The investment allows ABB to gain access to GreenVolts’ proprietary technology and the company can now offer turnkey solutions for CPV power plants in addition to its current capabilities in solar thermal and conventional PV power projects.
GreenVolts president and CEO David Gudmundson said the company’s complete and fully integrated photovoltaic system is an industry game-changer.
"Every component was carefully designed to work together in a turnkey solution that dramatically reduces the cost and complexity of solar projects. With ABB’s global presence and expertise, these benefits will now be available to customers worldwide," Gudmundson said.
ABB is making the investment through its venture capital arm, ABB Technology Ventures, in a funding round that includes existing GreenVolts investor, Oak Investment Partners.
