Press release
bp invests $20m AUD in low-cost, rapid deployment solar provider 5B
- 5B’s rapidly deployable solar technology enables fast, easy, low-cost solar installation
- 5B has more than 60MW of solar technology deployed globally, including projects in the US, Latin America, Europe, and Asia. The investment will allow 5B to expand further globally and invest in R&D.
bp ventures has made a $20 million AUD investment in 5B Holdings Pty Ltd, an Australian renewable company with technology that enables rapid deployment of solar power at scale. The investment closes 5B’s $55 million AUD Series B funding round, which was co-led by existing investors The AES Corporation and Artesian.
5B’s leading solar technology, the 5B Maverick®, consists of up to 90 solar panels mounted on specially designed frames that can be unfolded and installed at speed. To date, 5B has deployed its technology across more than 100 sites worldwide with total generating capacity of over 60MW.
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