bp ventures has made a AUD 20 million investment in 5B Holdings, an Australian renewable company with technology that enables rapid deployment of solar power at scale. The investment closes 5B’s AUD 55 million AUD Series B funding round, which was co-led by existing investors The AES Corporation and Artesian. The capital injection will support 5B’s technology development and growth. It will also accelerate 5B’s international expansion, and its plans to establish a manufacturing and assembly hub in North America. 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. This year 5B Maverick was used to deploy panels with 1.1MW capacity covering the equivalent of a soccer pitch in a single day, with a team of only 10 at AES’ Andes Solar II B facility in the Atacama Desert in Chile.
bp ventures has made a AUD 20 million investment in 5B Holdings, an Australian renewable company with technology that enables rapid deployment of solar power at scale. The investment closes 5B’s AUD 55 million AUD Series B funding round, which was co-led by existing investors The AES Corporation and Artesian. The capital injection will support 5B’s technology development and growth. It will also accelerate 5B’s international expansion, and its plans to establish a manufacturing and assembly hub in North America. 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. This year 5B Maverick was used to deploy panels with 1.1MW capacity covering the equivalent of a soccer pitch in a single day, with a team of only 10 at AES’ Andes Solar II B facility in the Atacama Desert in Chile.
