SAN RAFAEL, CA, Ojjo, the leading provider of next-generation solar foundations, has closed a $40 million Series C funding round.
The round was led by NGP ETP, the energy transition investing platform of NGP, with Ajax Strategies also participating. In addition, James Wallis, Partner at NGP, has joined Ojjo's Board of Directors. The new funding will accelerate Ojjo's growth and execution on its 9-Gigawatt active project pipeline. Ojjo's patented Earth TrussTM System offers a fast and efficient means of securing ground mount solar systems-typically requiring significantly less steel volume and labor as compared to customary pile foundations. The company's system has been contracted or constructed in over 1.6 gigawatts (GW) of solar projects to date, including on the nation's largest standalone solar and storage project, Gemini Solar. Ojjo has previously raised a total of $27M across two prior funding rounds, with participation from Cthulhu Ventures and other investors.
Ojjo is the industry leader in the development and manufacture of next-generation solar foundations. Ojjo's patented approach combines novel hardware, the Earth Truss, with an innovative drilling machine, the Truss Driver. The Earth Truss is one of the fastest-to-install solar foundations in the industry, typically requiring significantly less steel volume and labor than a conventional pile system. Founded in 2018 by solar innovation veterans from Zep Solar and Tesla, Ojjo holds more than 250 domestic and international patents related to its system. Rapidly becoming the go-to solution for leading utility-scale projects, Ojjo has over 26 Gigawatts of opportunities across its overall North American pipeline.
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