix Ventures and existing investors Copec WIND Ventures, EDP Ventures, Doral Tech Ventures, and the SWAN Impact Fund.  The funding will help the company scale up manufacturing and accelerate the deployment of its SolarLEAF battery technology.

Addressing the Growing Market for Commercial Solar Installation
As the world continues prioritizing sustainability and environmental responsibility, the demand for renewable energy solutions in the commercial building sector has experienced exponential growth. Solar energy has become increasingly attractive to businesses looking to reduce their carbon footprint, mitigate energy costs, and improve energy resiliency. Recent data indicates that solar installations on commercial buildings have seen impressive year-over-year growth of more than 30% since 2016, underscoring the immense potential and untapped opportunities in this market segment.

Yotta's Combined Solar+Storage Solution Can Save Customers Time and Money
Yotta Energy's proprietary solar+storage architecture has emerged as a game-changer for commercial buildings, addressing one of the most significant challenges in solar energy utilization—intermittency. The company's energy storage technology is the only system designed to be streamlined and installed alongside solar Photovoltaic systems. Doing so saves significant time on technical design and construction, saving customers up to 40% over energy storage as a separate project. Yotta is increasingly building up a network of certified developers and installers, including Teylon and E2SOL deploy solar+storage architecture to some notable national retailers.

"We are thrilled to partner with Yotta Energy on their journey to transform the commercial building sector with their innovative solar+storage technology," said Brock Smith, Managing Director at Evergy Ventures. "Yotta's unique approach to addressing intermittency challenges in solar energy is truly game-changing, and we believe it aligns perfectly with our vision of advancing clean and sustainable energy solutions. We are excited to support Yotta Energy as they expand their commercial deployment and contribute to a greener, more resilient energy future for businesses around the world."

"This new $8 million funding round, reinforces Yotta Energy's position as a leading player in the solar+storage domain," said Omeed Badkoobeh, CEO of Yotta Energy. "With the growing interest within this market for solar, ESS and EV Charging, and our recent entry into the GSA Green Proving Ground, a program that will give us access on deploying our technology across government buildings, we think Yotta Energy is exceptionally positioned to deliver not only the best project economics but also deliver this at scale. With Evergy Ventures as our strategic partner, we are confident in our ability to drive positive change and make a lasting impact on the global transition to renewable energy."

Announces Launch of Yotta Vision
The company also announced the launch of its new product, Yotta Vision. The product is a monitoring platform designed to enhance solar system management. With its capability to analyze individual solar modules and micro-inverters, it enables remote access to a solar array. Real-time communication, performance issue alerts, Temperature monitoring, and dynamic graphs of solar output empower efficient troubleshooting and optimization, ensuring its clients' solar investments thrive.

About Yotta Energy
Headquartered in Austin, Texas, Yotta Energy is delivering a green future with 'Energy Made Simple' solutions that incorporate solar, energy storage, and electric vehicle charging technologies into commercial buildings. Yotta has developed a unique PV-Coupled™ architecture, a smart energy storage solution designed to scale with rooftop solar PV projects effortlessly, in addition to a number of electric vehicle charging products to create a holistic ecosystem of renewable energy technologies. Yotta's technology features advanced thermal management to maintain an optimal working temperature even under extreme outdoor conditions. As an integrated software plus hardware solution, Yotta also helps address grid outages by enhancing grid resilience and reliability. Yotta's technology allows for a much lower total installation cost for rooftop solar-plus-storage and EV charging infrastructure than any other current providers. Learn more at www.yottaenergy.com.

About Evergy Ventures
Evergy Ventures – formerly known as GXP Investments (GXPI) – is the non-regulated investment affiliate of Evergy, Inc., the electric utility serving approximately 1.6 million customers in Kansas and Missouri. Its investment portfolio includes a wide range of businesses, and they are particularly focused on exploring unique opportunities that are aligned with Evergy's core mission to foster energy that moves us forward. Evergy's well-respected team of investment professionals has deep experience in both regulated and non-regulated energy solutions as well as investments, entrepreneurship and business strategy. For more information about Evergy Ventures, please visit: https://evergyventures.com/.

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SOURCE Yotta Energy