Breakthrough Energy Ventures, a climate-focused venture capital firm with ties to some of the wealthiest people on the planet, has joined a $44 million bet on solar startup Terabase Energy.
Terabase CEO Matt Campbell said in a statement that the company’s goal is to quickly build “terawatt-scale” new solar power plants. The startup says its automated power plants can already speed up construction and reduce costs by using robotic arms to lift and connect heavy solar panels and sun trackers. When asked for photos of the interior of its plant, Campbell pointed TechCrunch to previously released aerial photos and declined to share more because of competition.
Terabase also produces software tools – for managing the design and construction of solar power plants. The startup recently completed its first commercial project, where its robots are said to have installed 10 megawatts worth of panels. Since one terawatt requires a million megawatts, the startup has a long way to go to realize its aspirations.
Breakthrough Energy Ventures was founded by Bill Gates, and its board of directors includes Jeff Bezos and Masayoshi Son. The venture capital firm led the Terabase deal with Prelude Ventures, an investor in Lime and Amp Robotics.
Their investment comes at a time when the rich are facing scrutiny for their excessive climate pollution. Gates’ private jet may not be as active as Taylor Swift’s, but the Microsoft co-founder is said to own several planes and calls private flying his “guilty pleasure.
Other recent deals for solar startups include panel installer Zolar ($105 million) and solar network developer Okra ($2.1 million).
