Oslo-based Glint Solar has raised $3 million in a seed funding round. The company specialises in fusing satellite data and AI into a software package that can identify and analyse potential solar project sites in a given region. The fresh influx of photons will be aimed squarely at growing the team size as Glint ramps up sales efforts. Since early 2020, Glint has raised a total of $4.2 million.
Let’s call it like it is folks, fossil fuels are a finite resource. They are going to run out. And when they do, if we’ve not already taken the appropriate measures to ensure a relatively uninterrupted evening in our "modern age", well, quite frankly, as the actions of one man out east have shown us, we’re most likely f*cked.
Clearly, electric-powered everything is the appropriate measure du jour, and while I’m still holding out for nuclear fusion, until that time comes, solar energy holds the answers to a growing energy crisis.
However, while solar energy is the cheapest source of electricity in many parts of the world, globally, we’re still only collecting roughly 1,000 GW. Sure, this is no small figure, as 1 GW is equivalent to 3.125 million photovoltaic panels, or 3.125 billion panels, but with the average residential solar panel rated at 1 kW to 4 kW, that’s still nowhere near enough to replace current energy consumption figures.
Enter stage left: commercial solar energy collection projects. Now, you would think that for the amount and application of technical knowledge employed in such projects, where to build them might be a first consideration. According to Glint, that’s not always the case.
“We have seen that many developers of solar energy have a reactive origination process where they sit back and wait for leads or they hire consultants to do the work or they use simplistic services like Google maps to screen for sites,” explained Glint Solar’s CEO Harald Olderheim. “Solar energy is becoming very cost-efficient, which means there is increasing competition to secure attractive project sites, and that’s where Glint gives the developers a competitive edge.”
Trusted by Scatec, TotalEnergies, and blueleaf energy, Glint combines satellite data provided by a range of different inter-governmental sources, for example, from the EU Copernicus programme which includes the Sentinel satellites, with its proprietary AI to allow solar energy developers the ability to pinpoint specific areas of interest or screen large geographic sections for potential on both land and water. The startup additionally offers the ability to locate grid connection points and conduct technical and financial analyses of proposed projects.
Glint Solar’s $3 million seed round was provided by Momentum, Wiski Capital, Statkraft Ventures, and existing shareholders including Link Venture Capital, and Antler.
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