RatedPower Secures US$6M to Fund Development and International Growth

RatedPower, a technology company known for pioneering the development of software to optimise the development of solar plants, has announced the closing of a US$6 million financing round. The round was led by Seaya Ventures, the European venture capital fund with participation of US investors. 

The company intends to direct investments into plans for international growth through the development of new products and functionalities. This move will help to fulfil their mission to become the software and technology ecosystem for renewables.

RatedPower has developed game changing technologies to date. Their solutions have helped companies discover smarter ways to maximise the potential of a solar PV plant. This effort is made with the intention of accelerating the energy transition by increasing global solar energy capacity through innovative and disruptive cloud technologies.

Their proprietary pvDesign is a cloud-based software that automates and optimises the analysis, design, and engineering of photovoltaic plants in all its stages. This development came after extensive research and development. By sweeping through millions of iterations, the pvDesign software finds the best plant configuration and generates, in a matter of seconds and automatically, more than 300 pages of detailed documentation.

In the last 12 months, RatedPower has attracted more than 1,300 users on pvDesign – a 150% increase in the use of the platform (already reaching more than 2,000 GW simulated in more than 150 countries worldwide), a record number of new clients with a portfolio that includes companies such as Iberdrola, Engie, BayWa, AES, Clenera, Sungrow, Burns & McDonnell, Celsia, Shell, Samsung, and National Grid Renewables.

Who We Are:

Research and development is the engine of economic growth in an increasingly knowledge-based global economy, however more investment is needed to help boost human creativity, innovation and economic output. 

Swanson Reed is one of Spain’s largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

To find out more about R&D or to determine the eligibility of your business for receiving an R&D tax credit, contact a Swanson Reed R&D Tax Advisor today.

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