Vancouver-based Daanaa Closes $7M Series-A Financing Led by VoLo Earth Ventures to Commercialize Power Transaction TechnologyWednesday, December 15, 2021
Vancouver, BC, December 15, 2021--(T-Net)--Daanaa Resolution, Inc. announced today a Series-A investment of USD $7 million led by VoLo Earth Ventures.
The funding will be used to complete Daanaa's first product in the solar energy vertical and move into commercialization.
VoLo Earth, a venture capital firm investing in the new energy economy, sees Daanaa as a versatile technology addressing the global climate crisis.
Daanaa's proprietary semiconductors provide medium- and modality-free power transactions. That allows solar panels to overcome conventional hardware restrictions of cell connectivity, optimizers and inverter composition, dramatically increasing power production and reducing BOS costs. The technology features can be seen on Daanaa's website at the technology page.
Kareem Dabbagh, Managing Partner at VoLo Earth Ventures, is excited about the multiple opportunities to reduce emissions and accelerate the adoption of more affordable solar energy, "Daanaa's technology transforms a PV module and system into a cheaper and more reliable technology, while improving efficiency and contributing to more reductions in GHGs."
He adds, "The technology can also apply to numerous other industries and verticals, such as electric vehicles and battery management systems. Together with Daanaa's diligent and execution-driven team, we have a bright path ahead to support global sustainability efforts and make the technology inherently simpler and more efficient."
Udi Daon, CEO at Daanaa, welcomes the VoLo Earth team, "We've made great progress this year, both on the technical and business sides. We enter this new year with more good news with the partnership. VoLo Earth comes to complement our knowledge by bringing their renewables and clean energy expertise. As we enter the commercialization phase, we will be able to expand operations to other verticals and scale effectively."
VoLo Earth Ventures believes in responsible ESG and climate-based investing for a sustainable future. The team's diverse backgrounds and complementary skill sets are supporting assets to entrepreneurs changing the world through climate technologies and innovation.
About Daanaa Resolution
Daanaa's proprietary technology transfers energy freely, safely, and efficiently, without the need for wires, cables or connectors. Power, together with data, can be transferred through the air or using existing conductive structures, also going through materials such as wood, plastics, glass and concrete.
Energy transactions happen through a small integrated circuit operating in the non-inductive near field. Our chips are designed to integrate with existing technologies and hardware, ranging from household electronics to energy sources, such as solar power, electric vehicles (EV), energy storage, and to a broader extent, the infrastructure that powers our homes and places of work.
Together with our partners, we're reimagining fundamental engineering challenges through rigorous research, cutting-edge solutions, and a shared passion for sustainability to create a future where energy is efficient, affordable and widely accessible.
View Company Website
Copyright © T-NET. All Rights Reserved. | https://www.bctechnology.com