Investment to scale solar optimization and DC-to-DC powered EV chargers to deliver clean, efficient electrical power
MORGAN HILL, Calif.–(BUSINESS WIRE)–Enteligent Inc., a developer of solar-powered DC-to-DC chargers for electric vehicles (EVs), has raised $6 million in capital from investors to scale the commercialization of its photovoltaic (PV) module-level power optimizers and its DC-to-DC based bi-directional EV chargers. In particular, Enteligent is supplying the world’s first long-dwell-time 25kW DC-to-DC EV charger to a large logistics company to power its newly electrified delivery fleet. The funding round was led by Taronga Ventures, a leading global technology investor focused on driving innovation across real asset sectors such as infrastructure and real estate. This recent funding round brings the company’s total fundraising to $19 million since 2021, with historical investment from NOVA, an affiliate of global building materials company Saint-Gobain.
“Enteligent’s technology sets a new standard in maximizing solar energy efficiency,” said Jonathan Hannam, Managing Partner at Taronga Ventures. “Their holistic approach to solar power optimization offers practical solutions with real-world applications that meet the needs of global real asset owners and operators. Together, we can significantly advance decarbonization efforts for real assets.”
Enteligent was selected by Taronga Ventures’ program arm, RealTechX, as one of 12 companies internationally to participate in its ESG Impact program in 2023, whose program partners included APG, CapitaLand, CBRE, Dexus, International Towers, ISPT, Ivanhoé Cambridge, PGIM Real Estate and Vicinity Centres. Through the program, Enteligent worked to further refine its ESG positioning for the real asset sector.
“Our mission is to drive a paradigm shift in energy consumption habits by leveraging abundant solar power and our innovative technology to facilitate society’s transition to electrification,” said Sean Burke, Enteligent CEO and co-founder. “Having an industry leader such as Taronga Ventures as our lead investor is a significant endorsement of our technology.”
In addition to its 25kW DC-to-DC fleet charging platform, Enteligent is pre-selling its solar-powered TLCEV T1 EVSE, which runs directly from the sun and provides convenient and affordable daytime charging directly from on-site solar generation. The approach fosters a fundamental shift in energy consumption habits so solar power can be used to charge where it is generated. The DC-coupled charger delivers up to 12.5 kW of fast DC charging – twice as fast as many AC Level 2 EV chargers. This model and other Enteligent DC-to-DC EV chargers eliminate the unnecessary DC-to-AC-to-DC conversion losses of AC-powered EVSEs, resulting in up to 20% energy savings.
Enteligent’s NMax PV module power optimizers with rapid shutdown safety capabilities ensure each panel operates at maximum output continuously. Enteligent offers the only module-level power electronic (MLPE) to provide both rapid shutdown device (RSD) capabilities and panel-level performance data over PLC, yielding an average of 10% higher electricity yield from typical rooftop solar installations. Solar inverter suppliers integrating Enteligent’s NMax PV module-level optimizers as a branded package, qualify for the full Inflation Reduction Act (IRA) Manufacturing Tax Credit (45X MPTC).
About Enteligent
Enteligent is a California-based developer of smart solar power optimization and solar EV charging technologies that dramatically increase energy utilization, improve returns on energy investments and enable critical paradigm shifts in the way we use energy for the upcoming green electrification revolution. Enteligent’s NMax photovoltaic module power optimizers use smart digital technology to both dynamically adjust when to optimize and provide panel-level monitoring data, resulting in greater rooftop yield, more energy harvesting and higher system reliability. Enteligent’s bidirectional DC-to-DC powered bidirectional EV chargers enable direct electrification from clean energy to charge faster and more efficiently, recouping up to 25% of electricity lost by traditional means. Learn more about Enteligent at: https://enteligent.com/
About Taronga Ventures
Taronga Ventures is one of the world’s leading technology investors focused on driving innovation across real asset sectors such as real estate and infrastructure. The group consists of the RealTech Ventures funds, the RealTechX innovation programs, and Taronga Advisory, which provides institutional real asset owners and operators strategic advice on critical areas of sustainability and technology. Taronga Ventures’ funds are backed by leading global institutional investors and major real asset owners and operators. Taronga Ventures covers markets across Asia-Pacific, North America, Europe and the Middle East. Learn more about Taronga Ventures at https://tarongagroup.com/
Contacts
Michelle Hargis
Enteligent@mercomcapital.com
US: +1.512.215.4452
