Photographer: Moriah Ratner/Bloomberg
(Bloomberg) — A startup that developed a device designed to make solar panels more efficient raised $32 million from investors, including former SunPower Corp. Chief Executive Officer Tom Werner, to expand manufacturing.
Optivolt’s Series A financing was led by VXI Capital and included RA Capital, Valo Ventures and Atlas Innovate, according to a company statement. Paul Nahi, ex-CEO of Enphase Energy Inc., also is an investor.
Optivolt’s device is embedded in a solar panel and is intended to manage energy production among cells to recover power otherwise lost to shade, dirt or uneven degradation. The San Francisco-based company has shipped more than 20,000 panels incorporating the device, according to founder and CEO Rohit Kalyanpur. The electronics can boost a panel’s output by as much as six times compared with a traditional setup, he said.
Solar developers are under pressure to get more production from their systems. A key reason: Panel costs are expected to rise due to higher tariffs and tighter tax-credit rules that have been imposed by the Trump administration.
Despite those pressures, solar remains one of the fastest and cheapest sources of new power, and US demand is seen remaining robust as utilities and companies race to secure electricity for power-hungry data centers and new factories.
KEEPING THE ENERGY INDUSTRY CONNECTED
Latest Articles
China Moves to Curb Hydrogen Overcapacity as Investment Surges
Europe’s Power Demand Is Rising Again After Years-Long Slump
US Clean Energy Set to Reach New Highs as Tax-Credit Cliff Looms
Europe’s $40 Billion Battery Bet Set for Big Winter Payout
Watch/Listen
Why industrial heat is the missing piece in the energy security conversation
As tensions around the Strait of Hormuz continue to highlight energy security risks, one critical issue remains largely overlooked: industrial heat. In this episode of…
Why LNG demand growth requires a stronger global supply chain
In an exclusive Energy Connects studio interview at Gastech 2026, Bhupesh Thakkar, SVP and General Manager of LNG and Regasification at Bechtel Energy, discusses the…
Turning nature ambition into action across the energy sector
In this episode of the Energy Connects Podcast, Chiranjib Sengupta speaks with Artemis Kostareli, Nature Director at Ipieca, to discuss why true sustainability in the…
LNG’s enduring role in a changing global energy landscape
In an exclusive Energy Connects studio interview at Gastech 2026, Simon Flowers, Chairman and Chief Analyst of Wood Mackenzie shares his outlook for the global…
