Tracking clean energy performance: Omnidian lands $33M to help companies manage solar assets

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BY LISA STIFFLER on September 22, 2021

New funding: Seattle-based Omnidian announced a $33 million investment round today, bringing the climate tech company’s total funding to $53.4 million. The company operates software platforms that monitor the performance of solar power assets for more than 80 corporate customers, including developers, utilities, financial organizations and corporations. Omnidian also manages assets for thousands of homeowners.

Ready for renewables: The Biden administration set a goal of net zero carbon emissions from the power sector by 2035, requiring the country to bring massive amounts of solar, wind and other clean energy online in a short amount of time. Omnidian, which bills itself as the only nationwide company to provide reporting on solar power performance, currently manages 1,700 megawatts of power, roughly enough power for 1.3 million homes.

“Residential and commercial solar are moving into mainstream adoption and with that comes demand for a higher level of service and assurance that a customer’s system is operating as expected,” said Mark Liffmann, Omnidian’s founder and CEO, in a statement.

In addition to tracking solar power output, the company has launched a similar service for assessing energy storage, namely batteries, at residential and commercial levels. Its platform provides service alerts and field service to ensure reliable performance of the power sources.

The team: Omnidian launched in 2016 and has grown to more than 100 employees in 16 states. The new funding will allow for international expansion, possibly into Australia, Europe and Latin America.

Liffmann has worked for solar and clean energy companies for nearly two decades.

Investors: The Series B round was led by Activate Capital. Additional investors include Liberty Mutual Insurance and WIND Ventures, the strategic venture capital arm of Chilean multinational energy firm Copec, as well as existing investors City Light Capital, IA Capital, Evergy Ventures, Avista Development Inc., Congruent Ventures, Centrica, National Grid Partners, Energy Foundry and Blue Bear Capital.

Source: GeekWire