|Executive Summary:||GreenVolts allows utilities to harness solar energy efficiently and economicaly. Utilities are facing a number of challenges that make GreenVolts’ technology a realistic solution. These include:
o Increased demand for peak power supply
o New government regulations requiring renewable energy
o A need to defer costly grid upgrades
o Impending caps on carbon emissions
o Increased demand for clean energy alternatives
o need for increased grid reliability
The GreenVolts product is a radical new design, constructed as a system so that all of its component parts work together to produce low-cost electricity with minimal maintenance over a 25-year lifespan.Capital costs of less than $2/W put it on a path to parity with power from natural gas.
In less than two years, the company has attained a significant milestones and is on the cusp of announcing its first large contracts with utility customers.
● First place in the California Clean Tech Open business plan competition, beating out 61 competitors
● A grant from the CA Energy Commission
GreenVolts has raised $700k in seed capital. The company is now seeking additional financing of $4-5M to complete product development, qualification testing, and to develop the pilot production line.|