Champaign, Illinois [RenewableEnergyAccess.com] Looking to develop its SolarBridge product line, SmartSpark Energy Systems, a power electronics company, announced last week that it had secured Series A financing from Battery Ventures.
SmartSpark develops products that support the efficient transformation of power used in renewable energy technologies such as the SolarBridge, which increases the reliability of a critical component of a solar power system – the inverter. An inverter is used to convert the DC power generated by solar panels to AC power required for consumption in homes and businesses.
SmartSpark’s goal is to facilitate the mainstream adoption of green technologies by making them safer, less complex, more efficient and more durable.
“The long-term growth prospects for the solar market are clear, but it’s also clear that we need to see the cost and complexity of overall systems come down if they are to be widely adopted,” said Jason Matlof, Battery Ventures Partner. “This is an exciting investment because we believe SmartSpark has the potential to change the economics of solar with technology to reduce the cost and increase the reliability and output of solar installations.”