CIM invests $40m in Israeli solar panel cleaning co Ecoppia

Ecoppia cleaning robot Photo: PR

The Israeli company's autonomous robotic solutions are designed to keep solar panels at year-round peak performance.

Israeli robotic cleaning solutions for photovoltaic solar panels company Ecoppia announced today a $40 million strategic investment by CIM Group today.

CIM is now the largest investor in Herzliya-based Ecoppia, whose fully autonomous robotic solutions are deployed globally in utility-scale sites. The company says that  they have been field-proven to keep solar panels at a year-round peak performance, while minimizing costs.

CIM is a US-based real assets owner, operator, lender, and developer with more than $60 billion in infrastructure and real estate projects to it name.

Despite the challenges of the ongoing Covid-19 pandemic, Ecoppia has secured over 10GW of new projects over the last three quarters, maintaining a CAGR of over 200% in the past six years.

Ecoppia CEO Jean Scemama said, "This latest investment by CIM Group is a vote of confidence from one of the most prominent and sophisticated US investors. This capital infusion will allow Ecoppia to continue its geographic expansion, as more and more regions realize the benefits of shifting to robotic cleaning. It will also enable us to accelerate our innovative developments towards fully data-driven, automation-based solar O&M."

"Following an extensive market analysis and due diligence, which CIM undertakes in its proven investment process, we recognized Ecoppia as the leading robotic player in the solar industry," said Jennifer Gandin, Principal, Investments of CIM Group. "We believe that Ecoppia will continue to pioneer the automation of the solar industry with its experience and data analysis capabilities.".

Published by Globes, Israel business news - en.globes.co.il - on July 21, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Ecoppia cleaning robot Photo: PR
Ecoppia cleaning robot Photo: PR
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