Sunday, July 14, 2024

Aegeus Technologies Raises Capital in Funding from Caspian Debt

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Robotic solar panel cleaning startup Aegeus Technologies has secured an undisclosed amount of venture debt from Caspian Debt. This funding will help the Bengaluru-based company meet its working capital needs and support its expansion plans.

About Aegeus Technologies

Aegeus Technologies was founded in 2017 by Suraj Vernekar and Nishith Shah. The company designs and develops IoT-driven robotic solutions for the operation and maintenance of solar plants. Their main product, the Intelligent Waterless Solar Panel Cleaning Robots, is currently deployed across more than 8GW of solar plants in India.

Innovative Cleaning Solutions

Aegeus Technologies’ Intelligent Waterless Solar Panel Cleaning Robots clean solar panels without using water, saving a significant amount of this precious resource. The robots also reduce the need for manual labor, making the cleaning process more efficient and cost-effective. Additionally, these robots use robotics, artificial intelligence (AI), and machine learning (ML) to improve the cleaning efficiency and provide predictive monitoring of the health of solar modules. This technology enhances return on investments and efficiency in both utility-scale and rooftop solar panel cleaning. The robots also assist with vegetation management around solar installations.

Nishith Shah, co-founder of Aegeus Technologies.
Nishith Shah, co-founder of Aegeus Technologies

Benefits of the Technology

  • Water Savings: The robots clean solar panels without using water, conserving this vital resource.
  • Labor Reduction: Automation reduces the need for manual labor, cutting costs and increasing efficiency.
  • Predictive Monitoring: The robots provide ongoing health checks for solar modules, helping to prevent issues before they arise.
  • Increased Efficiency: The technology enhances the return on investments by maintaining optimal solar panel performance.
  • Vegetation Management: The robots also help manage vegetation around solar installations, keeping the area clear and the panels unobstructed.
Clean Energy Representing image.

Funding and Future Plans

The funding transaction was facilitated by Innoxpark Ventures Pvt Ltd, a firm founded by Jyoti Prakash. With this new capital, Aegeus Technologies aims to continue its expansion and further develop its innovative cleaning solutions for the solar industry.

Suraj Vernekar and Nishith Shah are excited about the future and the opportunities that this funding will bring. “Our mission is to provide efficient, water-saving solutions for solar panel maintenance,” said Vernekar. “With the support from Caspian Debt, we can scale our operations and bring our technology to more solar plants across India.”

Aegeus Technologies’ innovative approach to solar panel cleaning is set to make a significant impact on the industry, improving efficiency and sustainability for solar energy production.

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