Israel’s Ecoppia Scientific launches IPO on TASE
Ecoppia Scientific, a provider of robotic solutions for photovoltaic solar, has launched an Initial Public Offering (IPO) on the Tel Aviv Stock Exchange (TASE) after successfully completing the public tender phase.
In a statement, Ecoppia has secured £61.5 million from leading institutional investors, with a company valuation of £223.9 million. During the public tender phase, the company says that it marked another meaningful achievement as public demand reached £57.30 million, despite the companying offering shares for just £1.12 million. It adds that during the institutional tender, it received £108 million in demand, yet accepted only £62.18 million.
Discount Capital Underwriting, along with Barak Capital and Orion led the initial offering, it states.
Ecoppia offers fully autonomous, water free robotic cleaning solutions for PV modules, ideally for large scale PV installations located in dry and arid regions. Deployed globally in utility-scale sites operated by leading energy players on three continents, the company’s solutions clean 10 million panels every night and have been field-proven to keep solar panels at a year-round peak performance while minimising O&M costs.
The company has more than 16GW of signed agreements, and its cloud-based, water-free, autonomous solutions remove dust on a daily basis by leveraging sophisticated technology and advanced business intelligence capabilities.
Remotely managed and controlled, the Ecoppia platform allows solar sites to maintain peak performance with minimal costs and human intervention. Furthermore, the company’s proprietary algorithms and robotic solutions make day-to-day O&M at solar sites safer, more efficient and more reliable, the statement asserts.
Despite the unique challenges of the ongoing COVID-19 pandemic, Ecoppia says that it has secured more than 10GW of new projects over the last four quarters alone, maintaining a CAGR of booking of over 200 percent in the past six years.
Last July, CIM Group, the US-based investment firm, invested £29.8 million in Ecoppia’s shares, with £14.9 million directly into the company, the statement adds.
Founded in 2013 Ecoppia’s primary stakeholders were prominent international investors and financial institutions, along with CIM Group and Eran and Moshe Meller, who held 21 percent of the company’s shares prior to the IPO.
“I would like to thank our investors for their trust in Ecoppia,” said Ecoppia’s CEO Jean Scemama. “Ecoppia serves a rapidly growing global market and has demonstrated strong technological supremacy in all our operational regions.
“It is expected that manual cleaning for large-scale solar sites will become irrelevant in the coming years. Ecoppia is best positioned to maintain our competitive advantage while expanding the variety of offered services to our tier-1 clients."
UK Nissan fleet owners receive commercial charging service
UK fleet owners of Nissan Leaf and e-NV200 models can avail of a new commercial charging service using vehicle-to-grid (V2G) technology.
The V2G technology developed by DREEV, which is a joint venture between EDF and Nuvve, which specialises in V2G technology, allows for two-way energy flow; both recharging an EV’s battery when electricity is at its cheapest, and discharging excess energy to sell back into the grid.
Fleet customers will save around £350 savings per charger each year, which equates to approximately 9,000 miles of driving charge per year.
EDF’s V2G business solution includes:
The supply and installation of a two-way connected compact 11kW charger capable of fully charging a Nissan LEAF, depending on the battery model, in 3 hours and 30 minutes - 50 per cent faster than a standard charger - with integrated DREEV technology.
A dedicated DREEV smart phone app, to define the vehicles’ driving energy requirements, track their state of charge in real time, and control charging at any time
Philip Valarino, Interim Head of EV Projects at EDF, said today’s announcement marks an important step on the UK’s journey towards electric mobility. "By combining the expertise and capabilities of EDF, Nissan and Dreev we have produced a solution that could transform the EV market as we look to help the UK in its journey to achieve Net Zero," he said. “Our hope is that forward-thinking businesses across the country will be persuaded to convert their traditional fleets to electric, providing them with both an environmental and economic advantage in an increasingly crowded market.”
Andrew Humberstone, Managing Director, NMGB, said Nissan has been a pioneer in 100% electric mobility since 2010, and the integration of electric vehicles into the company is at the heart of Nissan's vision for intelligent mobility.
He added the Nissan LEAF, with more than half a million units already sold worldwide - is the only model today to allow V2G two-way charging and offers economic opportunities for businesses "that no other electric vehicle does today". Click here for more information.
FirstEnergy Corp, which aims to electrify 30% of its approximately 3,400 light duty and aerial fleet vehicles by 2030, has joined the Electric Highway Coalition. The group of electric companies, which has grown to 14 members, is committed to enabling long-distance EV travel through a network of EV fast-charging stations connecting major highway systems.
The Edison Electric Institute estimates 18 million EVs will be on US roads by 2030. While many drivers recognize the benefits of driving an EV, some are concerned with the availability of charging stations during long road trips. Through their unified efforts, the members of the EHC are addressing this "range anxiety" and demonstrating to customers that EVs are a smart choice for traveling long distances as well as driving around town.
Volta Industries has installed new charging stations at Safeway in Upper Marlboro, Maryland, and Renton, Washington.