[ad_1]
SolaBlock, a Pittsfield, Massachusetts-based solar technology company led by Mahoning Valley native Eric Planey, is launching a $3 million seed round raise, proceeds of which will be used to open an assembly facility and fund operations.
The company, which is in talks with climate and construction technology venture capital firms, strategic businesses and other sources of financing, is attempting to bring to market its Solar Masonry Unit, which embeds a solar photovoltaic (PV) module inside a standard cement block, enabling commercial building walls to be come vertical solar systems.
“After passing UL product testing and being admitted into the U.S. Department of Energy’s CESMII (Clean Energy Smart Manufacturing Innovation Institute) advanced smart manufacturing program this summer, the momentum at SolaBlock is exciting,” Planey said in a news release.
“We are ready to go to market at the perfect time. The demand for Net Zero building solutions is growing with federal, state and city green building mandates,” he said.
SolaBlock is a building integrated photovoltaic construction tech product. In 2022, the construction market in the U.S. was more than $1 trillion, and the demand for green building products is growing, the release states.
SolaBlock is dual headquartered in Massachusetts and New York, both leaders in Net Zero building incentives and mandates.
The assembly facility is planned for Pittsfield.
“The symbiotic relationship between the block and PV disperses excess heat in summer and insulates the PV in winter increasing longevity,” Rick Lewandowski, entrepreneur-in- residence with New York State Energy Research and Development Authority.
“That relationship allows SolaBlock to differentiate itself in the market, it’s a new category of BIPV that will cause growth in this market sector. It’s highly impactful.”
Center point final assembly facilities will open at rate of two per year with a 500-mile radius for project installations.
SolaBlock is suitable for new construction and retrofits and is working on hurricane resiliency testing to strengthen its positioning for increasingly volatile weather patterns, the release states.
[ad_2]
Source link