Ecoppia, the world leader in robotic solutions for photovoltaic solar, announced a $40 million strategic investment in the company by CIM Group.
CIM is an experienced and prominent US-based real assets owner, operator, lender, and developer with more than $60 billion in infrastructure and real estate projects delivered over its 25-plus year history.
CIM’s is now the largest investor in Ecoppia, and the investment further solidifies Ecoppia’s position as leader in its field, the Company said in its press statement.
With the CIM investment, Ecoppia significantly strengthens its balance sheet and reduces its cost of debt. This brings the company in line with expectations of its tier-1 energy clients, who include ENGIE, EDF, Fortum, Actis, Brookfield and others.
“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,” she added.
“This latest investment by CIM Group is a vote of confidence from one of the most prominent and sophisticated US investors,” said Jean Scemama, CEO of Ecoppia. “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,” he concluded.
Ecoppia is a privately held organization backed by prominent and experienced international investment funds. Ecoppia provides revolutionized solar ROIs for leading Tier1 energy conglomerates worldwide, cleaning millions of solar panels every month.
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